TeraWulf (NASDAQ:WULF) Releases Quarterly Earnings Results

Posted by Francis Steltz on Aug 5th, 2026

TeraWulf (NASDAQ:WULF – Get Free Report) released its quarterly earnings results on Wednesday. The company reported ($1.94) EPS for the quarter, missing analysts’ consensus estimates of ($0.24) by ($1.70), FiscalAI reports. TeraWulf had a negative return on equity of 305.07% and a negative net margin of 611.46%.The business had revenue of $44.77 million for the quarter, compared to analyst estimates of $46.00 million. During the same period in the prior year, the business earned ($0.05) EPS. The company’s revenue for the quarter was down 6.0% compared to the same quarter last year.

Here are the key takeaways from TeraWulf’s conference call:

Lake Mariner execution advanced: CB3 is online and generating lease revenue, bringing operating critical IT capacity to 102 megawatts. CB4 remains on track for first-hall revenue in late September, while CB5 is expected to begin energization in early January.
TeraWulf signed a 401-megawatt, 20-year lease with Anthropic at the Justified Data campus, representing approximately $19 billion of contracted revenue and expanding its direct customer relationships.
The acquisition of the gigawatt-scale Muskie campus adds a utility-supported Kentucky development platform with contracted electric service expected in late 2028, while demand discussions could support expansion to as much as 2 gigawatts.
TeraWulf agreed to sell its 50.1% Abernathy interest for approximately $530 million, including $250 million received in July, allowing it to recycle capital into projects it directly controls. Management said current liquidity and expected proceeds can fund Lake Mariner commitments, Muskie equity, Chesapeake, and other near-term opportunities without issuing additional equity.
Second-quarter revenue rose to $44.8 million, but adjusted EBITDA was negative $18.3 million and GAAP net loss widened to $939.9 million, primarily because of a $755.7 million non-cash loss on Google warrants. Electrical labor constraints, evolving customer designs, and higher project costs lifted the estimated WULF Compute cost to approximately $9.1 million per critical megawatt.

TeraWulf Stock Down 3.6%

Shares of WULF traded down $0.68 during mid-day trading on Wednesday, hitting $18.20. 20,977,451 shares of the company’s stock were exchanged, compared to its average volume of 31,695,705. The company has a debt-to-equity ratio of 33.00, a current ratio of 1.20 and a quick ratio of 1.20. TeraWulf has a 52 week low of $4.67 and a 52 week high of $29.84. The company has a market cap of $9.02 billion, a PE ratio of -7.40 and a beta of 3.76. The company has a 50-day simple moving average of $23.07 and a 200 day simple moving average of $19.41.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on WULF shares. Rosenblatt Securities reissued a “buy” rating and set a $30.00 target price on shares of TeraWulf in a research note on Wednesday, July 15th. Oppenheimer reaffirmed an “outperform” rating and issued a $35.00 price target on shares of TeraWulf in a research note on Wednesday, May 27th. Northland Securities set a $30.00 price target on shares of TeraWulf in a report on Monday, May 4th. Roth Capital reissued a “buy” rating and set a $32.00 price objective on shares of TeraWulf in a research report on Friday, April 17th. Finally, B. Riley Financial raised their price objective on shares of TeraWulf from $32.00 to $40.00 and gave the stock a “buy” rating in a report on Monday. Two research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $34.74.

Check Out Our Latest Stock Analysis on WULF

Insider Activity at TeraWulf

In related news, CEO Paul B. Prager sold 137,500 shares of the stock in a transaction on Monday, June 29th. The shares were sold at an average price of $26.60, for a total transaction of $3,657,500.00. Following the completion of the transaction, the chief executive officer owned 3,945,052 shares in the company, valued at approximately $104,938,383.20. This represents a 3.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 15.90% of the stock is currently owned by corporate insiders.

Institutional Trading of TeraWulf

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Fieldview Capital Management LLC bought a new position in TeraWulf in the fourth quarter valued at approximately $147,000. Ameriprise Financial Inc. bought a new stake in shares of TeraWulf during the 3rd quarter worth approximately $146,000. Captrust Financial Advisors bought a new stake in shares of TeraWulf during the 2nd quarter worth approximately $136,000. One68 Global Capital LLC acquired a new stake in shares of TeraWulf in the 4th quarter valued at approximately $134,000. Finally, Brooklyn Investment Group acquired a new stake in shares of TeraWulf in the 4th quarter valued at approximately $128,000. Institutional investors and hedge funds own 62.49% of the company’s stock.

About TeraWulf

(Get Free Report)

TeraWulf, Inc (NASDAQ: WULF) is a digital asset infrastructure company focused on the development and operation of zero-carbon bitcoin mining facilities. The company integrates sustainable power generation with high-density data center technologies to deliver environmentally responsible digital asset mining services. Its core business revolves around designing, building and operating large-scale mining projects powered exclusively by renewable or emissions-free energy sources.

One of TeraWulf’s flagship projects is “Project Nautilus,” located in Tompkins County, New York, which harnesses hydroelectric power sourced from the New York State Electric & Gas (NYSEG) grid.