TeraWulf Reports Third Quarter 2026 Results
Globe Newswire•06/11/2026•07:00 ET
0
Key Highlights
- ➤HPC lease revenue reached $63.0 million, approximately 83% of third-quarter revenue
- ➤Net income increased to approximately $709.9 million, benefiting from non-cash warrant fair-value changes
- ➤Anthropic lease covers approximately 401 MW, representing approximately $19 billion in contracted revenue
- ➤Lake Mariner operated 102 MW of revenue-generating critical IT capacity
- ➤Muskie contracted power capacity expanded to 1 GW, subject to regulatory approval
Expert Statements
Paul Prager, Chairman and Chief Executive Officer of TeraWulf
“Third-quarter results reflect strong execution across the business. Lake Mariner is delivering contracted capacity and generating revenue, Justified has the customer, credit support and construction framework to move forward at scale, and Muskie gives us a contracted path to a gigawatt of power. We remain disciplined about where we deploy capital and the returns we require. Our focus is simple: execute on our commitments, protect our economics and create long-term value for shareholders.”
Patrick Fleury, Chief Financial Officer of TeraWulf
“We ended the quarter with substantial liquidity and further strengthened our financial flexibility through the Abernathy monetization and expansion of our revolving credit facility. With Lake Mariner progressing within cost guidance and Justified supported by investment-grade credit, we remain well positioned to fund our contracted development while maintaining balance sheet flexibility.”
HPC lease revenue reaches $63.0 million, representing ~83% of third-quarter revenue
102 MW of critical IT capacity online at Lake Mariner, with an additional 336 MW under construction and progressing within cost guidance
Get started
Create a free account to read the full story.