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TeraWulf Inc
(NASDAQ:WULF)
TeraWulf Inc (WULF) vs. SPDR S&P 500 ETF (SPY)
TeraWulf Inc Business Overview & Revenue Model
TeraWulf Inc Earnings Call Summary
TeraWulf Inc Financial Statement Overview
| Breakdown | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2019 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 144.09M | 140.05M | 69.23M | 15.03M | 12.74M | 17.62M |
| Gross Profit | 63.16M | 77.44M | 41.91M | 3.95M | 12.69M | 5.40M |
| EBITDA | -73.26M | -17.41M | 161.00K | -38.83M | -43.35M | -223.63K |
| Net Income | -131.72M | -72.42M | -73.42M | -90.79M | -95.68M | -813.56K |
Balance Sheet | ||||||
| Total Assets | 869.41M | 787.51M | 378.11M | 317.69M | 264.91M | 16.88M |
| Cash, Cash Equivalents and Short-Term Investments | 89.99M | 274.06M | 54.44M | 1.28M | 46.45M | 3.17M |
| Total Debt | 500.88M | 491.25M | 124.47M | 129.31M | 95.71M | 2.82M |
| Total Liabilities | 695.08M | 543.07M | 155.62M | 199.93M | 141.73M | 4.62M |
| Stockholders Equity | 174.33M | 244.44M | 222.49M | 117.75M | 123.18M | 12.26M |
Cash Flow | ||||||
| Free Cash Flow | -176.15M | -292.36M | -70.91M | -106.92M | -133.17M | -975.05K |
| Operating Cash Flow | -61.97M | -24.42M | 4.26M | -34.07M | -24.10M | -477.03K |
| Investing Cash Flow | -129.68M | -91.16M | -78.01M | -94.05M | -201.41M | 7.58K |
| Financing Cash Flow | 178.96M | 335.21M | 119.87M | 89.98M | 271.97M | -190.03K |
TeraWulf Inc Technical Analysis
TeraWulf Inc Risk Analysis
TeraWulf Inc Peers Comparison
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
68 Neutral | $18.05B | 11.73 | 10.24% | 3.73% | 9.66% | 1.70% | |
68 Neutral | $595.34M | 12.93 | 29.72% | ― | 39.84% | -10.81% | |
67 Neutral | $7.89B | ― | -3.39% | ― | 130.86% | -22.83% | |
64 Neutral | $652.21M | 13.16 | 5.88% | 6.59% | 54.17% | 64.76% | |
63 Neutral | $838.94M | 8.82 | -11.34% | ― | 14.65% | -240.80% | |
58 Neutral | $3.77B | ― | -46.99% | ― | 19.82% | -77.95% | |
54 Neutral | $2.91B | ― | -21.39% | ― | 0.11% | -914.42% |
TeraWulf Inc Corporate Events
On August 22, 2025, TeraWulf Inc. announced the completion of a $1 billion offering of 1.00% Convertible Senior Notes due 2031, following the full exercise of a $150 million greenshoe option by initial purchasers. The net proceeds, approximately $975.2 million, will be used for data center expansion and general corporate purposes, with $100.6 million allocated to capped call transactions to mitigate potential stock dilution.
On August 20, 2025, TeraWulf Inc. completed a private offering of 1.00% Convertible Senior Notes due 2031, raising $850 million. The net proceeds of approximately $828.7 million will be used for data center expansion and general corporate purposes. The notes are convertible into common stock and come with certain conditions and options for redemption and conversion. Additionally, TeraWulf entered into capped call transactions to mitigate potential dilution of its stock.
On August 18, 2025, TeraWulf Inc. announced the upsize and pricing of its $850 million private offering of 1.00% Convertible Senior Notes due 2031, with an option for initial purchasers to buy an additional $150 million. The proceeds, estimated at $828.7 million, will fund data center expansion and other corporate purposes. The offering, expected to close on August 20, 2025, is aimed at institutional buyers and includes capped call transactions to manage potential stock dilution.
On August 18, 2025, TeraWulf Inc. announced its intention to offer $400 million in convertible senior notes due 2031, with an additional option for $60 million, subject to market conditions. The proceeds are intended for data center expansion and general corporate purposes, potentially impacting the company’s market positioning by enhancing its infrastructure capabilities.
On August 17, 2025, TeraWulf Inc. announced that its subsidiary Akela Data LLC entered into a lease agreement with Fluidstack USA I Inc. for a new data center building, CB-5, at its Lake Mariner campus in New York. This expansion will provide over 160 megawatts of IT load for high-performance computing, with operations expected to begin in late 2026. Google has agreed to backstop certain obligations of Fluidstack under the lease and will receive warrants to acquire shares in TeraWulf. The expansion increases TeraWulf’s contracted capacity with Fluidstack to approximately 360 megawatts, reinforcing Lake Mariner’s position as a leading HPC campus in the U.S. and strengthening TeraWulf’s strategic alignment with Google.
On August 13, 2025, TeraWulf Inc. announced that its subsidiary Akela Data LLC entered into two datacenter lease agreements with Fluidstack USA I Inc. at the Lake Mariner data center campus in New York, providing over 200 megawatts for high-performance computing operations. The agreements, backed by Google, are expected to generate approximately $3.7 billion in revenue over 10 years, with potential extensions increasing this to $8.7 billion. Google will backstop $1.8 billion of Fluidstack’s lease obligations and receive an 8% equity stake in TeraWulf, aligning the company with a major AI partner and enhancing its strategic expansion into high-performance computing.
On August 12, 2025, TeraWulf Inc. entered into an 80-year lease agreement for 183 acres at the Cayuga site in Lansing, New York, to expand its high-performance computing and AI data center hosting. This lease allows TeraWulf to develop up to 400 MW of digital infrastructure capacity, with 138 MW expected to be operational by 2026, leveraging predominantly zero-carbon energy. The transaction, approved by a special committee of independent directors, involves a $95 million payment in TeraWulf common stock and $3 million in cash to Cayuga’s parent company, reinforcing alignment between management and shareholders. Additionally, on the same date, TeraWulf restructured its internal leases at the Somerset site to optimize power and infrastructure resources for its bitcoin mining and HPC subsidiaries.
TeraWulf Inc. reported its financial results for the second quarter of 2025, highlighting a 34% increase in revenue to $47.6 million compared to the previous year, driven by an increase in bitcoin mining capacity and higher bitcoin prices. The company is on track to deliver 72.5 MW of HPC hosting infrastructure to Core42 in 2025 and aims to expand its operational capacity to 200-250 MW by the end of 2026. Despite a reduction in self-mined bitcoin due to the 2024 halving and strategic divestitures, TeraWulf is advancing its strategy to scale its zero-carbon compute infrastructure, securing significant interconnection approvals and preparing to recognize HPC hosting revenue in the third quarter of 2025.
On May 21, 2025, TeraWulf Inc. acquired 100% of the membership interests of Beowulf Electricity & Data LLC and its affiliates for approximately $52.4 million. This strategic acquisition simplifies TeraWulf’s corporate structure, consolidates resources, and eliminates a related-party relationship, enhancing transparency and governance. The transaction is expected to strengthen TeraWulf’s vertical integration and energy expertise, improve access to capital markets, and expand investor appeal by enabling broader engagement with institutional investors. The acquisition also includes the transition of 94 employees from Beowulf E&D to TeraWulf, and the termination of an existing services agreement, aligning with TeraWulf’s long-term growth strategy.