TeraWulf posts higher revenue, wider loss in 2025 as AI, HPC pivot accelerates
TeraWulf reported increased revenue but a larger loss in 2025 due to its strategic shift towards AI and HPC infrastructure.Summary
TeraWulf announced higher revenue of $168.5 million for 2025, a 20.3% increase year-over-year, including $16.9 million from HPC leasing. However, the company also experienced a widened net loss of $661.4 million compared to $72.4 million in 2024, with a non-GAAP adjusted EBITDA loss of $23.1 million. This performance is attributed to the company’s accelerating pivot towards high-performance computing (HPC) and artificial intelligence infrastructure, securing long-term data center lease agreements totaling 522 megawatts and over $12.8 billion in contracted revenue. While bitcoin mining revenue declined in the fourth quarter, HPC lease revenue grew, and TeraWulf continues to expand its capacity through infrastructure acquisitions, mirroring a trend among U.S. miners seeking stable revenue streams from AI.
(Source：The Block)