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How Terawulf (WULF) makes money

Terawulf (WULF) made $76.2M of revenue in the third quarter 2026 (Q3 2026), +51% from a year earlier.

Drawing the Sankey…

Terawulf revenue by quarterTerawulf revenue by quarter$34.4MQ1 2025$47.6MQ2 2025$50.6MQ3 2025$35.8MQ4 2025$34.0MQ1 2026$44.8MQ2 2026$76.2MQ3 2026
Terawulf: where each dollar of revenue goesTerawulf: where each dollar of revenue goesIncome tax0¢

Where each dollar of revenue goes

LineQ3 2026% of revenue
Revenue$76.2M100.0%
Income tax$28K0.0%

Revenue, quarter by quarter

QuarterRevenueY/Y
Q3 2026$76.2M+51%
Q2 2026$44.8M-6%
Q1 2026$34.0M-1%
Q4 2025$35.8M+2%
Q3 2025$50.6M+87%
Q2 2025$47.6M+34%
Q1 2025$34.4M-19%

From Terawulf's 10-Q filed Nov 6, 2026 (on EDGAR).

Questions

How does Terawulf make money?

Terawulf (WULF) made $76.2M of revenue in the third quarter 2026 (Q3 2026), +51% from a year earlier.

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Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.