Bitcoin mining company TeraWulf expects revenue to grow by 20% in 2025, but its net loss will widen to $661 million as it accelerates its transformation into AI and HPC businesses.

Nasdaq-listed Bitcoin mining company TeraWulf released its 2025 financial report, showing full-year revenue of $168.5 million, a 20.3% year-over-year increase, with $16.9 million coming from its newly launched high-performance computing (HPC) leasing business. However, the company's net loss widened to $661.4 million for the year, compared to $72.4 million in 2024; non-GAAP adjusted EBITDA loss was $23.1 million. In the fourth quarter, affected by declining Bitcoin production and prices, digital asset business revenue decreased to $26.1 million from $43.4 million in the third quarter; during the same period, HPC leasing revenue increased to $9.7 million from $7.2 million. The company stated that 2025 is a key year for its strategic transformation, and it has already signed contracts for 522 megawatts of HPC capacity, with related contract customer revenue exceeding $12.8 billion, and has secured $6.5 billion in financing to support data center expansion. TeraWulf stated that it will continue to advance its AI and computing infrastructure development to achieve more stable long-term cash flow. (The Block)