Expanding the number of Bitcoin machines or facilities “makes no sense” if profitability margins don’t increase, TeraWulf’s Kerri Langlais stressed.) mining firm TeraWulf says it would consider a merger if there’s an opportunity to widen profit margins—but not if it’s merely for “empire building,” according to its chief strategist.
While other publicly-listed Bitcoin miners have set targets to reach hashrate milestones, Langlais said TeraWulf is focusing more on “organic growth” at its existing sites and shareholder returns. “‘Cash is king,’ and metrics like EBITDA, profitability, and free cash flow yield should become the benchmarks for valuing mining businesses moving forward.”TeraWulf is one of several Bitcoin miners that has diverted some of its capacity to other ventures, such as AI and high-performance computing, diversifying revenue streams.