TeraWulf Reports $44.77 Million Second-Quarter Revenue, HPC Leasing Contributes 71%

TeraWulf reported second-quarter 2026 revenue of $44.77 million, with HPC leasing revenue of $31.93 million, or about 71% of total revenue. According to Odaily, the company said 102 megawatts of revenue-generating IT capacity at its Lake Mariner project in New York has gone live, while another 336 megawatts is under construction.TeraWulf also said the unit IT capacity cost remains between $8 million and $10 million per megawatt. It completed the acquisition of Kentucky’s Muskie Data Campus, which gives it access to as much as 1 gigawatt of power support. The company said its Justified campus signed a lease with Anthropic for about 401 megawatts over 20 years, with an initial contract value of about $19 billion.In addition, TeraWulf said it will transfer its 50.1% stake in the Abernathy joint venture for $530 million in cash. The company also reiterated its target of signing 250 megawatts to 500 megawatts of new IT capacity annually.