TeraWulf Q2 Revenue Reaches $44.76M, Signs 20-Year Lease with Anthropic

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TeraWulf reported Q2 2026 revenue of $44.767 million, with $31.932 million from HPC leasing, accounting for 71% of total revenue. The company brought 102 MW of IT capacity online at its Lake Mariner project in New York, while 336 MW remain under construction at a cost of $8–10 million per MW. A recent project announcement revealed a 20-year lease agreement with Anthropic for 401 MW at the Justified campus, valued at $19 billion. TeraWulf also plans to sell a 50.1% stake in its Abernathy joint venture for $530 million, while monitoring the latest inflation data. The company reaffirmed its annual IT capacity growth target of 250–500 MW.

Odaily Planet Daily report: According to U.S. Securities and Exchange Commission filings, TeraWulf reported its second-quarter 2026 operating results, generating $44.767 million in revenue, with $31.932 million from HPC leasing services, accounting for approximately 71% of total revenue.

The company has brought online 102 megawatts of revenue-generating IT capacity at the Lake Mariner project, with an additional 336 megawatts under construction, maintaining IT capacity costs at $8 million to $10 million per megawatt. TeraWulf has completed the acquisition of the Muskie Data Campus in Kentucky, securing up to 1 gigawatt of power capacity; its Justified campus has signed a lease agreement with Anthropic for approximately 401 megawatts over a 20-year term, with an initial contract value of approximately $19 billion.

Additionally, the company will sell its 50.1% stake in the Abernathy joint venture for $530 million in cash, while reaffirming its annual target of adding 250–500 megawatts of new IT capacity.

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