TERAWULF INC.
For the period ended Sep 30, 2026. Filed Nov 6, 2026.
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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, 2026 · Filed Nov 6, 2026
WULF$12.38+8.9%Stored close · as of Nov 9, 2026
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Consolidated Balance Sheets as of and
CONDENSED CONSOLIDATED BALANCE SHEETS
AS OF SEPTEMBER 30, 2026 AND DECEMBER 31, 2025
(In thousands, except number of shares and par value; unaudited)
| September 30, 2026 | December 31, 2025 | |
|---|---|---|
| ASSETS | ||
| CURRENT ASSETS: | ||
| Cash and cash equivalents | $1,602,127 | $3,266,389 |
| Restricted cash | 486,702 | 189,933 |
| Accounts receivable | 17,000 | 1,212 |
| Digital assets | 1,527 | 270 |
| Prepaid expenses | 20,232 | 6,272 |
| Receivable for sale of equity in net assets of investee | 272,762 | — |
| Other current assets | 26,739 | 14,197 |
| Total current assets | 2,427,089 | 3,478,273 |
| Property, plant and equipment, net | 4,580,681 | 1,507,699 |
| Equity in net assets of investee | — | 446,008 |
| Goodwill | 55,457 | 55,457 |
| Operating lease right-of-use asset | 103,530 | 103,975 |
| Finance lease right-of-use asset | 117,130 | 119,338 |
| Restricted cash | 266,491 | 266,453 |
| Deferred charges | 571,125 | 572,888 |
| Restricted trust investments | 19,434 | — |
| Other assets | 9,765 | 8,091 |
| TOTAL ASSETS | $8,150,702 | $6,558,182 |
| LIABILITIES AND EQUITY | ||
| CURRENT LIABILITIES: | ||
| Accounts payable | $237,710 | $65,139 |
| Accrued construction liabilities | 329,054 | 102,582 |
| Accrued interest | 120,229 | 52,775 |
| Other current liabilities | 121,041 | 74,170 |
| Other amounts due to related parties | 400 | 200 |
| Current portion of deferred rent liability | 34,503 | 58,184 |
| Current portion of operating lease liability | 2,195 | 2,015 |
| Current portion of finance lease liability | 3 | 2 |
| Warrant liabilities | 1,088,248 | 844,698 |
| Current portion of long-term debt | 81,330 | 46,316 |
| Short-term convertible notes | 491,544 | 489,767 |
| Total current liabilities | 2,506,257 | 1,735,848 |
| Deferred rent liability, net of current portion | — | 23,285 |
| Operating lease liability, net of current portion | 23,521 | 22,309 |
| Finance lease liability, net of current portion | 366 | 289 |
| Long-term debt | 3,032,094 | 3,052,240 |
| Convertible notes | 1,627,342 | 1,582,788 |
|---|---|---|
| Deferred tax liabilities | 160 | 76 |
| Other liabilities | 90,414 | 902 |
| TOTAL LIABILITIES | 7,280,154 | 6,417,737 |
| Commitments and Contingencies (See Note 12) | ||
| EQUITY: | ||
| Preferred stock, $0.001 par value, 100,000,000 authorized at September 30, 2026 and December 31, 2025; none issued and outstanding at September 30, 2026 and December 31, 2025; aggregate liquidation preference of $0 at September 30, 2026 and December 31, 2025 | — | — |
| Common stock, $0.001 par value, 950,000,000 authorized at September 30, 2026 and December 31, 2025; 525,340,360 and 444,534,694 issued at September 30, 2026 and December 31, 2025, respectively; 501,371,610 and 420,065,944 outstanding at September 30, 2026 and December 31, 2025, respectively | 525 | 444 |
| Additional paid-in capital | 2,669,797 | 1,285,202 |
| Treasury stock at cost, 23,968,750 and 24,468,750 at September 30, 2026 and December 31, 2025, respectively | (148,309) | (151,509) |
| Accumulated deficit | (1,651,331) | (993,692) |
| Total TeraWulf Inc. stockholders’ equity | 870,682 | 140,445 |
| Noncontrolling interests | (134) | — |
| Total equity | 870,548 | 140,445 |
| TOTAL LIABILITIES AND EQUITY | $8,150,702 | $6,558,182 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.