secwatch.observer — SEC 8-K summary
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Issuer:     TERAWULF INC. (WULF)
CIK:        0001083301
Form:       8-K
Filed at:   2025-08-08T23:59:59+00:00
Accession:  0001083301-25-000058
Event type: earnings
Sentiment:  neutral
Materiality: 0.75
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

TeraWulf Q2 revenue up 34% to $47.6M; HPC hosting begins in Q3 but bitcoin self-mined down 31%
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- Revenue $47.6M (+34% YoY); cost of revenue (excl dep) $22.1M (+59%); adjusted EBITDA $14.5M vs $19.5M.
- Self-mined 485 bitcoin vs 699 in Q2 2024; power cost per bitcoin $45,555 (up from $22,954).
- BTC mining capacity 12.8 EH/s (+45.5% YoY).
- HPC hosting: delivering 72.5 MW to Core42; revenue began in July; targeting 200-250 MW by year-end 2026.
- Cash and equivalents $90M; debt $500M convertible notes; 391.9M shares outstanding.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1083301/000108330125000058/0001083301-25-000058-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1083301/000108330125000058/wulf-20250808.htm
  HTML page:      https://secwatch.observer/filing/0001083301-25-000058

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer