TeraWulf HPC Leasing Revenue Jumps 52% to $31.9M, Now 71% of Total
WULF has more than doubled off its 52-week low of $4.67.
Summary
TeraWulf's HPC leasing revenue surged 52% sequentially to $31.9 million in Q2, now accounting for 71% of total revenue — up from 62% last quarter. This shift toward contracted, recurring revenue is a direct result of the landmark Anthropic lease signed in July. Meanwhile, legacy Bitcoin mining revenue was flat QoQ at $12.8 million but collapsed from $47.6 million a year ago, underscoring the strategic pivot. The net loss widened to $940 million, but that's almost entirely a non-cash warrant adjustment tied to the stock's rise — not operational. Shares barely moved after hours, suggesting the market had already priced in the HPC ramp. The real test is execution on the $3.5 billion debt raise to fund the Kentucky campus buildout.
At the time of this announcement, WULF was trading at $18.13 on NASDAQ in the Crypto Assets sector, with a market capitalization of approximately $9B. The 52-week trading range was $4.67 to $29.84. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: Binance News.