Terawulf Inc SEC Filings

TERAWULF INC. Chief Technology Officer Nazar M. Khan reported vesting of performance-based restricted stock units tied to common stock. He exercised 817,635 performance stock units into the same number of common shares at $0.0000 per share.

Of these shares, 452,152 were disposed of back to the issuer to withhold shares to cover taxes following his election of net settlement, leaving 1,104,109 common shares held directly after the disposition. Khan also reports indirect beneficial ownership through several vehicles, including The Nazar M. Khan Revocable Trust, Lake Harriet Holdings LLC, various trusts, and the Yaqeen I Trust, while disclaiming beneficial ownership beyond his pecuniary interest in certain trusts.

TERAWULF INC. Chief Strategy Officer Kerri M. Langlais reported performance-based equity vesting and related share movements. On May 6, 2026, 327,054 performance stock units vested upon achievement of specified performance goals and were converted into an equal number of common shares at $0.0000 per share.

In connection with the vesting, 180,860 common shares were disposed of to the issuer to withhold shares to cover taxes under a net settlement election, rather than through an open-market sale. After these transactions, Langlais directly holds 4,191,547 shares of TERAWULF common stock. Remaining performance stock units are scheduled to vest upon future goal achievement through the third anniversary of January 2, 2026, subject to continued service.

TERAWULF INC. Chief Financial Officer Patrick Fleury reported compensation-related stock transactions involving performance-based restricted stock units. On May 6, 2026, he exercised 327,054 performance stock units, receiving the same number of shares of common stock as they vested upon achievement of specified performance goals tied to dates up to the third anniversary of January 2, 2026.

In connection with this vesting and his election of net settlement, 128,695 shares of common stock were disposed of back to the issuer to cover tax withholding obligations. Following these transactions, Fleury directly holds 3,807,160 shares of TERAWULF common stock.

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 first quarter 2026 results that highlight a major shift toward high-performance computing (HPC) leasing while incurring a much larger GAAP loss. Revenue was $34.0 million, including $21.0 million of HPC lease revenue, as the company continued moving away from bitcoin mining toward contracted compute infrastructure.

TeraWulf reported a net loss attributable to the company of $427.6 million, or $1.01 per share, driven by high selling, general and administrative expenses, significant non-cash items such as a $216.3 million loss from the change in fair value of warrants, $101.4 million of stock-based compensation, and $25.7 million of impairment charges.

Adjusted EBITDA was a loss of $4.1 million, modestly improved from the prior year, as HPC margins expanded. The company ended the quarter with approximately $3.1 billion of cash, cash equivalents and restricted cash and total assets of $7.0 billion, alongside $7.1 billion of liabilities and a stockholders’ deficit position, reflecting heavy use of debt and warrant financing to fund an extensive 2.3 GW HPC development pipeline.

Jane Street Group and related entities reported beneficial ownership of 5.8% of Terawulf Inc. common stock, representing 27,751,813 shares as disclosed on 05/04/2026. The filing lists shared voting and dispositive power for that aggregate position and identifies subsidiaries that hold the shares.

Terawulf Inc reported that Vanguard Portfolio Management beneficially owned 22,741,937 shares of Common Stock, representing 5.36% of the class as of 03/31/2026.

The filing states Vanguard has sole voting power over 279,515 shares and sole dispositive power over 22,741,937 shares. The disclosure notes holdings include shares held for Vanguard funds and managed accounts.

TeraWulf Inc. CEO Paul B. Prager reported open-market sales of 216,700 shares of common stock. The sales on April 27–28 were executed at weighted average prices including $20.5129, $21.1976, $20.6236 and $21.2900 per share. Following these transactions, he held 884,420 shares directly.

The filing also lists large indirect holdings by entities such as Riesling Power LLC, Beowulf E&D Holdings Inc., Stammtisch Investments LLC, Allin WULF LLC and Heorot Power Holdings LLC. Prager is described as manager or trustee for these entities and may be deemed to beneficially own their shares, while formally disclaiming beneficial ownership beyond his pecuniary interest.

Morgan Stanley Smith Barney LLC submitted a Form 144 notice relating to restricted stock units and recent planned sales by a reporting person. The filing lists 79,200 restricted stock units dated 01/02/2025 and multiple 10b5-1 sales by Paul B. Prager: 03/24/2026, 03/25/2026, and 04/27/2026, each showing 137,500 shares sold with listed gross proceeds.