TeraWulf Reports Q2 Revenue of $44.767 Million, Signs 20-Year Lease with Anthropic

According to a filing with the U.S. Securities and Exchange Commission, TeraWulf has released its Q2 2026 operating results, reporting revenue of $44.767 million for the quarter, with HPC leasing revenue reaching $31.932 million, accounting for approximately 71% of total revenue.

The company's Lake Mariner project in New York has brought 102 megawatts of revenue-generating IT capacity online, with an additional 336 megawatts under construction, maintaining a unit IT capacity cost of $8-10 million per megawatt. TeraWulf has completed the acquisition of the Muskie Data Campus in Kentucky, securing access to up to 1 gigawatt of power capacity. Its Justified campus has reached a lease agreement with Anthropic, covering approximately 401 megawatts with a 20-year term and an initial contract value of approximately $19 billion.

Additionally, the company will transfer its 50.1% stake in the Abernathy joint venture for $530 million in cash, while reaffirming its business target of adding 250-500 megawatts of newly contracted IT capacity annually.