TeraWulf HPC Revenue Surges 52%, Now 71% of Total, as AI Leasing Dominates
WULF has more than doubled off its 52-week low of $4.67.
Summary
TeraWulf's Q2 HPC leasing revenue jumped 52% QoQ to $31.9M, now 71% of total revenue, as the company pivots from bitcoin mining to AI infrastructure. Digital asset revenue was flat at $12.8M but down sharply from $47.6M a year ago. The net loss widened to $940M, driven by a $755.7M non-cash warrant adjustment tied to Google warrants. Operationally, Lake Mariner capacity reached 102 MW with CB3 completion, activating $600M in Google credit support. CB4's first data hall is expected to generate lease revenue in late September, with CB5 energizing in early 2027. Project costs per MW rose to ~$9.1M from ~$8.6M. The CEO confirmed New York's data center moratorium won't impact development. This follows the landmark $19B Anthropic lease and $530M Abernathy sale announced in July, reinforcing the strategic shift to HPC.
At the time of this announcement, WULF was trading at $18.60 on NASDAQ in the Crypto Assets sector, with a market capitalization of approximately $9.2B. 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: The Block.