TeraWulf Q2 Revenue $44.767 Million, Signs 20-Year Lease with Anthropic

TechFlow reports, on August 5, TeraWulf released its Q2 2026 earnings, with revenue of $44.767 million, of which HPC leasing business revenue was $31.932 million, accounting for approximately 71% of total revenue. The company's Lake Mariner project in New York has 102 MW of revenue-generating IT capacity online, with another 336 MW under construction, and unit IT capacity cost remains at $8 million to $10 million per MW.

Meanwhile, TeraWulf completed the acquisition of the Kentucky Muskie Data Campus, securing up to 1 GW of power capacity; its Justified campus reached a 20-year lease agreement with Anthropic, with an agreement scale of approximately 401 MW and an initial contract value of approximately $19 billion. Additionally, the company plans to transfer 50.1% equity of the Abernathy joint venture for $530 million in cash, and reiterated the goal of adding 250 to 500 MW of signed IT capacity for the full year.