---
schema_version: "secwatch.filing_event.v1"
accession: "0001083301-23-000052"
form_type: "8-K"
ticker: "WULF"
cik: "0001083301"
company_name: "TERAWULF INC."
filed_at: "2023-11-13T23:59:59+00:00"
generated_at: "2026-06-08T04:36:24.556136+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# TeraWulf reports Q3 revenue $19.0M (+22.6% QoQ); self-mined 994 BTC; Adjusted EBITDA $9.0M

## Summary
- Revenue $19.0M, up 22.6% vs Q2; gross profit $10.7M, gross margin 56.4% (down from 66.9% on higher power costs and network difficulty).
- Self-mined 994 Bitcoin (+9.5% QoQ); average power cost per BTC $9,322 (+29.5% QoQ).
- Non-GAAP Adjusted EBITDA $9.0M (+18.5% QoQ); expects to repay ~$7M debt from Q3 cash, $5.5M repaid in October.
- Ordered 18,500 BITMAIN S19j XP miners (2.8 EH/s) at $19/TH, delivery Dec 2023; host-to-own structure defers capital outlays.
- Total installed hashrate 5.5 EH/s (+267% YoY); expanding Lake Mariner facility from 110 MW to 153 MW by year-end.

## SEC filing metadata
- accession: 0001083301-23-000052
- form_type: 8-K
- ticker: WULF
- cik: 0001083301
- company_name: TERAWULF INC.
- filed_at: 2023-11-13T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1083301/000108330123000052/0001083301-23-000052-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1083301/000108330123000052/wulf-20231113.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001083301-23-000052
- JSON: https://secwatch.observer/filing/0001083301-23-000052.json
- Plain text: https://secwatch.observer/filing/0001083301-23-000052.txt

## Key facts
- Earnings Releases
  TERAWULF INC. reported the fiscal quarter ended September 30, 2023 results: revenue $19.0 million.
  - Period: the fiscal quarter ended September 30, 2023
  - Revenue: $19.0 million
  - Result: reported results
  source text: or otherwise subject to the liabilities of that section. --- EX-99.1 (EX-99.1) --- wulfq323earningsprfinal1 TeraWulf Reports Third Quarter 2023 Financial Results Revenue of $19.0 million in Q3 2023, an increase of 22.6% over Q2 2023, on a total installed hashrate of 5.5 EH/s. Self-mined 994 Bitcoin in Q3 2023, a 9.5% increase over Q2 2023. Non-GAAP Adjusted
  evidence_url: https://www.sec.gov/Archives/edgar/data/1083301/000108330123000052/0001083301-23-000052-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.