---
schema_version: "secwatch.filing_event.v1"
accession: "0001083301-26-000026"
form_type: "8-K"
ticker: "WULF"
cik: "0001083301"
company_name: "TERAWULF INC."
filed_at: "2026-02-26T23:59:59+00:00"
generated_at: "2026-05-15T23:23:31.438811+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# TeraWulf FY2025 revenue $168.5M; adj. EBITDA loss $23.1M; 522 MW HPC contracted

## Summary
- Full year 2025 revenue $168.5M, non-GAAP adjusted EBITDA $(23.1)M; cash $3.72B as of Dec 31, 2025.
- Contracted 522 critical IT MW with $12.8B total revenue; HPC lease Q4 rev $9.7M (vs $7.2M Q3).
- Lake Mariner expansion: 39 MW online; CB2B due March 2026; CB3 mid-May; CB4 Q3; CB5 Q4 2026.
- Post-year-end acquisitions in Kentucky (MISO) and Maryland (PJM) expand platform to ~2.9 GW gross.
- Digital asset revenue Q4 $26.1M (down from $43.4M Q3) due to lower bitcoin production and price.

## SEC filing metadata
- accession: 0001083301-26-000026
- form_type: 8-K
- ticker: WULF
- cik: 0001083301
- company_name: TERAWULF INC.
- filed_at: 2026-02-26T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1083301/000108330126000026/0001083301-26-000026-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1083301/000108330126000026/wulf-20260226.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001083301-26-000026
- JSON: https://secwatch.observer/filing/0001083301-26-000026.json
- Plain text: https://secwatch.observer/filing/0001083301-26-000026.txt

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