TeraWulf HPC Revenue Surpasses Bitcoin Mining

TeraWulf's high-performance computing (HPC) business has now surpassed its bitcoin mining operations in revenue for the first time. In the first quarter, HPC lease revenue reached $21 million, exceeding digital asset revenue of just under $13 million. This strategic shift reflects a broader trend among former pure-play bitcoin miners diversifying into AI and hyperscaler infrastructure. Despite this revenue milestone, the company reported a significant net loss of $427.6 million, a substantial increase from the previous year, though a portion of this loss is attributed to factors beyond operational mining.