Claim 55% Off TipRanks
Trade WULF with leverageTeraWulf Inc ( (WULF) ) has issued an update.
On February 26, 2026, TeraWulf reported fourth-quarter and full-year 2025 results, highlighting a pivot toward high-performance computing leasing as its primary growth engine while continuing legacy bitcoin mining opportunistically. The company secured long-term data center lease agreements for 522 critical IT MW, underpinning more than $12.8 billion in contracted revenue and supporting a multi-year development pipeline.
For 2025, TeraWulf generated $168.5 million in revenue, a non-GAAP adjusted EBITDA loss of $23.1 million, and ended the year with $3.72 billion in cash and restricted cash. Digital asset revenue fell sequentially in the fourth quarter to $26.1 million due to weaker bitcoin production and prices, while HPC lease revenue rose to $9.7 million, underscoring the transition toward contracted AI and HPC workloads.
The flagship Lake Mariner campus in New York and the Abernathy HPC Campus joint venture in Texas anchor the 522 MW contracted platform, with Google credit enhancement supporting major leases and more than $6.5 billion in long-term financing secured in 2025. Lake Mariner’s phased buildout, targeting up to 750 MW of gross HPC capacity, achieved key construction milestones, with additional buildings scheduled for energization through late 2026.
TeraWulf is also expanding geographically, controlling the Cayuga site in New York and, subsequent to year-end, moving to add brownfield sites in Kentucky and Maryland, bringing gross platform capacity to about 2.9 GW across five locations. Management framed 2025 as an inflection year that establishes revenue visibility, enhances counterparty credit quality, and positions the company as a leading provider of sustainable AI and HPC infrastructure with a pathway to deliver 250–500 critical IT MW annually through the end of the decade.
The most recent analyst rating on (WULF) stock is a Buy with a $30.00 price target. To see the full list of analyst forecasts on TeraWulf Inc stock, see the WULF Stock Forecast page.
Spark’s Take on WULF Stock
According to Spark, TipRanks’ AI Analyst, WULF is a Neutral.
The score is held down primarily by weak financial performance (large losses, negative operating cash flow, and high leverage). Offsetting this is a constructive earnings-call outlook driven by long-duration HPC contracting and major project financing, while technicals are neutral-to-mixed and valuation lacks support due to negative earnings and no dividend.
To see Spark’s full report on WULF stock, click here.
More about TeraWulf Inc
TeraWulf Inc. is a U.S.-based developer, owner and operator of environmentally sustainable, industrial-scale data center infrastructure, focused on high-performance computing hosting and bitcoin mining. The company targets energy-advantaged sites to deliver scalable, low-carbon compute capacity for next-generation artificial intelligence and HPC customers, leveraging a multi-regional platform and veteran energy infrastructure expertise.
Average Trading Volume: 30,423,995
Technical Sentiment Signal: Buy
Current Market Cap: $7.35B
For detailed information about WULF stock, go to TipRanks’ Stock Analysis page.