BlockBeats News, February 27th, Nasdaq-listed Bitcoin mining company TeraWulf released its financial report on Thursday, with full-year 2025 revenue reaching $1.685 billion, a year-on-year increase of 20.3%, including $16.9 million from its newly launched HPC leasing business. Despite the revenue growth, the company’s full-year net loss expanded to $661.4 million, with an adjusted EBITDA loss of $23.1 million.
TeraWulf has defined 2025 as a “year of inflection” and has currently signed long-term data center leases covering 522 megawatts of critical IT load, with contracted customer revenue exceeding $12.8 billion and $6.5 billion in financing to support its HPC platform construction. In the fourth quarter, digital asset revenue declined quarter-on-quarter to $26.1 million due to Bitcoin production and price decreases, but HPC leasing revenue increased to $9.7 million.
The company’s strategy is accelerating towards AI and cloud computing customers, with core deployments in the New York Lake Mariner Park and Texas Abernathy HPC Park. Earlier this month, TeraWulf also acquired brownfield infrastructure in Kentucky and Maryland, adding approximately 1.5 GW in capacity.
