TeraWulf Reports Q3 Revenue of $76.2 Million, HPC Leasing Revenue Accounts for ~83%

PANews, November 6 - According to an official announcement, TeraWulf (WULF), a digital infrastructure company transformed from a Bitcoin mining enterprise, reported its fiscal 2026 third-quarter results with revenue of $76.2 million, of which HPC leasing revenue was $63 million, accounting for approximately 83%. Affected by non-cash factors such as changes in the fair value of warrants, net income was approximately $709.9 million, with adjusted EBITDA of approximately -$12.8 million. As of September 30, its Lake Mariner campus had 102 MW of critical IT capacity in operation, with an additional 336 MW under construction; the contracted power capacity at the Muskie campus was expanded from 500 MW to 1 GW (pending approval from the Kentucky Public Service Commission). During the quarter, the company completed the sale of its 50.1% interest in the Abernathy joint venture, recognizing a gain of $95 million, and held approximately $2.4 billion in cash and restricted cash at quarter-end. Previously, TeraWulf had signed a lease agreement with Anthropic for approximately 401 MW over a 20-year term, totaling approximately $19 billion.