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Profile & Fundamentals

TeraWulf Profile & Fundamentals

Name: TeraWulf financial chart data preview
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Examine company identity, ownership, reported performance, valuation, balance-sheet resilience, dividends, buybacks, and material corporate events.

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Company and Market Context

Company Profile & Ownership

TeraWulf Inc., together with its subsidiaries, owns, develops, operates digital infrastructure in the United States. It also develops and operates bitcoin mining facilities for bitcoin mining and high-performance computing workloads, leveraging clean, cost-effective, and reliable energy. The company was founded in 2021 and is headquartered in Easton, Maryland.

Company profile record

Terawulf Inc

Common Stock · Financials · Asset Management & Custody Banks

Official website

Company

Company / asset: Terawulf Inc
Security type: Common Stock
Sector: Financials
Industry: Asset Management & Custody Banks
HQ: 🇺🇸 United States
Head office: 9 Federal Street, Easton, MD, United States, 21601

Leadership & scale

Chief executive: Mr. Paul B. Prager
CEO year born: 1960
Full-time employees: 141
Fiscal year end: December
IPO date: 1996-05-30

Fundamentals snapshot

Updated 2026-09-13

Market Cap: USD 8.3B
P/E: --
Revenue (Q2 26): USD 44.8M
Profit (Q2 26): USD -939.9M
Dividend Yield: --
Revenue (FY 25): USD 168.5M
Shares in public float: 384.1M
Insider ownership: 22.88%

Reporting & identifiers

Symbol: WULF.NASDAQ
Listing: 🇺🇸 United States | Dividend Tax: 30%
Ticker Currency: USD
Income Statement Currency: USD
Balance Sheet Currency: USD
Cash Flow Currency: USD
EPS Currency: USD
Contract Type: SPOT
ISIN: US88080T1043
Asset ID: equity_1fc2e21a-fc19-5705-bd95-b46201595d36

Ownership

Shares Outstanding

Shares outstanding

Annual reported shares outstanding. Values in shares.

Top holders

BlackRock Inc28,142,025 shares · 5.64% · Reported 2026-03-31
Lone Pine Capital LLC24,144,625 shares · 4.84% · Reported 2026-06-30
Vanguard Portfolio Management, LLC22,462,422 shares · 4.50% · Reported 2026-03-31
Vanguard Capital Management, LLC15,627,257 shares · 3.13% · Reported 2026-03-31
Vanguard MStar Total Stk Mkt Idx Invest12,626,526 shares · 2.53% · Reported 2026-07-31
Marshall Wace Asset Management Ltd9,374,298 shares · 1.88% · Reported 2026-03-31
Vanguard Small Cap Index9,115,197 shares · 1.83% · Reported 2026-07-31

View more holders (8)

Geode Capital Management, LLC8,523,976 shares · 1.71% · Reported 2026-03-31
Value Aligned Research Advisors LLC7,848,232 shares · 1.57% · Reported 2026-03-31
Two Sigma Investments LLC7,837,097 shares · 1.57% · Reported 2026-03-31
SCOGGIN LLC7,825,000 shares · 1.57% · Reported 2026-06-30
State Street Corp7,613,660 shares · 1.53% · Reported 2026-03-31
Vanguard Information Technology ETF6,137,854 shares · 1.23% · Reported 2026-07-31
Driehaus Capital Management LLC6,063,000 shares · 1.22% · Reported 2026-03-31
Morgan Stanley - Brokerage Accounts5,929,982 shares · 1.19% · Reported 2026-03-31

Earnings, Profitability & Valuation

Earnings & Revenue

AI Review

The company is experiencing a dramatic split between its sales growth and its actual profits. On the positive side, revenues are growing quickly as the company shifts from Bitcoin mining to leasing out space for high-tech AI data centers. However, the bottom line is deeply in the red, with massive net losses and heavy cash spending. Most experts agree that sales will continue to climb as new data centers open, but they disagree on when the company will actually become profitable. Some believe that high interest payments on their massive debt will keep profits depressed for years, while others think that lucrative AI contracts will quickly turn the business into a cash-printing machine. For everyday investors, this means the company's financial health remains highly risky and dependent on flawless execution.

Revenue, Net Income, and Free Cash Flow

Revenue
Free cash flow
Net income

Annual reported financial results, converted using the statement's recorded USD conversion. Missing values are omitted. Values in USD.

Valuation

Historical P/E Ratio

The published data is insufficient to draw this chart.

Profitability & Margins

AI Review

While the company's basic profit margins on energy and leasing are structurally healthy, its overall operating and net margins are deeply negative. This is because the massive costs of building new facilities, including depreciation and interest expenses, are completely overwhelming current revenues. There is consensus that margins will structurally improve once the new AI data centers are fully operational and generating steady rent. However, there is a sharp clash over the current valuation. The stock trades at an incredibly high price-to-sales multiple, which assumes software-level profitability. Analysts disagree on whether the company can ever achieve the high margins necessary to justify this price, with skeptics warning of a painful drop in the stock price as the market realizes this is a capital-heavy utility business rather than a high-margin tech company.

Profitability Margins

Gross margin
Operating margin
Net margin
Free cash flow margin

Annual gross, operating, net income and free cash flow divided by revenue for matching reporting dates. Values in percent.

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Reported Data Tables — chart preview

The following tables contain the same values as the financial charts above. Monetary values are USD; margins are percentages. Missing inputs are not estimated. Use is subject to the iPulse AI Terms of Service and applicable source rights.

Source: eodhd. Statement snapshots with chart transformations and ratios calculated by iPulse AI. Snapshot retrieved 2026-09-15.

Annual earnings and profitability
Period end	Revenue	Free cash flow	Net income	Gross margin	Operating margin	Net margin	Free cash flow margin
2016-12-31	17,569,901	-1,174,625	-65,061	35.5	-0.13	-0.37	-6.69
2017-12-31	17,243,244	-64,377	-226,147	33.23	-2.69	-1.31	-0.37
2018-12-31	18,213,653	631,650	139,465	34.34	1.24	0.77	3.47
2019-12-31	17,618,559	-975,049	-813,558	30.63	-5.43	-4.62	-5.53
2020-12-31	13,432,220	-563,654	-439,320	29.07	-13.3	-3.27	-4.2
2021-12-31	12,744,208	-133,171,000	-95,683,000	-0.41	-340.54	-750.8	-1,044.95
2022-12-31	15,033,000	-106,923,000	-90,791,000	26.28	-290.99	-603.94	-711.26
2023-12-31	69,229,000	-70,905,000	-73,421,000	60.54	-42.5	-106.06	-102.42
2024-12-31	140,051,000	-292,362,000	-72,418,000	55.3	-54.42	-51.71	-208.75
2025-12-31	168,455,000	-1,183,369,000	-661,416,000	50.93	-101.1	-392.64	-702.48

Shares outstanding — chart values
Reporting date	Shares outstanding
2017-01-01	2,007,600
2018-01-01	1,983,600
2019-01-01	1,980,300
2020-01-01	1,976,400
2021-01-01	99,976,300
2022-01-01	131,335,600
2023-01-01	276,733,300
2024-01-01	385,654,300
2025-01-01	397,608,200
2026-01-01	485,734,900

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