TERAWULF INC.
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WULF FY 2025 request
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| Metric | FY 2025 | FY 2024 | YoY |
|---|---|---|---|
| Revenue From Contract With Customer Including Assessed Tax (FY) | — | — | — |
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| Crypto Mining | 151.6 | 139.3 | +8.8% |
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| Digital Asset Mining Segment | 151,556 | 140,051 | +8.2% |
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| Revenue From Contract With Customer Including Assessed Tax | 151,556 | 140,051 | +8.2% |
| Operating Lease Lease Income (FY) | — | — | — |
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| HPC Leasing Segment | 16,899 | — | — |
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| Operating Lease Lease Income | 16,899 | — | — |
| Revenue (FY) | — | — | — |
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| Revenue | 168,455 | 140,051 | +20.3% |
| Cost of Revenue (FY) | — | — | — |
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| Digital Asset Mining Segment | 80,199 | 62,608 | +28.1% |
| HPC Leasing Segment | 2,464 | — | — |
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| Cost of Revenue | 82,663 | 62,608 | +32.0% |
| Operating Costs And Expenses (FY) | — | — | — |
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| Digital Asset Mining Segment | 12,394 | 7,583 | +63.4% |
| HPC Leasing Segment | 7,353 | 66 | +11040.9% |
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| Beowulf E&D · Services Agreement | 1.4 | 2.5 | -44.0% |
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| Abernathy Joint Venture | 8,244 | — | — |
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| Nonrelated Party | 12,115 | 3,387 | +257.7% |
| Related Party | 7,632 | 4,262 | +79.1% |
| Selling, General & Administrative (FY) | — | — | — |
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| Beowulf E&D · Performance Milestone | 2.4 | — | — |
| Beowulf E&D · Services Agreement | 7.4 | 12.7 | -41.7% |
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| Beowulf E&D · Nonrelated Party | 7 | — | — |
| Beowulf E&D · Related Party | 0.8 | — | — |
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| Performance Milestone · Related Party | 2.4 | 0 | — |
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| Nonrelated Party | 139,465 | 57,883 | +140.9% |
| Related Party | 8,292 | 12,695 | -34.7% |
| Depreciation (FY) | — | — | — |
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| Depreciation | 88,597 | 59,808 | +48.1% |
| Crypto Asset Unrealized Gain Loss Operating (FY) | — | — | — |
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| Crypto Asset Unrealized Gain Loss Operating | 612 | -2,200 | +127.8% |
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| Digital Asset | 612 | -2,200 | +127.8% |
| Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Liability1 (FY) | — | — | — |
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| Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Liability1 | 10,397 | — | — |
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| Beowulf E&D · CB-1 Earnout Milestone | 10.4 | — | — |
| Beowulf E&D · CB-3 Earnout Milestone | 10.4 | — | — |
| Gain Loss On Sale Of Property Plant Equipment (FY) | — | — | — |
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| Gain Loss On Sale Of Property Plant Equipment | 4,895 | 17,824 | -72.5% |
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| Miners | 4.9 | — | — |
| Total Costs & Expenses (FY) | — | — | — |
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| Total Costs & Expenses | 354,668 | 216,267 | +64.0% |
| Operating Income (FY) | — | — | — |
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| Operating Income | -186,213 | -76,216 | -144.3% |
| Interest Expense (FY) | — | — | — |
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| Interest Expense | -80,248 | -19,794 | -305.4% |
| Change In Fair Value Of Warrant And Derivative Liabilities (FY) | — | — | — |
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| Change In Fair Value Of Warrant And Derivative Liabilities | -429,793 | — | — |
| Other Nonoperating Income (FY) | — | — | — |
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| Other Nonoperating Income | 39,044 | 3,927 | +894.2% |
| Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments (FY) | — | — | — |
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| Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments | -657,210 | -98,383 | -568.0% |
| Income Tax Expense (Benefit) (FY) | — | — | — |
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| Income Tax Expense (Benefit) | -76 | — | — |
| Income Loss From Equity Method Investments (FY) | — | — | — |
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| Income Loss From Equity Method Investments | -4,130 | 3,363 | -222.8% |
| Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest (FY) | — | — | — |
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| Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest | -661,416 | -72,418 | -813.3% |
| Net Income (FY) | — | — | — |
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| Retained Earnings | -661,416 | -72,418 | -813.3% |
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| Net Income | -661,416 | -72,418 | -813.3% |
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| Abernathy Joint Venture | 8,244 | — | — |
| Income Loss From Continuing Operations Per Basic Share (FY) | — | — | — |
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| Income Loss From Continuing Operations Per Basic Share | -1.66 | -0.21 | -690.5% |
| Income Loss From Continuing Operations Per Diluted Share (FY) | — | — | — |
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| Income Loss From Continuing Operations Per Diluted Share | -1.66 | -0.21 | -690.5% |
| EPS (Basic) (FY) | — | — | — |
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| EPS (Basic) | -1.66 | -0.21 | -690.5% |
| EPS (Diluted) (FY) | — | — | — |
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| EPS (Diluted) | -1.66 | -0.21 | -690.5% |
| Wtd Avg Shares (Basic) (FY) | — | — | — |
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| Wtd Avg Shares (Basic) | 397,608,216 | 351,315,476 | +13.2% |
| Wtd Avg Shares (Diluted) (FY) | — | — | — |
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| Wtd Avg Shares (Diluted) | 397,608,216 | 351,315,476 | +13.2% |
| Gross Profit (FY) | — | — | — |
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| Digital Asset Mining Segment | 58,963 | 69,860 | -15.6% |
| HPC Leasing Segment | 7,082 | -66 | +10830.3% |
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| Gross Profit | 66,045 | 69,794 | -5.4% |
| Income Before Taxes (FY) | — | — | — |
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| Income Before Taxes | -661,340 | -72,417 | -813.2% |
Balance Sheet
| Metric | FY 2025 | FY 2024 | YoY |
|---|---|---|---|
| Current Assets | |||
| Cash & Cash Equivalents (Q) | — | — | — |
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| Cash & Cash Equivalents | 3,266,389 | 274,065 | +1091.8% |
| Restricted Cash Current (Q) | — | — | — |
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| Restricted Cash Current | 189,933 | — | — |
| Accounts Receivable (Q) | — | — | — |
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| Accounts Receivable | 1,212 | 475 | +155.2% |
| Crypto Asset Fair Value Current (Q) | — | — | — |
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| Crypto Asset Fair Value Current | 270 | 476 | -43.3% |
| Prepaid Expense Current (Q) | — | — | — |
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| Prepaid Expense Current | 6,272 | 2,493 | +151.6% |
| Accounts And Other Receivables Net Current (Q) | — | — | — |
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| Accounts And Other Receivables Net Current | 3,395 | 3,799 | -10.6% |
| Other Assets Current (Q) | — | — | — |
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| Other Assets Current | 10,802 | 123 | +8682.1% |
| Total Current Assets (Q) | — | — | — |
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| Total Current Assets | 3,478,273 | 281,431 | +1135.9% |
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| Abernathy Joint Venture | 1,408,962 | — | — |
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| Property, Plant & Equipment (Q) | — | — | — |
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| Property, Plant & Equipment | 1,507,699 | 411,869 | +266.1% |
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| Beowulf E&D · Related Party | 5.7 | 0.8 | +612.5% |
| Goodwill (Q) | — | — | — |
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| Digital Asset Mining Segment | 2.1 | — | — |
| HPC Leasing Segment | 53.4 | — | — |
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| Goodwill | 55,457 | — | — |
| Operating Lease Right-of-Use Assets (Q) | — | — | — |
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| Operating Lease Right-of-Use Assets | 103,975 | 85,898 | +21.0% |
| Restricted Cash Noncurrent (Q) | — | — | — |
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| Restricted Cash Noncurrent | 266,453 | — | — |
| Other Non-Current Assets (Q) | — | — | — |
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| Other Non-Current Assets | 8,091 | 1,028 | +687.1% |
| Total Assets (Q) | — | — | — |
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| Total Assets | 6,558,182 | 787,511 | +732.8% |
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| Abernathy Joint Venture | 2,635,344 | — | — |
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| Equity Method Investments (Q) | — | — | — |
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| Equity Method Investments | 446,008 | — | — |
| Finance Lease Right Of Use Asset (Q) | — | — | — |
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| Finance Lease Right Of Use Asset | 119,338 | 7,285 | +1538.1% |
| Deferred Costs (Q) | — | — | — |
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| Deferred Costs | 572,888 | — | — |
| Current Liabilities | |||
| Accounts Payable (Q) | — | — | — |
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| Accounts Payable | 65,139 | 24,382 | +167.2% |
| Current Accrued Construction Liabilities (Q) | — | — | — |
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| Current Accrued Construction Liabilities | 102,582 | 16,520 | +521.0% |
| Accrued Employee Benefits Current (Q) | — | — | — |
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| Accrued Employee Benefits Current | 1,717 | 4,552 | -62.3% |
| Interest Payable Current (Q) | — | — | — |
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| Interest Payable Current | 52,775 | 2,559 | +1962.3% |
| Accrued Lessor Costs Current (Q) | — | — | — |
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| Accrued Lessor Costs Current | 27,625 | — | — |
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| HPC Lease | 27.6 | — | — |
| Other Accrued Liabilities Current (Q) | — | — | — |
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| Other Accrued Liabilities Current | 44,828 | 2,414 | +1757.0% |
| Other Liabilities Current (Q) | — | — | — |
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| Other Liabilities Current | 200 | 1,391 | -85.6% |
| Deferred Rent Credit Current (Q) | — | — | — |
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| Deferred Rent Credit Current | 58,184 | — | — |
| Operating Lease Liability Current (Q) | — | — | — |
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| Operating Lease Liability Current | 2,015 | 25 | +7960.0% |
| Finance Lease Liability Current (Q) | — | — | — |
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| Finance Lease Liability Current | 2 | 2 | 0.0% |
| Warrant Liability Current (Q) | — | — | — |
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| Warrant Liability Current | 844,698 | — | — |
| Other Long Term Debt Current (Q) | — | — | — |
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| Other Long Term Debt Current | 46,316 | — | — |
| Convertible Debt Current (Q) | — | — | — |
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| Convertible Debt Current | 489,767 | — | — |
| Total Current Liabilities (Q) | — | — | — |
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| Total Current Liabilities | 1,735,848 | 51,845 | +3248.1% |
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| Abernathy Joint Venture | 63,249 | — | — |
| Current Portion of Long-Term Debt (Q) | — | — | — |
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| Current Portion of Long-Term Debt | 46,316 | — | — |
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| Deferred Rent Credit Noncurrent (Q) | — | — | — |
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| Deferred Rent Credit Noncurrent | 23,285 | — | — |
| Operating Lease Liabilities (Q) | — | — | — |
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| Operating Lease Liabilities | 22,309 | 3,427 | +551.0% |
| Finance Lease Liability Noncurrent (Q) | — | — | — |
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| Finance Lease Liability Noncurrent | 289 | 292 | -1.0% |
| Other Long Term Debt Noncurrent (Q) | — | — | — |
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| Other Long Term Debt Noncurrent | 3,052,240 | — | — |
| Convertible Debt Noncurrent (Q) | — | — | — |
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| Convertible Debt Noncurrent | 1,582,788 | 487,502 | +224.7% |
| Deferred Tax Liabilities (Q) | — | — | — |
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| Deferred Tax Liabilities | 76 | — | — |
| Other Non-Current Liabilities (Q) | — | — | — |
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| Other Non-Current Liabilities | 902 | — | — |
| Total Liabilities (Q) | — | — | — |
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| Total Liabilities | 6,417,737 | 543,066 | +1081.8% |
| Long-Term Debt (Q) | — | — | — |
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| Long-Term Debt | 3,098,556 | — | — |
| Long-Term Debt (Q) | — | — | — |
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| Long-Term Debt | 3,052,240 | — | — |
| Stockholders' Equity | |||
| Common Stock (Q) | — | — | — |
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| Common Stock | 444 | 404 | +9.9% |
| Additional Paid-In Capital (Q) | — | — | — |
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| Additional Paid-In Capital | 1,285,202 | 685,261 | +87.5% |
| Treasury Stock Common Value (Q) | — | — | — |
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| Treasury Stock Common Value | -151,509 | -118,217 | -28.2% |
| Retained Earnings (Q) | — | — | — |
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| Retained Earnings | -993,692 | -332,276 | -199.1% |
| Total Stockholders' Equity (Q) | — | — | — |
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| Additional Paid In Capital | 1,285,202 | 685,261 | +87.5% |
| Common Stock | 444 | 404 | +9.9% |
| Retained Earnings | -993,692 | -332,276 | -199.1% |
| Treasury Stock Common | -151,509 | -118,217 | -28.2% |
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| Total Stockholders' Equity | 140,445 | 244,445 | -42.5% |
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| Abernathy Joint Venture | 889,960 | — | — |
| Total Liabilities & Equity (Q) | — | — | — |
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| Total Liabilities & Equity | 6,558,182 | 787,511 | +732.8% |
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| Abernathy Joint Venture | 2,635,344 | — | — |
Cash Flow Statement
| Metric | FY 2025 | FY 2024 | YoY |
|---|---|---|---|
| Operating Activities | |||
| Net Income (FY) | — | — | — |
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| Net Income | -661,416 | -72,418 | -813.3% |
| Amortization Of Debt Issuance Costs Commitment Fees And Accretion Of Debt Discount (FY) | — | — | — |
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| Amortization Of Debt Issuance Costs Commitment Fees And Accretion Of Debt Discount | 22,181 | 11,382 | +94.9% |
| Related Party Expense To Be Settled With Respect To Common Stock (FY) | — | — | — |
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| Related Party Expense To Be Settled With Respect To Common Stock | 2,375 | — | — |
| Stock-Based Compensation (FY) | — | — | — |
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| Stock-Based Compensation | 50,909 | 30,927 | +64.6% |
| Operating Lease Right Of Use Asset Amortization Expense (FY) | — | — | — |
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| Operating Lease Right Of Use Asset Amortization Expense | 4,456 | 1,373 | +224.5% |
| Revenue Recognized From Digital Currency Mined And Hosting Services (FY) | — | — | — |
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| Revenue Recognized From Digital Currency Mined And Hosting Services | -151,556 | -139,278 | -8.8% |
| Deferred Income Taxes (FY) | — | — | — |
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| Deferred Income Taxes | 76 | — | — |
| Change in Accounts Receivable (FY) | — | — | — |
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| Change in Accounts Receivable | -914 | — | — |
| Increase Decrease In Prepaid Expense (FY) | — | — | — |
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| Increase Decrease In Prepaid Expense | -6,592 | 2,047 | -422.0% |
| Increase Decrease In Other Receivables (FY) | — | — | — |
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| Increase Decrease In Other Receivables | 459 | -2,774 | +116.5% |
| Increase Decrease In Other Current Assets (FY) | — | — | — |
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| Increase Decrease In Other Current Assets | -10,672 | 288 | -3805.6% |
| Increase Decrease In Deferred Charges (FY) | — | — | — |
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| Increase Decrease In Deferred Charges | -57,407 | — | — |
| Increase Decrease In Other Noncurrent Assets (FY) | — | — | — |
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| Increase Decrease In Other Noncurrent Assets | -832 | -466 | -78.5% |
| Increase Decrease In Accounts Payable Trade (FY) | — | — | — |
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| Increase Decrease In Accounts Payable Trade | -3,238 | 740 | -537.6% |
| Increase Decrease In Accrued Lessor Costs (FY) | — | — | — |
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| Increase Decrease In Accrued Lessor Costs | 27,625 | — | — |
| Increase Decrease In Other Accrued Liabilities (FY) | — | — | — |
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| Increase Decrease In Other Accrued Liabilities | 43,217 | 694 | +6127.2% |
| Increase Decrease In Due To Related Parties Current (FY) | — | — | — |
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| Increase Decrease In Due To Related Parties Current | -565 | 480 | -217.7% |
| Increase Decrease In Deferred Liabilities (FY) | — | — | — |
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| Increase Decrease In Deferred Liabilities | 81,469 | — | — |
| Increase Decrease In Operating Lease Liability (FY) | — | — | — |
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| Increase Decrease In Operating Lease Liability | -781 | -11,113 | +93.0% |
| Increase Decrease In Other Operating Liabilities (FY) | — | — | — |
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| Increase Decrease In Other Operating Liabilities | -398 | — | — |
| Net Cash Provided By Used In Operating Activities Continuing Operations (FY) | — | — | — |
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| Net Cash Provided By Used In Operating Activities Continuing Operations | -123,180 | -24,422 | -404.4% |
| Net Cash from Operations (FY) | — | — | — |
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| Net Cash from Operations | -123,180 | -24,422 | -404.4% |
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| Payments To Acquire Interest In Joint Venture (FY) | — | — | — |
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| Payments To Acquire Interest In Joint Venture | -450,000 | — | — |
| Capital Expenditures (FY) | — | — | — |
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| Capital Expenditures | -1,060,189 | -267,940 | -295.7% |
| Proceeds From Sale Of Other Property Plant And Equipment (FY) | — | — | — |
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| Proceeds From Sale Of Other Property Plant And Equipment | 11,648 | 23,324 | -50.1% |
| Payments To Acquire Businesses Net Of Cash Acquired (FY) | — | — | — |
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| Payments To Acquire Businesses Net Of Cash Acquired | -21,731 | — | — |
| Proceeds From Disposal Crypto Asset (FY) | — | — | — |
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| Proceeds From Disposal Crypto Asset | 151,327 | 67,371 | +124.6% |
| Net Cash from Investing (FY) | — | — | — |
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| Net Cash from Investing | -1,368,945 | -91,159 | -1401.7% |
| Financing Activities | |||
| Proceeds From Issuance Of Secured Debt (FY) | — | — | — |
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| Proceeds From Issuance Of Secured Debt | 3,132,938 | — | — |
| Finance Lease Principal Payments (FY) | — | — | — |
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| Finance Lease Principal Payments | -9,159 | -941 | -873.3% |
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| Cayuga Lease | -3 | — | — |
| Payment For Settlement Of Preferred Stock Conversion (FY) | — | — | — |
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| Payment For Settlement Of Preferred Stock Conversion | -12 | — | — |
| Proceeds From Issuance Of Warrants (FY) | — | — | — |
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| Proceeds From Issuance Of Warrants | 5,686 | 4,808 | +18.3% |
| Purchase Of Capped Calls (FY) | — | — | — |
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| Purchase Of Capped Calls | -100,600 | -60,000 | -67.7% |
| Share Repurchases (FY) | — | — | — |
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| Share Repurchases | -33,292 | -118,217 | +71.8% |
| Tax Withholding for Share Compensation (FY) | — | — | — |
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| Tax Withholding for Share Compensation | -28,481 | -23,654 | -20.4% |
| Proceeds From Convertible Debt Net Of Issuance Costs (FY) | — | — | — |
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| Proceeds From Convertible Debt Net Of Issuance Costs | 1,973,755 | 487,050 | +305.2% |
| Net Cash from Financing (FY) | — | — | — |
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| Net Cash from Financing | 4,940,835 | 335,207 | +1374.0% |
| Debt Issuance Costs (FY) | — | — | — |
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| Debt Issuance Costs | 67,062 | 0 | — |
| Supplemental | |||
| Interest Paid (FY) | — | — | — |
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| Interest Paid | 13,999 | 6,957 | +101.2% |
| Other Cash Flow | |||
| Net Change in Cash (FY) | — | — | — |
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| Net Change in Cash | 3,448,710 | 219,626 | +1470.3% |
| Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents (Q) | — | — | — |
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| Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents | 3,722,775 | 274,065 | +1258.4% |
Values in thousands USD. Source: SEC EDGAR 10-K filing.