Every 10-Q that TeraWulf Inc. (WULF) has filed with the SEC in the last 24 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-Q covers the quarterly report filed between annual reports, so if you follow WULF and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full WULF filings page.
TeraWulf Inc. reported Q2 2026 total revenue of $44,767 (figures in tables are in thousands), as its business mix shifted toward high‑performance computing leasing. Digital asset revenue was $12,835 while new HPC lease revenue reached $31,932, with two customers driving this segment.
The company generated an operating loss of $140,450 and a net loss attributable to TeraWulf of $939,917, driven by $755,667 of noncash loss from the change in fair value of warrant liabilities, $56,389 of interest expense and higher selling, general and administrative costs. Net cash used in operating activities was $154,300 for the first half of 2026.
TeraWulf is aggressively expanding its low‑carbon digital infrastructure footprint. Property, plant and equipment, net rose to $3,600,191, reflecting investments in the Justified Data Campus (total consideration $301,938) and Muskie Data Campus ($167,461), as well as Lake Mariner HPC build‑out. The company also recorded a $16,549 asset retirement obligation and posts substantial warrant liabilities of $1,816,690 against total assets of $8,048,395.
TeraWulf Inc. reported a sharp Q1 2026 net loss of $427.6 million, or $1.01 per share, while reshaping its business toward high‑performance computing (HPC) datacenters.
Total revenue was $34.0 million, roughly flat year over year, but the mix changed: bitcoin mining revenue fell and was partly replaced by HPC lease revenue of $21.0 million from long‑term datacenter agreements. Costs surged to $196.2 million, driven by a big increase in selling, general and administrative expenses, impairment charges on mining assets, and higher depreciation.
Below the operating line, results were heavily affected by $216.3 million of losses from revaluing warrant liabilities and $67.1 million of interest expense, contributing to a negative equity position. The company is investing aggressively, including a $301.9 million Hawesville site acquisition and continued build‑out at its Lake Mariner campus, funded by substantial debt but supported by cash and restricted cash totaling $3.09 billion.
TeraWulf Inc. reported Q3 results and expanded into HPC leasing. Total revenue was $50.6 million, up from $27.1 million a year ago, driven by digital asset revenue of $43.4 million and new HPC lease revenue of $7.2 million. Segment profit was $23.8 million for Digital Asset Mining and $5.2 million for HPC Leasing. The company recorded a net loss of $(455.1) million, primarily due to a non-cash $(424.6) million change in the fair value of warrant and derivative liabilities.
Cash and cash equivalents were $711.3 million as of September 30, 2025, supported by $975.3 million in net proceeds from convertible notes during the period. Convertible notes were $1,060.2 million, and warrant liabilities totaled $839.5 million (current and noncurrent). Property, plant and equipment reached $861.8 million, reflecting significant infrastructure buildout. Total assets were $2,454.4 million and total stockholders’ equity was $247.3 million. There were 418,681,881 shares of common stock outstanding as of November 7, 2025.
TeraWulf reported increased revenue but larger losses in the first half of 2025. Revenue was $47.6 million for the quarter and $82.0 million for the six months, up from $35.6 million and $78.0 million a year earlier, respectively. Despite higher sales, the company recorded a net loss of $(18.4) million for the quarter and $(79.8) million for the six months, widening the accumulated deficit to $(412.1) million.
The balance sheet shows total assets of $869.4 million and total liabilities of $695.1 million. Cash and cash equivalents fell to $89.993 million from $274.065 million at year-end 2024 after $213.6 million of purchases of plant and equipment and other investing activity. Property, plant and equipment, net rose to $604.8 million. TeraWulf completed the Beowulf E&D acquisition for $54.6 million, recording $55.5 million of goodwill and $30.0 million of contingent consideration. The company holds $500.0 million principal in 2030 convertible notes (net carrying $488.7 million) and received $90.0 million of prepaid rent for future HPC leases, recorded as deferred rent.