TERAWULF INC. (WULF) Form 10-Q — Aug 5, 2026
TeraWulf reported Q2 2026 total revenue of $44.8 million, down from $47.6 million a year earlier, and a net loss of $940.8 million (EPS of negative $1.94) versus an $18.4 million loss in Q2 2025. The quarter's loss was driven primarily by a $755.7 million non-cash charge from the change in fair value of warrants issued to Google in connection with the Fluidstack lease backstop. The revenue mix shifted sharply as the company pivots to AI/HPC hosting: digital asset mining revenue fell to $12.8 million from $47.6 million as miner buildings were repurposed or shut down, while newly commenced HPC leases with Core42 and Fluidstack generated $31.9 million.
Key figures
- Revenue
- 44767000
- Revenue Yoy
- -6% (Q2 2026 total revenue $44.8M vs Q2 2025 $47.6M)
- Cash Position
- 2619191000
- Shares Outstanding
- 498968677
- Capex h1
- 1378514000
- Hpc capacity
- 81 MW critical IT energized at 6/30/26; 102 MW as of filing date; 145 MW bitcoin mining capacity at Lake Mariner
- Google warrants
- 73,580,000 shares at $0.01 exercise price
- Impairment h1 2026
- 25697000
- Secured notes 2030
- $3.2B at 7.75%, due October 15, 2030
- Accumulated deficit
- 2361243000
- Interest expense h1
- 123460000
- Interest expense q2
- 56389000
- Warrant liabilities
- 1816690000
- Q2 hpc lease revenue
- 31932000
- Six month total revenue
- 78779000
- Warrant fair value loss q2
- 755667000
- Q2 equity raise net proceeds
- 1190823000
- Muskie acquisition total cost
- 167461000
- Q2 digital asset mining revenue
- 12835000
- Letters of credit posted july 2026
- 360700000
- Warrant fair value loss six months
- 971992000
- Justified data campus consideration
- 301938000
- Q2 2025 digital asset mining revenue
- 47636000
Price after filing
Close on the filing date to close N calendar days later (from $18.88). Historical, not a forecast.
AI analysis
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