Quarterly ResultMay 8, 2026, 07:07 AM
TeraWulf Q1 Revenue $34.0M; Net Loss $(427.7)M; HPC Revenue $21.0M
AI Summary
TeraWulf Inc. reported first-quarter 2026 revenue of $34.0 million, including $21.0 million from HPC lease revenue, marking a significant transition towards a contracted revenue model. Despite a substantial net loss of $(427.7) million, the company maintained a strong liquidity position with $3.1 billion in cash and restricted cash. Operational highlights include 60 MW of critical IT HPC capacity online and the acquisition of a large-scale site in Hawesville, Kentucky, with 480 MW of immediate power access.
Key Highlights
- Q1 2026 total revenue was $34.0 million.
- HPC lease revenue contributed $21.0 million, representing over 60% of total Q1 revenue.
- Net loss attributable to TeraWulf Inc. was $(427.6) million for Q1 2026.
- Adjusted EBITDA was $(4.1) million, an improvement of approximately $47 million quarter-over-quarter.
- Maintained strong liquidity with $3.1 billion in cash and restricted cash as of March 31, 2026.
- Closed a $250 million revolving credit facility.
- 60 MW of operational critical IT HPC capacity for Core42 at Lake Mariner as of March 31, 2026.
- Expanded development platform with the acquisition of the Hawesville, Kentucky site, offering 480 MW of power.
Price Impact
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