Terawulf Inc. ( (WULF) ) has released its Q3 earnings. Here is a breakdown of the information Terawulf Inc. presented to its investors.
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TeraWulf Inc. is a company that develops, owns, and operates environmentally sustainable, industrial-scale data center infrastructure in the United States, focusing on high-performance computing (HPC) hosting and bitcoin mining.
In its third quarter of 2025, TeraWulf reported significant growth and strategic milestones, including the commencement of recurring HPC lease revenue and the signing of over $17 billion in long-term customer contracts. The company also completed more than $5 billion in long-term financings to support its expanding platform.
Key highlights from the quarter include the expansion of the Lake Mariner Campus in New York, which now boasts 245 MW of Bitcoin-mining capacity and 22.5 MW of HPC capacity. TeraWulf also formed the Abernathy Joint Venture in Texas, designed for 240 MW of capacity with potential expansion to 600 MW, backed by Google credit enhancement. Financially, the company achieved a revenue of $50.6 million, marking an 87% increase year-over-year, and ended the quarter with $712.8 million in cash.
Looking ahead, TeraWulf remains focused on execution and growth, with plans for large-scale HPC deployment at its Cayuga site beginning in 2027. The company aims to continue its expansion strategy, targeting 250–500 MW of new HPC lease signings annually, supported by a robust development pipeline and growing demand for low-cost, low-carbon compute capacity.