---
schema_version: "secwatch.filing_event.v1"
accession: "0001558370-23-014704"
form_type: "8-K"
ticker: "WULF"
cik: "0001083301"
company_name: "TERAWULF INC."
filed_at: "2023-08-14T23:59:59+00:00"
generated_at: "2026-06-11T09:57:42.777986+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# TeraWulf Q2 2023 revenue $15.5M (+34% QoQ); self-mined 908 Bitcoin, hashrate up 67% to 5.5 EH/s

## Summary
- Gross profit $10.3M (gross margin 67%, +18% QoQ); power cost per Bitcoin fell 17% to $7,197.
- Adjusted EBITDA improved to $7.6M vs negative $7.1M in prior-year Q2.
- Expanding Lake Mariner by 43 MW with 18,500 S19j XP miners; target 7.9 EH/s by year-end.
- Self-mining hashrate capacity reached 5.5 EH/s (+67% from Q1); Nautilus 50 MW fully operational.

## SEC filing metadata
- accession: 0001558370-23-014704
- form_type: 8-K
- ticker: WULF
- cik: 0001083301
- company_name: TERAWULF INC.
- filed_at: 2023-08-14T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1083301/000155837023014704/0001558370-23-014704-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1083301/000155837023014704/wulf-20230814x8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001558370-23-014704
- JSON: https://secwatch.observer/filing/0001558370-23-014704.json
- Plain text: https://secwatch.observer/filing/0001558370-23-014704.txt

## Key facts
- Earnings Releases
  TERAWULF INC. reported second quarter of fiscal year 2023 results: revenue $15.5 million.
  - Period: second quarter of fiscal year 2023
  - Revenue: $15.5 million
  - Result: reported results
  source text: results for the second quarter of fiscal year 2023 and provided an operational update. Second Quarter 2023 GAAP Operational and Financial Highlights ● Revenue increased to $15.5 million in 2Q23 compared to $11.5 million in 1Q23. ● Gross profit increased to $10.3 million in 2Q23 compared to $6.5 million in 1Q23, and gross profit margin expanded by 18% from 57% in
  evidence_url: https://www.sec.gov/Archives/edgar/data/1083301/000155837023014704/0001558370-23-014704-index.htm

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