TeraWulf Reports Revenue Growth Amid Expanding Losses in 2025

TeraWulf, a Nasdaq-listed Bitcoin mining company, announced its financial results for 2025, revealing a revenue of $168.5 million, marking a 20.3% increase from the previous year. According to BlockBeats, the growth includes $16.9 million from its newly launched HPC leasing business. Despite the revenue increase, the company reported a net loss of $661.4 million for the year, with an adjusted EBITDA loss of $23.1 million. TeraWulf has labeled 2025 as a 'turning point year,' having secured long-term data center leases covering 522 megawatts of critical IT load. These contracts are expected to generate over $12.8 billion in customer revenue, supported by $6.5 billion in financing for its HPC platform development. In the fourth quarter, the company's digital asset revenue declined to $26.1 million due to decreased Bitcoin production and prices, while HPC leasing revenue rose to $9.7 million. The company's strategy is increasingly focused on AI and cloud computing clients, with key operations centered in the Lake Mariner campus in New York and the Abernathy HPC campus in Texas. Earlier this month, TeraWulf acquired brownfield infrastructure in Kentucky and Maryland, adding approximately 1.5 GW of capacity.