Recent Updates — WULF
On October 23, 2026, TeraWulf Inc. entered into Amendment No. 1 to its Existing Credit Agreement with Morgan Stanley Senior Funding, Inc., as administrative agent. The amendment increases total commitments under the senior secured revolving credit facility from $250 million to approximately $400 million. It also introduces an uncommitted accordion feature allowing for an additional increase of approximately $150 million, subject to lender availability and other conditions, while eliminating a previous $150 million sublimit on letters of credit. The filing incorporates this information under Item 2.03 regarding the creation of a direct financial obligation.
TeraWulf executed an amended and restated transmission infrastructure agreement with Kentucky Power, increasing the contracted power capacity at its Muskie Data Campus in eastern Kentucky from 500 megawatts to 1 gigawatt. The amendment advances the planned delivery of the second 500 MW phase from 2030 to 2029, subject to regulatory approval and construction schedules. The first 500 MW phase remains targeted to begin ramping in 2028. Additionally, TeraWulf intends to increase the size of its existing senior secured revolving credit facility and seek additional senior secured debt to support letter of credit needs for long-term power development partnerships. TeraWulf develops, owns, and operates large-scale digital infrastructure purpose-built for high-performance computing and artificial intelligence workloads.
TeraWulf reported second-quarter 2026 revenue of $44.8 million, driven by $31.9 million in high-performance computing lease revenue. The company ended the quarter with approximately $3.0 billion in cash and restricted cash. Operationally, TeraWulf delivered CB-3 at its Lake Mariner campus, bringing total revenue-generating capacity to 102 MW, while continuing construction on an additional 336 MW. Subsequent to the quarter, the company entered a 20-year lease with Anthropic for approximately 401 MW of critical IT capacity at the Justified Data Campus in Kentucky, representing roughly $19 billion in contracted revenue over the initial term. TeraWulf also acquired the Muskie Data Campus and agreed to sell its 50.1% interest in the Abernathy Joint Venture for approximately $530 million. The company operates large-scale digital infrastructure facilities designed for high-performance computing and artificial intelligence workloads.
TeraWulf Inc. announced two significant transactions on July 6, 2026. Its subsidiary, Raylan Data LLC, entered a 20-year lease agreement with Anthropic PBC to provide approximately 401 MW of critical IT load for high-performance computing at the company's Kentucky data center campus, with delivery starting in late 2027. Additionally, the company's subsidiary, Big Country Wulf LLC, agreed to sell all equity interests in FS CS I LLC to Fluidstack CS I Inc. and other purchasers for approximately $530 million. This consideration will be paid in three installments: $250 million within 14 days, $150 million by December 31, 2026, and approximately $130 million by April 30, 2027. TeraWulf Inc. operates in the digital asset mining and data center infrastructure industry.