TeraWulf Reports Preliminary Third Quarter 2025 Financial Results

Core Insights - TeraWulf Inc. reported preliminary financial results for Q3 2025, expecting revenue between $48 million and $52 million, marking an approximate 84% increase from $27 million in Q3 2024 [2][4] - The company anticipates adjusted EBITDA of $15 million to $19 million, compared to $6 million in the same quarter of the previous year [2][4] - TeraWulf's strategy focuses on converting its infrastructure into long-duration contracted high-performance computing (HPC) capacity, with over 510 MW of contracted critical IT load secured [3][8] Financial Performance - Expected revenue for Q3 2025 is projected to be between $48 million and $52 million, reflecting an 84% increase from Q3 2024 [2] - Adjusted EBITDA is anticipated to be between $15 million and $19 million, a significant rise from $6 million in Q3 2024 [2] Strategic Initiatives - The company is successfully repositioning Lake Mariner for high-performance compute workloads, which is contributing to its strong operating performance [3] - TeraWulf has secured over 510 MW of contracted critical IT load and aims to contract an additional 250 to 500 MW per year, demonstrating scalability and disciplined capital deployment [3][8] Company Overview - TeraWulf develops and operates environmentally sustainable, industrial-scale data center infrastructure in the U.S., specifically for HPC hosting and bitcoin mining [8]