TeraWulf (NASDAQ:WULF) Releases Quarterly Earnings Results

TeraWulf (NASDAQ:WULF) posted its quarterly earnings data on Wednesday. The company reported ($1.94) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.24) by ($1.70), FiscalAI reports. The company had revenue of $44.77 million for the quarter, compared to analysts’ expectations of $45.32 million. TeraWulf had a negative return on equity of 305.07% and a negative net margin of 611.46%.The firm’s revenue was down 6.0% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.05) EPS.

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 Performance

Shares of WULF traded down $0.37 during mid-day trading on Thursday, reaching $17.70. 16,684,329 shares of the company’s stock were exchanged, compared to its average volume of 31,641,797. The company has a debt-to-equity ratio of 33.00, a current ratio of 1.20 and a quick ratio of 1.20. The stock has a market capitalization of $8.77 billion, a PE ratio of -7.13 and a beta of 3.76. The business’s fifty day simple moving average is $22.89 and its 200-day simple moving average is $19.44. TeraWulf has a 52-week low of $4.67 and a 52-week high of $29.84.

More TeraWulf News

Here are the key news stories impacting TeraWulf this week:

• Positive Sentiment: Rosenblatt Securities reaffirmed its Buy rating and assigned a $30 price target, implying substantial upside from recent trading levels. The target reflects optimism about TeraWulf’s positioning in power-intensive AI and data-center infrastructure. Benzinga analyst rating report
• Positive Sentiment: Chardan Capital also reiterated a Buy rating and set a $32 price target, reinforcing the view that the company’s expansion plans could support significant longer-term appreciation. Benzinga analyst rating report
• Positive Sentiment: TeraWulf reported 102 megawatts of revenue-generating critical IT capacity online at Lake Mariner, with another 336 megawatts under construction. Management said delivery remains within its cost and schedule guidance, providing a potential catalyst for future revenue growth. TeraWulf Reports Second Quarter 2026 Results
• Positive Sentiment: Federal approval for the Morgantown plant removes an important development hurdle and could expand TeraWulf’s ability to serve the growing AI and high-performance-computing market. TeraWulf gets federal approval for Morgantown plant
• Neutral Sentiment: Chief Executive Officer Paul Prager said TeraWulf is moving toward “scaled execution,” with access to power increasingly important in the AI infrastructure race. The strategy is promising, but its investment case depends on successfully bringing planned capacity online and improving profitability. WULF CEO discusses scaled execution
• Negative Sentiment: Second-quarter results were weak: reported EPS of approximately -$1.94 missed the consensus estimate of -$0.24 by a wide margin, while revenue of $44.77 million declined 6% year over year and slightly missed expectations. TeraWulf also posted deeply negative margins and return on equity, underscoring continued execution and profitability risks. TeraWulf second-quarter results

Analysts Set New Price Targets

Several research analysts recently commented on the company. Rosenblatt Securities reissued a “buy” rating and set a $30.00 target price on shares of TeraWulf in a research note on Thursday. Lucid Cap Mkts raised TeraWulf to a “strong-buy” rating in a research report on Wednesday, May 27th. Zacks Research cut shares of TeraWulf from a “hold” rating to a “strong sell” rating in a report on Thursday, July 9th. Weiss Ratings reiterated a “sell (d-)” rating on shares of TeraWulf in a research note on Wednesday, June 24th. Finally, Jefferies Financial Group started coverage on shares of TeraWulf in a report on Thursday, May 14th. They issued a “buy” rating and a $28.00 price objective on the stock. Two research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, one has given a Hold rating and two have given a Sell rating to the company. According to MarketBeat, TeraWulf presently has a consensus rating of “Moderate Buy” and a consensus price target of $34.74.

Insider Transactions at TeraWulf

In related news, CEO Paul B. Prager sold 166,650 shares of the business’s stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $24.43, for a total value of $4,071,259.50. Following the transaction, the chief executive officer owned 4,249,202 shares in the company, valued at $103,808,004.86. The trade was a 3.77% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 15.90% of the stock is owned by company insiders.

Institutional Investors Weigh In On TeraWulf

Several hedge funds have recently modified their holdings of WULF. Advisory Services Network LLC acquired a new stake in shares of TeraWulf in the 3rd quarter worth $29,000. Comerica Bank lifted its position in TeraWulf by 3,748.5% in the first quarter. Comerica Bank now owns 12,700 shares of the company’s stock valued at $35,000 after purchasing an additional 12,370 shares during the period. Rafferty Asset Management LLC acquired a new position in TeraWulf during the 2nd quarter worth approximately $53,000. Russell Investments Group Ltd. raised its stake in shares of TeraWulf by 34.6% during the 2nd quarter. Russell Investments Group Ltd. now owns 14,018 shares of the company’s stock worth $61,000 after buying an additional 3,601 shares in the last quarter. Finally, Sender Co & Partners Inc. acquired a new stake in shares of TeraWulf in the 2nd quarter valued at approximately $67,000. 62.49% of the stock is owned by institutional investors and hedge funds.

TeraWulf Company Profile

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.