CORRECTED-Data center firm TeraWulf's Q2 revenue beats expectations

Overview

• TeraWulf Q2 2025 revenue rises 34% yr/yr, beating analyst expectations

• Adjusted EBITDA for Q2 beats consensus, highlighting operational efficiency

• BTC mining capacity grew 45.5% yr/yr, reflecting strategic expansion

Outlook

• TeraWulf targets 200-250 MW operational by year-end 2026

• Company to begin recognizing HPC hosting revenue in Q3 2025

• TeraWulf secures approval to draw 500 MW from grid

• Company expects to deliver 72.5 MW HPC infrastructure to Core42 in 2025

Result Drivers

• BTC MINING CAPACITY - Increased 45.5% yr/yr to 12.8 EH/s, driving revenue growth

• COST INCREASE - Cost of revenue rose 59% due to greater infrastructure utilization and higher power costs

• SELF-MINED BITCOIN - Decreased to 485 from 699 yr/yr, impacted by April 2024 halving and increased network difficulty

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 10 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the blockchain & cryptocurrency peer group is "buy"

• Wall Street's median 12-month price target for Terawulf Inc is $7.00, about 29.4% above its August 7 closing price of $4.94

Press Release: ID:nGNX8KZGQv