TeraWulf Inc. develops, owns, and operates industrial-scale digital infrastructure in the United States for high-performance computing hosting and bitcoin mining. Company news commonly covers HPC lease revenue, digital asset mining activity, power-backed data center construction, and the transition of capacity at WULF Compute and the Lake Mariner site toward contracted compute customers.
Recurring developments also include capital actions used to fund data center construction and site expansion, such as common stock offerings and credit facilities, along with updates on acquired infrastructure sites such as Hawesville, Kentucky. Financial releases address operating results, liquidity, construction progress, and the balance between HPC hosting and bitcoin mining within TeraWulf's business model.
TeraWulf (Nasdaq: WULF) reported third-quarter 2026 revenue of $76.230 million as high-performance computing leases became its largest revenue source. Lease revenue reached $62.986 million, approximately 83% of revenue. Net income attributable to TeraWulf was $709.912 million, aided by a $728.442 million warrant and derivative valuation gain; operating loss widened to $88.225 million.
Lake Mariner had 102 MW operating and 336 MW under construction. TeraWulf signed a 20-year Anthropic lease covering approximately 401 MW and approximately $19 billion of contracted revenue, secured Google credit support for anticipated project financing, and signed a Fluor construction agreement. Muskie's contracted power expanded to 1,000 MW, subject to regulatory approval. Quarter-end cash, cash equivalents and restricted cash totaled approximately $2.4 billion. The Abernathy interest sale brought $250 million in cash, with further payments expected.
TeraWulf (NASDAQ: WULF) executed Google credit support agreements for anticipated debt financing supporting approximately $19 billion of contracted Anthropic lease commitments.
The financing supports development of the Justified Data Campus in Hawesville, Kentucky. TeraWulf says Google's contractual support strengthens its ability to secure competitive project financing; the agreements do not constitute completed debt financing.
TeraWulf also signed a definitive engineering, procurement and construction agreement with Fluor for three Justified data center buildings, expanding its role beyond early engineering and pre-construction. Guaranteed maximum pricing is being established as engineering and procurement progress. Phased ready-for-service completions are expected from late 2027 through the second quarter of 2028. Separately, contracted power capacity at the Muskie Data Campus recently expanded to 1 GW.
TeraWulf (Nasdaq: WULF) will host its third-quarter 2026 earnings conference call and webcast on November 6, 2026. The call begins at 8:00 a.m. Eastern Time and covers the quarter ended September 30, 2026. The company will release its financial results before the call that day. A telephone replay will be available through November 20, 2026.
Kentucky Power finalized an amended agreement with TeraWulf (WULF) that would double contracted electric demand at its Muskie Data campus.
The agreement would increase demand from 500 MW to 1 GW. Subject to Kentucky Public Service Commission approval, Kentucky Power expects $100 million in TeraWulf-funded residential winter bill credits over the contract's first 10 years, beginning in 2029. Typical residential credits could be approximately $25 per month during the winter heating season. Planned delivery of the second 500-MW phase moves from 2030 to 2029, subject to approval and Kentucky Power's construction schedule. TeraWulf also agreed to pay estimated financing costs for Kentucky Power's planned 760-MW Big Sandy generation facility. Kentucky Power plans to seek regulatory approvals later this year.
TeraWulf (Nasdaq: WULF) signed an amended electric service agreement with Kentucky Power, increasing contracted capacity at its Muskie Data Campus to 1 GW. Capacity previously stood at 500 MW. Planned delivery of the second 500 MW phase moves from 2030 to 2029, subject to Kentucky Public Service Commission approval and Kentucky Power’s construction schedule. The first 500 MW phase remains targeted to begin ramping in 2028.
TeraWulf continues to evaluate potential capacity of up to 2 GW, subject to additional utility planning, infrastructure and agreements. Development will follow Governor Beshear’s Executive Order on Data Center Development. Kentucky Power is developing a substation connected to the regional transmission network to serve the campus, which TeraWulf acquired in May 2026 for phased AI and high-performance computing development.
TeraWulf (Nasdaq: WULF) announced that the Kentucky Public Service Commission approved a Retail Electric Service Agreement supporting up to 482 MW of electric service for its Justified Data Campus in Hancock County, Kentucky. The August 21, 2026 order authorizes Big Rivers Electric Corporation and Kenergy Corp. to implement the RESA.
Under the structure, TeraWulf is responsible for market, transmission, delivery and customer-specific infrastructure costs, as well as substantial credit-support obligations, while negotiated demand adders and customer charges provide incremental contributions to Big Rivers and Kenergy. The project repurposes the former Century Aluminum Hawesville site, with approximately 482 MW of existing transmission capability.
Based on expected development costs of $10–$12 million per MW of critical IT load, TeraWulf currently estimates $4.0–$4.5 billion of investment in site development and initial data halls, alongside anticipated employment and local tax base expansion.
TeraWulf (Nasdaq: WULF) reported second quarter 2026 revenue of $44.8 million, including $31.9 million of high‑performance computing (HPC) lease revenue, or about 71% of total revenue. The company ended the quarter with approximately $3.0 billion of cash and restricted cash to support contracted developments.
At Lake Mariner, TeraWulf had 81 MW of revenue-generating critical IT capacity at June 30 and completed CB‑3 in early July, lifting operating capacity to 102 MW and triggering effectiveness of $600 million of Google credit support for Fluidstack’s lease obligations. Construction continues on an additional 336 MW across CB‑4 and CB‑5.
Subsequent to quarter‑end, TeraWulf signed a 20‑year lease with Anthropic for approximately 401 MW at the Justified Data Campus, representing about $19 billion of contracted revenue over the initial term and up to roughly $33 billion with extensions. The company also agreed to sell its 50.1% interest in the Abernathy Joint Venture for approximately $530 million in cash and received FERC authorization for the proposed acquisition of the Morgantown generating station supporting the up to 1 GW Chesapeake Data Campus.
TeraWulf (Nasdaq: WULF) will host its second quarter 2026 earnings conference call and webcast on Wednesday, August 5, 2026 at 8:00 a.m. Eastern Time. A press release with financial results for the quarter ended June 30, 2026 will be issued earlier that day. The event offers live access by webcast or telephone with operator assistance, plus a replay available through August 19, 2026 at 11:59 p.m. ET.
TeraWulf (Nasdaq: WULF) announced a 20-year lease with Anthropic for its Justified Data AI campus in Kentucky, expected to generate about $19 billion of contracted revenue. The 401 MW site should phase in from 2H 2027 to early 2028.
TeraWulf will also sell its 50.1% stake in the 168 MW Abernathy Joint Venture to a Fluidstack-led group, monetizing roughly $450 million of invested capital at a premium and freeing funds to expand wholly owned AI infrastructure assets.
Corvex (Nasdaq:MOVE), an AI computing platform focused on GPU-accelerated infrastructure, plans to add Patrick A. Fleury to its Board of Directors, subject to election at the upcoming annual meeting.
Fleury, CFO of TeraWulf, brings over $8 billion in financing experience as Corvex scales its AI cloud infrastructure and prepares to launch its token factory.