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TeraWulf Q3 revenue beats estimates on growth in high-performance computing lease

By Reuters News


Overview

  • U.S. digital infrastructure operator's Q3 revenue rose and beat analyst expectations

  • Adjusted EBITDA for Q3 missed analyst expectations

  • Company completed sale of Abernathy JV stake, receiving $250 mln in cash


Outlook

  • Company reaffirms target of contracting 250–500 MW of incremental critical IT capacity annually

  • Company expects CB-4 phased delivery and rent commencement in Q4, CB-5 in early 2027

  • Phased completions at Justified Data Campus expected to begin in late 2027 through Q2 2028


Result Drivers

  • HPC LEASE REVENUE - Co said growth in high-performance computing lease revenue accounted for most of Q3 revenue

  • LAKE MARINER CAPACITY - Increased critical IT capacity at Lake Mariner contributed to revenue, with further expansion underway

  • ASSET SALE GAIN - Co recognized a gain from the sale of its Abernathy JV stake


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 Revenue

Beat

$76.23 mln

$61.79 mln (20 Analysts)

Q3 Net Income

$709.53 mln

Q3 Adjusted EBITDA

Miss

-$12.80 mln

$12.84 mln (20 Analysts)

Q3 Operating Income

-$88.23 mln


Reuters Recommended Reads

  • Nov 4 - TeraWulf gets credit backstop from Google for Anthropic data-center project

  • Nov 5 - Keel Infrastructure Q3 revenue drops 59% as Bitcoin mining winds down

  • Nov 5 - IREN Q1 revenue jumps sequentially on AI Cloud strength


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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