According to Mars Finance, SEC filings reveal that TeraWulf reported its second-quarter 2026 operating results, generating $44.767 million in revenue, of which $31.932 million came from HPC leasing services, accounting for approximately 71% of total revenue. The company’s Lake Mariner project in New York has now commissioned 102 MW of revenue-generating IT capacity, with an additional 336 MW under construction. The unit cost of IT capacity remains between $8 million and $10 million per MW. TeraWulf has completed the acquisition of the Muskie Data Campus in Kentucky, granting access to up to 1 GW of power capacity. Its Justified campus has signed a lease agreement with Anthropic for approximately 401 MW over a 20-year term, with an initial contract value of about $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 MW of new contracted IT capacity.
TeraWulf Q2 Revenue Reaches $44.8M, Signs 20-Year, $19B Lease with Anthropic
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Summary
TeraWulf reported Q2 2026 revenue of $44.767 million, including $31.932 million from HPC leasing. The company launched 102 MW of IT capacity at Lake Mariner in New York, with an additional 336 MW under construction. It acquired Kentucky’s Muskie Data Campus, securing access to up to 1 GW of power. TeraWulf’s Justified campus signed a 20-year, 401 MW lease with Anthropic valued at $19 billion, a major strategic announcement. The company plans to sell a 50.1% stake in Abernathy for $530 million and reaffirmed its annual IT capacity growth target of 250–500 MW. Amid rising inflation data, this move enhances clarity around its long-term financial strategy.
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