Terawulf Inc. ( (WULF) ) has released its Q4 earnings. Here is a breakdown of the information Terawulf Inc. presented to its investors.
TeraWulf Inc. is a company that develops, owns, and operates environmentally sustainable, next-generation data center infrastructure in the United States, focusing on bitcoin mining and hosting high-performance computing (HPC) workloads. The company leverages predominantly zero-carbon energy sources, including hydroelectric and nuclear power, to power its operations.
In its latest earnings report, TeraWulf Inc. announced a significant increase in its financial performance for the year 2024, with annual revenue and non-GAAP adjusted EBITDA growing by 102% and 89% year-over-year, respectively. The company also revealed a strategic expansion into AI-driven HPC hosting, which is expected to generate $1 billion in cumulative revenue over the next decade.
Key financial highlights include a revenue increase to $140.1 million, driven by increased bitcoin production and higher bitcoin prices. The company expanded its self-mining capacity by 94% to 9.7 EH/s and strengthened its balance sheet with cash and bitcoin holdings of $275 million. Additionally, TeraWulf proactively repaid legacy term loan debt and authorized a $200 million share repurchase program, executing over $150 million in repurchases.
TeraWulf’s strategic expansion into HPC hosting is marked by long-term data center lease agreements, securing 72.5 MW of hosting capacity at Lake Mariner, with an option to expand by an additional 135 MW. This move is supported by advanced infrastructure upgrades, positioning the company to attract hyperscale and enterprise customers.
Looking ahead, TeraWulf is focused on executing its HPC hosting capacity delivery in 2025, leveraging strong demand for AI-driven compute infrastructure. The company aims to capitalize on its low-cost, zero-carbon energy platform to meet growing market needs, reinforcing its leadership in next-generation digital infrastructure.