TeraWulf reports preliminary Q1 rev $30-35M, launches $800M stock offering, secures $250M credit facility

TERAWULF INC.

Preliminary Q1 2026 revenue $30-35M, adjusted EBITDA $0-3M; >50% of revenue from HPC hosting.
Announces $800M common stock offering (plus $120M underwriter option) to fund Kentucky data center and repay debt.
Received allocations for a $250M senior secured revolving credit facility, maturing April 2030, to enhance liquidity.
Cash and equivalents $3.1B, total debt $5.8B as of March 31, 2026; convertible notes $2.5B, senior secured notes $3.2B.
Morgan Stanley lead bookrunner for offering and administrative agent for the credit facility.

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