TeraWulf Inc. (NASDAQ:WULF) shares are rising Friday after reporting $76.2 million of sales in the July-to-September period, ahead of analyst estimates. Here’s what you should know.
- TeraWulf stock is gaining positive traction. Why is WULF stock advancing?
TeraWulf Stock Rises After Third-Quarter Revenue Beat
TeraWulf shares are climbing after the company posted third-quarter results before Friday’s open. Sales reached $76.23 million, topping the $61.79 million analysts projected by a wide margin. High-performance computing leases supplied $63.0 million of that, roughly 83% of the total.
TeraWulf lost 3 cents a share, compared with a 21-cent loss analysts expected. Adjusted EBITDA came in at a loss of about $12.8 million.
Lake Mariner drives most of the revenue. The site has 102 megawatts of computing capacity earning rent, and 336 more megawatts are being built there. TeraWulf says costs are holding within its goal of between $8 million and $10 million for each megawatt.
TeraWulf Advances Anthropic Lease and Financing
Justified, a Kentucky campus, is the bigger prize. Anthropic signed a lease running 20 years there for about 401 megawatts, worth roughly $19 billion over the base term. On Nov. 4, TeraWulf lined up Google credit support for the project’s financing and signed Fluor to construct a trio of data center buildings. The buildings should open in stages between late 2027 and mid-2028.
CEO Paul Prager said Justified “has the customer, credit support and construction framework to move forward at scale.”
At its Muskie campus, TeraWulf doubled contracted power to 1,000 megawatts, though Kentucky regulators must still approve the change. The second 500-megawatt phase now arrives in 2029. TeraWulf also repeated its plan to add 250 to 500 megawatts of contracted capacity every year.
WULF Shares Are Climbing
WULF Price Action: TeraWulf shares were up 0.89% at $10.17 at the time of publication on Friday. The stock is near its 52-week low of $9.51, according to Benzinga Pro.
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