The Mythril Waraxe is a Hardmode axe that is obtainable after crafting a Mythril Anvil or an Orichalcum Anvil, and is the axe alternative to the Mythril Chainsaw. Along with its slightly stronger counterpart the Orichalcum Waraxe, they are stronger than the Cobalt or Palladium Waraxe but weaker than the Adamantite or Titanium Waraxe which can be obtained later. Like all other axes and chainsaws, it is solely used to cut down trees, cacti and giant glowing mushrooms.
Its best Modifier is Legendary. While Light may seem to provide a better speed boost by percentages, rounding reveals that Legendary and Light mine at equal speeds for this tool.