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TeraWulf WULF HPC Leasing Segment — Operating Expenses

Other segment segments

Digital Asset Mining Segment
$4.97M+41.3%

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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
HPC Leasing Segment
HPC lease revenue$31,932$52,954
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

Item 1. Financial Statements

FAQ

What is TeraWulf's HPC leasing segment — operating expenses?
TeraWulf (WULF) reported HPC leasing segment — operating expenses of $18.47M in Q2 2026.
What does HPC leasing segment — operating expenses mean?
The indirect costs associated with managing the HPC leasing segment, including administrative overhead, sales and marketing efforts, and general management costs. These expenses support the segment's business development and corporate functions rather than direct facility operations.

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