What is TeraWulf's market cap?

TeraWulf (WULF) has a market capitalization of $8.9B and trades on NASDAQ.

What is TeraWulf's revenue and profitability?

TeraWulf generated $168.1M in trailing twelve-month revenue with a net loss of $1.0B, representing a net margin of -611.5%. Gross margin stands at 64.0%, with free cash flow of -$1.7B. These figures are based on the Q1 2026 filing.

Who are TeraWulf's competitors?

TeraWulf's key competitors include Equinix, Inc., Digital Realty Trust, Inc., Riot Platforms, Inc., and others. These companies compete in similar markets and product categories.

Who does TeraWulf partner with?

TeraWulf's notable partners include Core42, Fluidstack, Google, and others.

What subsidiaries does TeraWulf have?

TeraWulf's subsidiaries include La Lupa Data LLC, Akela Data LLC, Beowulf Electricity & Data LLC, and others.

Where is TeraWulf headquartered?

TeraWulf is headquartered in United States of America and employs approximately 10 people. It has been publicly traded since 2021.

TeraWulf

WULF

TeraWulf is a vertically integrated owner and operator of large-scale digital infrastructure designed for high-performance computing (HPC) and artificial intelligence workloads.

Market cap

$8.91B+356%

Revenue$168.1M+27.3%

Net income-$1.0B-727%

Free cash flow-$1.7B-452%

EPS (diluted)-$2.48-652%

Trailing twelve months · change vs. prior year

Table of contents

Earnings

Q1 2026 report

May 8, 2026

Revenue$34.0MMiss by $685.4K EPS-$0.44Miss by $0.25

Read the full report

Next report

Aug 5, 2026 (In 1 week)

Revenue estimate$46.0M

EPS estimate-$0.24

Financials

Q1 2026

Income statement

See full

Revenue$34.0M-1.1%

Gross profit$31.7M+221%

Operating income-$162.1M-172%

Net income-$427.6M-596%

EPS (diluted)-$1.01-531%

Balance sheet

See full

Cash & equivalents$3.1B+1,318%

Total debt$3.7B+959%

Total equity-$78.8M-146%

Total assets$7.0B+733%

Cash flow

See full

Operating cash flow-$17.6M-131%

CapEx$523.0M+458%

Free cash flow-$540.5M-1,353%

Valuation & ratios

Valuation

See full

Market cap$8.91B+356%

Enterprise value$9.49B+307%

P/S53×+39.2×

Profitability

See full

Gross margin64%+19.1pp

Operating margin-171.8%+398pp

Net margin-611.5%-747pp

FCF margin-1,003.6%-1,433pp

Returns & leverage

See full

Current ratio1.2×-0.7×

Segments

By segment

See full

Digital Asset Mining Segment$13.0M-62.2%

By product

See full

Crypto Mining$13.0M-62.2%

Competitors

By market cap

Equinix, Inc.$103.24B+33.0%

Digital Realty$72.4B+21.1%

Hut 8 Mining Corp.$11.8B+456%

TeraWulf$8.9B+348%

Cipher Digital, Inc. $8.9B+287%

Riot Platforms, Inc.$8.3B+60.3%

KEE

Keel Infrastructure Corp.$2.4B—

HIVE Digital Technologies$788.9M+60.3%

By revenue growth

Hut 8 Mining Corp.+115%

Riot Platforms, Inc.+42.4%

Cipher Digital, Inc. +38.0%

TeraWulf+27.3%

Digital Realty+22.4%

KEE

Keel Infrastructure Corp.+19.3%

Equinix, Inc.+6.7%

By net margin

Digital Realty24.92%-8.8pp

Equinix, Inc.15.07%+4.4pp

KEE

Keel Infrastructure Corp.-52.05%-109pp

Hut 8 Mining Corp.-109.77%-69.8pp

Riot Platforms, Inc.-132.76%-45.8pp

Cipher Digital, Inc. -427.79%-361pp

TeraWulf-611.46%-517pp

Profile

TeraWulf is a vertically integrated owner and operator of large-scale digital infrastructure designed for high-performance computing (HPC) and artificial intelligence workloads. The company leverages an infrastructure-first approach by controlling utility-scale power resources and land to provide resilient, cost-efficient hosting capacity for hyperscale and enterprise customers. While transitioning from legacy bitcoin mining, its primary growth driver is the development of long-term, credit-enhanced HPC data center leases.

Competitive position

TeraWulf differentiates itself through deep in-house power and grid expertise and a strategy of securing long-term, credit-enhanced contracts with Tier-1 counterparties.

GeographiesUnited States, New York, Texas

Customer segmentsHyperscalers, Enterprise AI developers, Cloud service providers

Business modelInfrastructure-as-a-Service, Long-term leasing, Vertical integration

SuppliersRegional electric grids (NYISO, SPP), Power generation utilities, GPU and server hardware manufacturers, Industrial cooling system providers

CustomersAI cloud platforms, Hyperscale technology companies, Enterprise high-performance computing users

CountryUnited States of America

Listed2021

Employees10.0

CEOPaul Prager

SectorFinancial Services

IndustryFinancial - Capital Markets

Websiteterawulf.com

FilingsSEC EDGAR

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Questions, answered.

What is TeraWulf's market cap?: TeraWulf (WULF) has a market capitalization of $8.9B and trades on NASDAQ.
What is TeraWulf's revenue and profitability?: TeraWulf generated $168.1M in trailing twelve-month revenue with a net loss of $1.0B, representing a net margin of -611.5%. Gross margin stands at 64.0%, with free cash flow of -$1.7B. These figures are based on the Q1 2026 filing.
Who are TeraWulf's competitors?: TeraWulf's key competitors include Equinix, Inc., Digital Realty Trust, Inc., Riot Platforms, Inc., and others. These companies compete in similar markets and product categories.
Who does TeraWulf partner with?: TeraWulf's notable partners include Core42, Fluidstack, Google, and others.
What subsidiaries does TeraWulf have?: TeraWulf's subsidiaries include La Lupa Data LLC, Akela Data LLC, Beowulf Electricity & Data LLC, and others.
Where is TeraWulf headquartered?: TeraWulf is headquartered in United States of America and employs approximately 10 people. It has been publicly traded since 2021.