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$12.56+1.5%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Statements of Equity for the months ended and
CONDENSED CONSOLIDATED STATEMENTS OF EQUITY
FOR THE THREE AND NINE MONTHS ENDED SEPTEMBER 30, 2026 AND 2025
(In thousands, except number of shares; unaudited)
| Common Stock · Additional Paid-in Capital · Treasury Stock · Accumulated Deficit · Total TeraWulf Inc. Stockholders’ Equity · Noncontrolling Interests · Total | ||||||||
|---|---|---|---|---|---|---|---|---|
| Number · Amount | ||||||||
| Balances as of June 30, 2026 | 522,901,181 | $523 | $2,656,313 | $(148,309) | $(2,361,243) | $147,284 | $244 | $147,528 |
| Stock-based compensation expense and issuance of stock | 3,375,972 | 2 | 30,017 | — | — | 30,019 | — | 30,019 |
| Tax withholdings related to net share settlements of stock-based compensation awards | (936,793) | — | (16,533) | — | — | (16,533) | — | (16,533) |
| Net income (loss) | — | — | — | — | 709,912 | 709,912 | (378) | 709,534 |
| Balances as of September 30, 2026 | 525,340,360 | $525 | $2,669,797 | $(148,309) | $(1,651,331) | $870,682 | $(134) | $870,548 |
| Common Stock · Additional Paid-in Capital · Treasury Stock · Accumulated Deficit · Total TeraWulf Inc. Stockholders’ Equity · Noncontrolling Interests · Total | ||||||||
|---|---|---|---|---|---|---|---|---|
| Number · Amount | ||||||||
| Balances as of December 31, 2025 | 444,534,694 | $444 | $1,285,202 | $(151,509) | $(993,692) | $140,445 | $— | $140,445 |
| Noncontrolling interest issued in asset acquisition | — | — | 99,365 | — | — | 99,365 | 1,223 | 100,588 |
| Warrant exercise | 6,717,784 | 7 | 7,031 | — | — | 7,038 | — | 7,038 |
| Common stock offering, net of issuance costs | 65,385,298 | 65 | 1,199,714 | — | — | 1,199,779 | — | 1,199,779 |
| Stock-based compensation expense and issuance of stock | 15,793,993 | 9 | 215,367 | — | — | 215,376 | — | 215,376 |
| Tax withholdings related to net share settlements of stock-based compensation awards | (7,091,409) | — | (148,072) | — | — | (148,072) | — | (148,072) |
| Re-issuance of treasury stock in connection with charitable contribution | — | — | 11,190 | 3,200 | — | 14,390 | — | 14,390 |
| Net loss | — | — | — | — | (657,639) | (657,639) | (1,357) | (658,996) |
| Balances as of September 30, 2026 | 525,340,360 | $525 | $2,669,797 | $(148,309) | $(1,651,331) | $870,682 | $(134) | $870,548 |
| Preferred Stock · Common Stock · Additional Paid-in Capital · Treasury Stock · Accumulated Deficit · Total | ||||||||
|---|---|---|---|---|---|---|---|---|
| Number · Amount · Number · Amount | ||||||||
| Balances as of June 30, 2025 | 9,566 | $9,273 | 414,599,543 | $415 | $728,217 | $(151,509) | $(412,064) | $174,332 |
| Conversion of preferred stock to common stock | (8) | (8) | — | — | (4) | — | — | (12) |
| Warrant exercise | — | — | 3,453,166 | 3 | 3,126 | — | — | 3,129 |
| Common stock issued as consideration for business acquisition | — | — | 1,795,580 | 2 | 9,048 | — | — | 9,050 |
| Common stock issued for Cayuga Lease to related party | — | — | 18,554,688 | 19 | 110,274 | — | — | 110,293 |
| 2031 Convertible Notes conversion feature | — | — | — | — | 511,191 | — | — | 511,191 |
| Purchase of capped call | — | — | — | — | (100,600) | — | — | (100,600) |
| Stock-based compensation expense and issuance of stock | — | — | 1,806,667 | — | 4,345 | — | — | 4,345 |
| Tax withholdings related to net share settlements of stock-based compensation awards | — | — | (995,400) | — | (9,337) | — | — | (9,337) |
| Net loss | — | — | — | — | — | — | (455,050) | (455,050) |
| Balances as of September 30, 2025 | 9,558 | $9,265 | 439,214,244 | $439 | $1,256,260 | $(151,509) | $(867,114) | $247,341 |
| Preferred Stock · Common Stock · Additional Paid-in Capital · Treasury Stock · Accumulated Deficit · Total | ||||||||
|---|---|---|---|---|---|---|---|---|
| Number · Amount · Number · Amount | ||||||||
| Balances as of December 31, 2024 | 9,566 | $9,273 | 404,223,028 | $404 | $685,261 | $(118,217) | $(332,276) | $244,445 |
| Conversion of preferred stock to common stock | (8) | (8) | — | — | (4) | — | — | $(12) |
| Warrant exercise | — | — | 3,453,166 | 3 | 3,126 | — | — | $3,129 |
| Common stock issued for share based liabilities due to related party | — | — | 798,319 | 1 | 2,374 | — | — | $2,375 |
| Common stock issued as consideration for business acquisition | — | — | 6,795,580 | 7 | 28,593 | — | — | $28,600 |
| Common stock issued for Cayuga Lease to related party | — | — | 18,554,688 | 19 | 110,274 | — | — | $110,293 |
| 2031 Convertible Notes conversion feature | — | — | — | — | 511,191 | — | — | 511,191 |
| Purchase of capped call | — | — | — | — | (100,600) | — | — | (100,600) |
| Treasury stock repurchased | — | — | — | — | — | (33,292) | — | (33,292) |
| Stock-based compensation expense and issuance of stock | — | — | 9,942,826 | 5 | 44,318 | — | — | 44,323 |
| Tax withholdings related to net share settlements of stock-based compensation awards | — | — | (4,553,363) | — | (28,273) | — | — | (28,273) |
| Net loss | — | — | — | — | — | — | (534,838) | (534,838) |
| Balances as of September 30, 2025 | 9,558 | $9,265 | 439,214,244 | $439 | $1,256,260 | $(151,509) | $(867,114) | $247,341 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.