TeraWulf

WULF

Market cap $6.79B

TeraWulf Inc. (WULF) Q4 2025 Earnings Call Transcript

WULF posts a wider-than-expected Q4 loss and revenue miss but locks in $12.8B in long-term HPC leases to fuel its AI-driven pivot.

Yesterday, the market was watching to see whether TeraWulf‘s (NASDAQ: WULF) accelerating HPC pivot would offset continued pressure on its bitcoin mining segment.

TeraWulf Inc. is rapidly transitioning from Bitcoin mining to high-margin HPC infrastructure, with Q4 further shrinking its legacy mining business. Q4 results were distorted by a $429.8M non-cash warrant revaluation, but underlying HPC segment margins reached an impressive 77%, signaling strong unit economics. WULF now trades at ~$15.1M per contracted MW, a 45% discount to CoreWeave's EV/MW, implying significant valuation expansion potential if execution remains flawless.

TeraWulf Inc. (WULF) came out with a quarterly loss of $0.28 per share versus the Zacks Consensus Estimate of a loss of $0.13. This compares to a loss of $0.08 per share a year ago.

TeraWulf, Inc. (NASDAQ: WULF) shares dropped in Thursday's extended trading after the company released its fourth-quarter earnings report, missing estimates on the top and bottom lines.

EASTON, Md., Feb. 26, 2026 (GLOBE NEWSWIRE) -- TeraWulf Inc. (Nasdaq: WULF) (“TeraWulf” or the “Company”), a leading owner and operator of vertically integrated digital infrastructure, today announced that it will host a lender construction update call for its wholly owned subsidiary, WULF Compute.

Contracted  522 critical IT MW totaling over $12.8 billion 1 of revenue Secured full funding for contracted capacity with construction advancing in alignment with tenant deployment timelines Multi-year development pipeline enables targeted annual delivery of 250 - 500 critical IT MW through the end of the decade EASTON, Md., Feb. 26, 2026 (GLOBE NEWSWIRE) -- TeraWulf Inc. (Nasdaq: WULF) (“TeraWulf” or the “Company”), an owner, developer, and operator of energy-advantaged digital infrastructure purpose-built for high-performance computing (“HPC”) and artificial intelligence (“AI”), today announced its financial and operational results for the fourth quarter and full year ended December 31, 2025.

WULF readies Q4 results amid surging HPC expansion, major financings and rising revenues, but widening losses and dilution loom large.

TeraWulf (WULF) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.