TeraWulf reported Q2 2026 revenue of $44.767 million, with HPC leasing contributing $31.932 million, or roughly 71% of total revenue. The company has 102 MW of revenue-generating IT capacity live at its Lake Mariner site in New York, with 336 MW under construction. It closed the acquisition of Kentucky's Muskie Data Campus, securing up to 1 GW of power, and signed a 20-year lease with Anthropic for about 401 MW at its Justified campus, with an initial contract value of roughly $19 billion. TeraWulf also agreed to sell its 50.1% stake in the Abernathy JV for $530 million in cash and reaffirmed its annual target of 250-500 MW of newly contracted IT capacity.
TeraWulf reported $44.767 million in revenue for the second quarter of 2026, according to a filing with the U.S. Securities and Exchange Commission. HPC leasing brought in $31.932 million, accounting for roughly 71% of total revenue.
New York Buildout Progresses
At the company's Lake Mariner project in New York, 102 MW of revenue-generating IT capacity is now live, with another 336 MW under construction. Unit IT capacity costs remain in the range of $8 million to $10 million per megawatt.
Muskie Data Campus Acquisition and Anthropic Lease
TeraWulf closed its acquisition of the Muskie Data Campus in Kentucky, gaining access to up to 1 GW of power. At its Justified campus, the company has signed a lease with Anthropic covering roughly 401 MW over a 20-year term, with an initial contract value of about $19 billion.
Abernathy Stake Sale and Full-Year Target
TeraWulf also agreed to sell its 50.1% interest in the Abernathy joint venture for $530 million in cash. The company reaffirmed its goal of signing 250 to 500 MW of new IT capacity on an annual basis.
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