TeraWulf Reports $35.8M Q4 Revenue Amid Mining Losses

Together, the sites form a multi-year development path capable of supporting 250-500 megawatts (MW) of critical IT capacity annually, allowing TeraWulf to scale with growing AI demand while maintaining disciplined capital deployment and credit-backed contracts, the company said.

“We enter 2026 with 522 critical IT MW of contracted HPC capacity and a gross 2.9-GW multi-regional platform designed for long-term expansion,” CEO Paul Prager said.

Bitcoin mining companies have struggled as the cryptocurrencys price fell from about $125,000 in early October to near $60,000 by February 2026, according to TradingView.

At $67,982 at the time of publication, Bitcoin was trading well below the estimated average cost to mine one coin, $87,310, according to MacroMicro.

The decline has intensified pressure on miners to pivot into AI and HPC, fueling a broader rush into data center operations.