Bitcoin Miner TeraWulf Reports 20% Revenue Growth in 2025, Net Loss Widens to $661 Million, Accelerates Transition to AI and HPC Business

Odaily News: Nasdaq-listed Bitcoin miner TeraWulf released its 2025 financial report. Full-year revenue reached $168.5 million, a year-on-year increase of 20.3%, of which $16.9 million came from the newly launched High-Performance Computing (HPC) leasing business. However, the company's full-year net loss widened to $661.4 million, compared to $72.4 million in 2024; non-GAAP adjusted EBITDA loss was $23.1 million.

In the fourth quarter, affected by the decline in Bitcoin production and price, digital asset business revenue dropped from $43.4 million in Q3 to $26.1 million; during the same period, HPC leasing revenue increased from $7.2 million to $9.7 million.

The company stated that 2025 was a key node for strategic transformation. It has currently signed 522 megawatts of HPC capacity, with total related contract customer revenue exceeding $12.8 billion, and has secured $6.5 billion in financing to support data center expansion. TeraWulf said it will continue to advance its AI and computing power infrastructure layout in the future to achieve more stable long-term cash flow. (The Block)