TeraWulf Reports $168.5 Million in 2025 Revenue, Net Loss Widens to $661.4 Million

Bitcoin miner TeraWulf has announced its full-year 2025 financial results, reporting total revenue of $168.5 million, a 20.3% increase year-over-year. The company's High-Performance Computing (HPC) leasing business contributed $16.9 million to this revenue.

However, TeraWulf's net loss expanded significantly to $661.4 million, a stark contrast to the $72.4 million net loss recorded in 2024. The company's non-GAAP adjusted EBITDA also showed a loss of $23.1 million.

In the fourth quarter of 2025, digital asset revenue stood at $26.1 million, a sequential decrease from the $43.4 million reported in the third quarter. This decline was attributed to lower Bitcoin production and reduced Bitcoin prices. The HPC leasing segment, conversely, saw revenue grow to $9.7 million in the fourth quarter, up from $7.2 million in the prior quarter. (The Block)

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