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TeraWulf WULF Digital Asset Mining Segment — Operating Expenses

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Other financials

Income statement

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Revenue$44.8M-6.0%
Gross profit$32.4M+26.7%
Operating income-$140.5M-801%
Net income-$939.9M-5,017%
EPS (diluted)-$1.94-3,780%

Balance sheet

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Cash & equivalents$3.0B+3,213%
Total debt$23.6M-94.6%
Total equity$147.3M-15.5%
Total assets$8.0B+826%

Cash flow

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Operating cash flow-$136.7M-149%
CapEx$855.6M+613%
Free cash flow-$992.3M-468%

Valuation

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Market cap$8.95B+346%
Enterprise value$5.95B+153%
P/S54.2×+40.3×

Profitability

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Gross margin69.3%+25.4pp
Operating margin-250.4%-719pp
Net margin-1,179.9%-1,288pp
FCF margin-1,515.9%-2,047pp

Returns & leverage

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Return on equity-1,212.1%-1,263pp
Debt / equity0.2×-2.4×
Current ratio0.7×+0.1×

Where this comes from

Reported directly by TeraWulf in its filing.

Tagged under the XBRL concept us-gaap:OperatingCostsAndExpenses.

The source filing: TeraWulf’s 10-Q, filed August 5, 2026.

Filed
Aug 5, 2026, 4:31 PM EDT
Fiscal quarter
Q2 FY2026
Calendar quarter
Q2 2026
Accession
0001083301-26-000166
Line itemThree Months Ended June 30, 2026Three Months Ended June 30, 2025Six Months Ended June 30, 2026Six Months Ended June 30, 2025
Cost of revenue (exclusive of depreciation)4,4526,903
Operating expenses (including related party)18,47326,805
HPC leasing segment profit$9,007$19,246
Digital Asset Mining Segment
Digital asset mining revenue$12,835$47,636$25,825$82,041
Cost of revenue (exclusive of depreciation)7,94822,0947,85846,647
Operating expenses (including related party)4,9653,5147,8356,406
Digital asset mining segment (loss) profit$(78)$22,028$10,132$28,988

Item 1. Financial Statements

FAQ

What is TeraWulf's digital asset mining segment — operating expenses?
TeraWulf (WULF) reported digital asset mining segment — operating expenses of $4.97M in Q2 2026.
How has TeraWulf's digital asset mining segment — operating expenses changed year-over-year?
TeraWulf's digital asset mining segment — operating expenses increased by 41.3% year-over-year, from $3.51M to $4.97M.
What does digital asset mining segment — operating expenses mean?
These are the overhead costs required to support the digital asset mining segment, including administrative support, segment-specific management, and other non-direct operational costs. Unlike cost of revenue, these expenses are generally fixed or semi-fixed and do not scale directly with the volume of digital assets mined. They represent the corporate burden of maintaining the segment's infrastructure.

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