TeraWulf's total revenue for the third quarter was $76.23 million, a year-over-year increase of 50.7%.

TeraWulf released its Q3 2026 financial results, reporting total revenue of $76.23 million, a 50.7% year-over-year increase. HPC leasing revenue was $62.99 million, compared to $7.2 million in the same period last year; digital asset revenue was $13.24 million, a 69.5% year-over-year decrease. Net income was approximately $710 million, compared to a net loss of $455 million in the same period last year, primarily due to a $728 million gain from changes in the fair value of warrants. Adjusted EBITDA was negative $12.8 million, compared to $18.13 million in the same period last year. As of September 30, cash and cash equivalents totaled approximately $2.4 billion. In terms of operations, the Lake Mariner campus has 102 MW of critical IT capacity in operation, with another 336 MW under construction. TeraWulf signed a 20-year lease with Anthropic for approximately 401 MW of its Justified campus, with contract revenue of approximately $19 billion, expected to be delivered in phases starting at the end of 2027. The contracted power capacity for the Muskie campus has been increased from 500 MW to 1000 MW, pending approval from the Kentucky Public Service Commission. During the quarter, TeraWulf sold its 50.1% stake in the Abernathy joint venture, recognizing a gain of $95 million. Chairman and CEO Paul Prager stated that the company will continue to allocate capital prudently, focusing on fulfilling its commitments and creating long-term value for shareholders. (Source: U.S. SEC)