Bitcoin miner TeraWulf posted a internet lack of $427 million within the first quarter of 2026, widening from a lack of $61.4 million in the identical interval final yr.
Complete income for the quarter was $34 million, of which excessive efficiency computing (HPC) lease income was $21 million, roughly 60% of the overall, and a rise of 117% from the prior quarter. According to for Friday’s announcement. Bitcoin mining income fell 50% to about $13 million.
HPC income was pushed by 60 megawatts of operationally important IT capability leased to Core42 at Lake Mariner, one of many largest HPC campuses in North America. TeraWulf can also be coordinating infrastructure supply with Fluidstack and Google, with extra capability constructing deliberate for supply in 2026. The corporate ended the third quarter with roughly $3.1 billion in money.
“Our capital construction is designed to steadiness long-term financing with dedicated money circulate, supporting disciplined development whereas sustaining monetary flexibility,” stated Patrick Fleury, Chief Monetary Officer.
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TeraWulf accelerates the transition to AI
Final October, TeraWulf announced The 25-year lease settlement with Fluidstack, backed by Google, is valued at roughly $9.5 billion in contract income and is an growth of the earlier 10-year settlement. The corporate can also be constructing a home pipeline of power-friendly websites, together with a newly acquired 480 MW website in Hawesville, Kentucky, a 300 MW challenge in Lansing, New York, and a 210 MW website in Morgantown, Maryland, with the potential to broaden to 1 gigawatt.
“We’re constructing a power-friendly platform that we imagine will grow to be more and more differentiated in a market constrained by entry to energy,” stated CEO Paul Prager, noting that the corporate’s Abernathy three way partnership, a 168MW HPC challenge beneath a 25-year lease, is on observe for supply in This autumn 2026.
Wolf shares closed the day down 2.6%, however are up greater than 105% for the reason that starting of the yr and greater than 30% prior to now month.
Terrawolf inventory is down. sauce: Yahoo! finance
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Riot’s information heart enterprise generates $33 million in income
As reported by Cointelegraph, Riot Platforms recorded income of $167.2 million within the first quarter of 2026, with its newly launched information heart enterprise contributing $33.2 million, offsetting a decline in Bitcoin mining income, which fell to $111.9 million from $142.9 million in the identical interval final yr.
Shrinking revenue margins have led Bitcoin miners to pivot to AI infrastructure, with the trade aiming for extra predictable returns, with Core Scientific, MARA Holdings, Hive, Hut 8, and Iren changing mining services into information facilities or buying AI computing belongings.
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