Quarterly ResultAug 5, 2026, 04:37 PM
TeraWulf Reports Q2 Net Loss of $939.9M; HPC Revenue Surges
AI Summary
TeraWulf reported a significant net loss of $939.9 million for Q2 2026, primarily driven by a $(755.7) million change in the fair value of warrants. Total revenue for the quarter decreased to $44.8 million from $47.6 million year-over-year, despite a substantial increase in HPC lease revenue to $31.9 million. The company also reported negative cash flow from operations and continued its strategic expansion into high-performance computing with several acquisitions.
Key Highlights
- Q2 2026 net loss attributable to TeraWulf Inc. was $939.9 million, compared to $18.4 million in Q2 2025.
- Total revenue for Q2 2026 was $44.8 million, down from $47.6 million in Q2 2025.
- HPC lease revenue surged to $31.9 million in Q2 2026 from $0 in Q2 2025.
- Digital asset revenue decreased to $12.8 million in Q2 2026 from $47.6 million in Q2 2025.
- Loss per share was $(1.94) for Q2 2026, compared to $(0.05) in Q2 2025.
- Change in fair value of warrants resulted in a $(755.7) million expense in Q2 2026.
- Net cash used in operating activities for H1 2026 was $(154.3) million, compared to $1.7 million provided in H1 2025.
- Acquired Hawesville site for approx. $301.9 million and Muskie Data Campus in Q2 2026.
Price Impact
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