TERAWULF INC.
For the period ended Sep 30, 2025. Filed Nov 10, 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.
Sep 30, 2025 · Filed Nov 10, 2025
WULF$12.38+8.9%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Table of Contents
CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
TABLE OF CONTENTS
| Page | |
|---|---|
| Forward-Looking Statements | 3 |
| PART I — FINANCIAL INFORMATION | |
| ITEM 1. Financial Statements (Unaudited) | |
| Condensed Consolidated Balance Sheets as of September 30, 2025 and December 31, 2024 | 4 |
| Condensed Consolidated Statements of Operations for the three and nine months ended September 30, 2025 and 2024 | 6 |
| Condensed Consolidated Statements of Stockholders’ Equity for the three and nine months ended September 30, 2025 and 2024 | 7 |
| Condensed Consolidated Statements of Cash Flows for the nine months ended September 30, 2025 and 2024 | 10 |
| Notes to Condensed Consolidated Financial Statements | 12 |
| ITEM 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations | 45 |
| ITEM 3. Quantitative and Qualitative Disclosures About Market Risk | 61 |
| ITEM 4. Controls and Procedures | 61 |
| PART II — OTHER INFORMATION | |
| ITEM 1. Legal Proceedings | 62 |
| ITEM 1A. Risk Factors | 62 |
| ITEM 2. Unregistered Sales of Equity Securities and Use of Proceeds. | 62 |
| ITEM 3. Defaults Upon Senior Securities. | 62 |
| ITEM 4. Mine Safety Disclosures. | 62 |
| ITEM 5. Other Information. | 63 |
| ITEM 6. Exhibits | 65 |
| SIGNATURES | 68 |
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