Bitcoin miner Terawulf will grow faster than expected into early 2023 despite industry woes as it bumped its hashrate guidance for the first quarter of next year up 16%. Shares tumbled more than 30%.

The hashrate will increase 4.3 EH/s to 5 EH/s by the first quarter of 2023 after restructuring a contract with hardware company Bitmain that will see TeraWulf getting more machines at the same cost.

(by Catarina Moura)