Earnings ·
TeraWulf reports $76.2M Q3 revenue and $19B Anthropic lease at Justified Data
WULFTerawulf Inc.
TeraWulf reported third-quarter revenue of $76.2 million, driven by $63.0 million in HPC lease revenue representing 83% of total sales. Net income reached approximately $709.9 million, largely due to a non-cash change in the fair value of warrants, while Non-GAAP Adjusted EBITDA was negative $12.8 million. The company completed the sale of its 50.1% interest in the Abernathy Joint Venture for $250 million in cash during the quarter, with an additional $280 million expected by April 2027. TeraWulf also executed a definitive 20-year lease with Anthropic for approximately 401 MW of critical IT capacity at its Justified Data campus, valued at roughly $19 billion over the initial term, supported by a Google credit backstop and Fluor as EPC contractor. The company operates large-scale digital infrastructure in the United States.