TeraWulf Reports Q3 2026 Revenue Growth Driven by High-Performance Computing Leases
TeraWulf (WULF) reported a significant increase in third-quarter revenue, reaching $76.2 million compared to $44.8 million in the previous quarter. This growth was primarily driven by its high-performance computing (HPC) segment, which contributed $63.0 million—approximately 83% of total quarterly revenue—following the commencement of the CB3 lease. The company reported a GAAP net income of $709.9 million, largely due to non-cash fair value adjustments regarding Google warrants and gains from the sale of its interest in the Abernathy joint venture. While Non-GAAP Adjusted EBITDA was negative at $12.8 million due to scaling costs, TeraWulf maintains a strong liquidity position with $2.4 billion in cash and restricted cash, which management intends to use to fund contracted developments without further equity dilution.
Topics: GAAP Net Income High-Performance Computing HPC Lease Revenue Joint Venture Sale Revenue Growth