TeraWulf Reports $44.77 Million Revenue and $940.8 Million Net Loss in Q2 2026

Foresight News reported that Bitcoin miner TeraWulf (Nasdaq: WULF) posted total revenue of $44.77 million in the second quarter of 2026. HPC leasing revenue was $31.93 million, accounting for about 71% of total revenue, while net loss widened to $940.8 million, mainly due to a $755.7 million loss from changes in warrant fair value.According to Foresight News, adjusted EBITDA showed a loss of $18.34 million, and cash plus restricted cash totaled about $300 million as of June 30.At the Lake Mariner data center campus, 102 MW of critical IT capacity was in operation by early July, with another 336 MW under construction. The company said its critical IT construction cost guidance remains between $8 million and $10 million per MW. After CB-3 delivery, Google’s $600 million credit support for Fluidstack’s lease obligations became effective. TeraWulf is also seeking approval for an additional 250 MW of power capacity. The Lake Hawkeye campus covers about 183 acres and has potential capacity of about 320 MW of critical IT load, with operations not expected before 2029.After the quarter, the company signed a 20-year data center lease with Anthropic for about 401 MW of critical IT capacity at the Justified campus in Kentucky. The contract is expected to generate about $1.9 billion in revenue over the term, rising to about $3.3 billion if Anthropic exercises two five-year renewal options, with initial deliveries expected to begin in the second half of 2027. TeraWulf also sold a 50.1% stake in the Abernathy joint venture for about $530 million and acquired the Muskie Data Campus in Kentucky, securing up to a 1 GW power services agreement. The Federal Energy Regulatory Commission approved the acquisition of the Morgantown power station in Maryland, removing a major regulatory hurdle for the Chesapeake Data Campus, which could expand to as much as 1 GW and is expected to begin data center operations around 2030. The company reaffirmed its target of signing 250 MW to 500 MW of new critical IT capacity each year.