TeraWulf Q2 revenue misses expectations

TeraWulf

05/08/2026 12:11

Overview
Digital infrastructure operator's Q2 revenue fell short of analyst expectations
HPC lease revenue comprised 71% of total Q2 revenue
Company signed 20-year Anthropic lease worth up to $33 bln and agreed to sell Abernathy JV stake for ~$530 mln

Outlook
TeraWulf reaffirms target of contracting 250–500 MW of incremental critical IT capacity annually

Result Drivers
CAPACITY EXPANSION - Additional contracted IT capacity at Lake Mariner increased recurring lease revenue and unlocked $600 mln of Google credit support, per management
STRATEGIC ASSET MOVES - Company agreed to monetize Abernathy JV interest for $530 mln and acquired Muskie Data Campus to suppor future growth

Company press release: ID:nGNX2nKzRh

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Revenue
Miss
$44.80 mln
$46.39 mln (15 Analysts)
Q2 Loss Per Share
 
$1.94
 
Q2 Net Loss
 
$940.83 mln
 
Q2 Operating Income
 
-$140.45 mln
 

Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 19 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"
The average consensus recommendation for the blockchain & cryptocurrency peer group is "buy"
Wall Street's median 12-month price target for TeraWulf Inc. is $35.00, about 85.4% above its August 4 closing price of $18.88

Reuters Recommended Reads
Aug 4 - DigitalBridge Q2 net income surges
Aug 5 - Iron Mountain Q2 revenue beats on strong data center demand
Aug 4 - Texas governor orders pause on new data center approvals pending audit

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)