TERAWULF INC.
Financial highlights
| Metric | FY 12/31/25 | FY 12/31/24 | FY 12/31/23 | FY 12/31/22 | FY 12/31/21 |
|---|---|---|---|---|---|
| Income Statement | |||||
| Revenue | $168.5M | $140.1M | $69.2M | $15.0M | — |
| Selling, general & administrative | — | — | — | $22.8M | $23.8M |
| Operating expenses | — | — | $71.3M | $47.7M | $43.4M |
| Operating income | -$186.2M | -$76.2M | -$29.4M | -$43.7M | -$43.4M |
| Interest expense | $80.2M | $19.8M | $34.8M | $24.7M | $2.3M |
| Pretax income | -$657.2M | -$98.4M | -$64.0M | -$70.5M | -$45.7M |
| Income tax expense | $76,000 | $0 | $0 | -$256,000 | -$615,000 |
| Net income | -$661.4M | -$72.4M | -$73.4M | -$90.8M | -$95.7M |
| Balance Sheet | |||||
| Cash and equivalents | $3.3B | $274.1M | $54.4M | $1.3M | $43.4M |
| Current assets | $3.5B | $281.4M | $62.6M | $14.1M | $68.1M |
| Total assets | $6.6B | $787.5M | $378.1M | $317.7M | $264.9M |
| Current liabilities | $1.7B | $51.8M | $154.7M | $126.0M | $45.9M |
| Total liabilities | $6.4B | $543.1M | $155.6M | $199.9M | $141.7M |
| Total debt | — | — | $139.5M | $146.0M | $123.5M |
| Stockholders' equity | $140.4M | $244.4M | $222.5M | $117.8M | $123.2M |
| Cash Flow Statement | |||||
| Cash from operations | -$123.2M | -$24.4M | $4.3M | -$34.1M | -$24.1M |
| Depreciation and amortization | $88.6M | $59.8M | $28.4M | $6.7M | — |
| Stock-based compensation | $50.9M | $30.9M | $5.9M | $1.6M | $1.6M |
| Capital expenditure | $1.1B | $267.9M | $75.2M | $61.1M | $109.1M |
| Free cash flow | -$1.2B | -$292.4M | -$70.9M | -$95.2M | -$133.2M |
| Share repurchases | $33.3M | $118.2M | $0 | $0 | — |
| Impairments | $0 | $0 | $0 | $4.9M | $48.5M |
Shares outstanding 495.5M · Free float 57.9%
Annual filing data through FY ended December 31, 2025; float as of July 12, 2026.