TeraWulf's revenue is projected to increase by 20% to $168.5 million by 2025, but its losses are expected to widen significantly to $661.4 million.

PANews reported on February 27th that, according to The Block , Bitcoin mining company TeraWulf released its 2025 financial report, showing total revenue of $ 168.5 million, a 20.3% year-over-year increase. Approximately $ 16.9 million of this revenue came from its newly launched high-performance computing ( HPC ) leasing business. Non- GAAP adjusted EBITDA showed a loss of $ 23.1 million, while net loss widened to $ 661.4 million from $ 72.4 million in 2024. The company stated that it has signed long-term data center leases covering 522 megawatts of critical IT load, corresponding to over $ 12.8 billion in contract revenue, and secured $ 6.5 billion in financing to support its HPC platform development. Fourth-quarter digital asset revenue decreased to $ 26.1 million due to weaker Bitcoin production and price, while HPC leasing revenue rose to $ 9.7 million.