TERAWULF INC.
For the period ended Jun 30, 2025. Filed Aug 8, 2025.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Jun 30, 2025 · Filed Aug 8, 2025
WULF$12.56+1.5%Stored close · as of Nov 10, 2026
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Consolidated Statements of Operations for the months ended and
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
FOR THE THREE AND SIX MONTHS ENDED JUNE 30, 2025 AND 2024
(In thousands, except number of shares and loss per common share; unaudited)
| Three Months Ended June 30, | Six Months Ended June 30, | |||
|---|---|---|---|---|
| 2025 | 2024 | 2025 | 2024 | |
| Revenue | $47,636 | $35,574 | $82,041 | $78,007 |
| Costs and expenses: | ||||
| Cost of revenue (exclusive of depreciation shown below) | 22,094 | 13,918 | 46,647 | 28,326 |
| Operating expenses | 2,039 | 797 | 3,183 | 1,582 |
| Operating expenses – related party | 1,475 | 875 | 3,223 | 1,763 |
| Selling, general and administrative expenses | 9,996 | 9,113 | 56,569 | 21,402 |
| Selling, general and administrative expenses – related party | 4,292 | 2,803 | 7,863 | 5,423 |
| Depreciation | 18,786 | 14,133 | 34,360 | 29,221 |
| (Gain) loss on fair value of digital currency, net | (887) | 700 | (17) | (629) |
| Change in fair value of contingent consideration | 1,600 | — | 1,600 | — |
| Loss on disposals of property, plant, and equipment | 3,831 | — | 3,831 | — |
| Total costs and expenses | 63,226 | 42,339 | 157,259 | 87,088 |
| Operating loss | (15,590) | (6,765) | (75,218) | (9,081) |
| Interest expense | (4,012) | (5,325) | (8,061) | (16,370) |
| Loss on extinguishment of debt | — | — | — | (2,027) |
| Interest income | 1,232 | 447 | 3,491 | 947 |
| Loss before income tax and equity in net income of investee | (18,370) | (11,643) | (79,788) | (26,531) |
| Income tax benefit | — | — | — | — |
| Equity in net income of investee, net of tax | — | 767 | — | 6,042 |
| Net loss | $(18,370) | $(10,876) | $(79,788) | $(20,489) |
| Loss per common share: | ||||
| Basic and diluted | $(0.05) | $(0.03) | $(0.21) | $(0.07) |
| Weighted average common shares outstanding: | ||||
| Basic and diluted | 386,895,095 | 340,662,826 | 385,032,650 | 315,714,178 |
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