TeraWulf Q3 revenue $76.2 million, HPC leasing revenue accounts for about 83%.

November 6 — Bitcoin mining company TeraWulf released its Q3 2026 financial report, with quarterly revenue of $76.2 million, of which high-performance computing (HPC) leasing revenue was $63 million, accounting for approximately 83%. Net profit was approximately $709.9 million, boosted by a non-cash change in the fair value of warrants; non-GAAP adjusted EBITDA was negative $12.8 million.

As of September 30, the Lake Mariner campus had 102MW of critical IT capacity in operation, with another 336MW under construction. CB-4 is expected to be delivered in phases in Q4 and begin generating rental income, while CB-5 is expected to begin phased delivery in early 2027. The company ended the quarter with approximately $2.4 billion in cash, cash equivalents, and restricted cash.

The company also disclosed that it has signed a 20-year lease with Anthropic for approximately 401MW of critical IT capacity, with initial lease term contracted revenue of approximately $19 billion, and has obtained Google's credit support for the financing of the related proposed projects. Facilities related to the Justified campus are expected to reach ready-for-service status in phases between the end of 2027 and Q2 2028.