Symbols / WULF $15.55 +4.50% TeraWulf Inc.

Financial Services • Capital Markets • United States • NCM
WULF Chart
About

TeraWulf Inc., together with its subsidiaries, owns, develops, operates digital infrastructure in the United States. It also develops and operates bitcoin mining facilities for bitcoin mining and high-performance computing workloads, leveraging clean, cost-effective, and reliable energy. The company was founded in 2021 and is headquartered in Easton, Maryland.

Fundamentals
Scroll to Statements
Sector Financial Services Industry Capital Markets Market Cap 6.59B
Enterprise Value 8.24B Income -661.42M Sales 168.46M
Book/sh 0.33 Cash/sh 7.70 Dividend Yield —
Payout 0.00% Employees 141 IPO —
P/E — Forward P/E 39.87 PEG —
P/S 39.15 P/B 46.56 P/C —
EV/EBITDA -101.91 EV/Sales 48.91 Quick Ratio 1.88
Current Ratio 2.00 Debt/Eq 3699.47 LT Debt/Eq —
EPS (ttm) -1.66 EPS next Y 0.39 EPS Growth —
Revenue Growth 2.40% Earnings 2026-05-07 ROA -2.55%
ROE -3.44% ROIC — Gross Margin 50.93%
Oper. Margin -210.53% Profit Margin 0.00% Shs Outstand 424.07M
Shs Float 308.18M Short Float 27.83% Short Ratio 3.22
Short Interest — 52W High 18.51 52W Low 2.06
Beta 4.26 Avg Volume 31.15M Volume 16.34M
Target Price $25.66 Recom Strong_buy Prev Close $14.88
Price $15.55 Change 4.50%
Valuation Models

Price estimates from analyst targets and simple models.

1. Analyst consensus
$25.66
Mean price target
2. Current target
$15.55
Latest analyst target
3. DCF / Fair value
$-4.82
Simplified: (Free Cash Flow ÷ Shares) × 18 (P/FCF multiple). Not a …
Ratings
Current target
$15.55
Low
$20.00
High
$37.00
Mean
$25.66

Latest analyst rating changes

Date Action Analyst Rating Change Price Target
2026-03-19 main Rosenblatt Buy → Buy $23
2026-03-11 main Keefe, Bruyette & Woods Outperform → Outperform $23
2026-02-27 main Rosenblatt Buy → Buy $23
2026-02-27 main Cantor Fitzgerald Overweight → Overweight $24
2026-02-03 reit Needham Buy → Buy $21
2025-12-31 up Keefe, Bruyette & Woods Market Perform → Outperform $24
2025-12-23 main Cantor Fitzgerald Overweight → Overweight $18
2025-11-12 main B. Riley Securities Buy → Buy $23
2025-11-11 reit Needham Buy → Buy $21
2025-11-11 main Rosenblatt Buy → Buy $24
2025-10-29 main Citizens Market Outperform → Market Outperform $22
2025-10-29 main Rosenblatt Buy → Buy $24
2025-10-29 main Needham Buy → Buy $21
2025-10-28 init Oppenheimer — → Outperform $20
2025-10-21 main JMP Securities Market Outperform → Market Outperform $18
2025-10-16 main Rosenblatt Buy → Buy $20
2025-10-02 main Rosenblatt Buy → Buy $15
2025-09-25 main Roth Capital Buy → Buy $22
2025-08-26 main Northland Capital Markets Outperform → Outperform $15
2025-08-22 main Rosenblatt Buy → Buy $12
News
RSS: Latest WULF news
Insider Transactions
Filed Date Insider Relationship Transaction Shares Price Value SEC
2026-03-25 PRAGER PAUL B. Chief Executive Officer — 275,000 $16.10 $4,544,999
2026-03-20 BUCELLA MICHAEL C Director — 1,665 $15.04 $25,042
2026-03-19 BUCELLA MICHAEL C Director — 4,835 $14.96 $75,291
2026-03-17 FLEURY PATRICK Chief Financial Officer — 600,000 $16.14 $9,684,000
2026-03-11 BUCELLA MICHAEL C Director — 1,338 $14.91 $19,950
2026-03-09 BUCELLA MICHAEL C Director — 2,085 $13.31 $30,071
2026-03-04 BUCELLA MICHAEL C Director — 3,171 $15.78 $50,038
2026-01-09 TANIMOTO WILLIAM JOSEPH Officer — 16,667 — —
2026-01-02 TANIMOTO WILLIAM JOSEPH Officer — 5,000 — —
2025-12-31 CARTER WALTER E. Director — 2,720 $0.00 $0
Financials
Statement View
Amounts in millions (2 decimals, no suffix) • EPS per share (2 decimals) • Trend = period evolution • YoY Growth = previous period %
Line Item Trend 2025-12-31 2024-12-31 2023-12-31 2022-12-31
Total Revenue
168.46
+20.28%
140.05
+102.30%
69.23
+360.51%
15.03
Operating Revenue
168.46
+20.28%
140.05
+102.30%
69.23
+360.51%
15.03
Cost Of Revenue
82.66
+32.03%
62.61
+129.21%
27.32
+146.46%
11.08
Reconciled Cost Of Revenue
78.21
+27.72%
61.23
+132.71%
26.31
+144.10%
10.78
Gross Profit
85.79
+10.78%
77.44
+84.77%
41.91
+961.11%
3.95
Operating Expense
256.10
+85.53%
138.03
+96.47%
70.26
+50.10%
46.81
Selling General And Administration
147.76
+109.35%
70.58
+90.66%
37.02
+2.69%
36.05
Other Operating Expenses
19.75
+158.16%
7.65
+56.45%
4.89
+19.54%
4.09
Total Expenses
338.76
+68.84%
200.64
+105.64%
97.57
+68.55%
57.89
Operating Income
-170.31
-181.08%
-60.59
-113.78%
-28.34
+33.87%
-42.86
Total Operating Income As Reported
-186.21
-144.32%
-76.22
-159.05%
-29.42
+32.74%
-43.74
EBITDA
-483.91
-2679.81%
-17.41
-10912.42%
0.16
+100.41%
-38.83
Normalized EBITDA
-38.82
-678.08%
6.72
+442.05%
1.24
+103.45%
-35.89
Reconciled Depreciation
93.05
+52.09%
61.18
+108.45%
29.35
+321.10%
6.97
EBIT
-576.96
-634.15%
-78.59
-169.23%
-29.19
+36.26%
-45.80
Total Unusual Items
-445.08
-1744.99%
-24.12
-2137.85%
-1.08
+63.36%
-2.94
Total Unusual Items Excluding Goodwill
-445.08
-1744.99%
-24.12
-2137.85%
-1.08
+63.36%
-2.94
Special Income Charges
-15.29
+36.61%
-24.12
-2137.85%
-1.08
+63.36%
-2.94
Other Special Charges
—
6.30
—
2.05
Impairment Of Capital Assets
0.00
0.00
-100.00%
3.04
+108.85%
1.46
Restructuring And Mergern Acquisition
10.40
0.00
0.00
—
Write Off
—
—
—
1.46
Net Income
-661.42
-813.33%
-72.42
+1.37%
-73.42
+19.13%
-90.79
Pretax Income
-657.21
-568.01%
-98.38
-53.72%
-64.00
+9.19%
-70.48
Net Non Operating Interest Income Expense
-80.25
-305.42%
-19.79
+43.14%
-34.81
-41.06%
-24.68
Interest Expense Non Operating
80.25
+305.42%
19.79
-43.14%
34.81
+41.06%
24.68
Net Interest Income
-80.25
-305.42%
-19.79
+43.14%
-34.81
-41.06%
-24.68
Interest Expense
80.25
+305.42%
19.79
-43.14%
34.81
+41.06%
24.68
Other Income Expense
-406.65
-2159.56%
-18.00
-2024.79%
-0.85
+71.21%
-2.94
Other Non Operating Income Expenses
38.43
+527.26%
6.13
+2552.38%
0.23
—
Gain On Sale Of Security
-429.79
—
—
0.57
Tax Provision
0.08
0.00
0.00
+100.00%
-0.26
Tax Rate For Calcs
0.00
0.00
0.00
-100.00%
0.00
Tax Effect Of Unusual Items
0.00
0.00
0.00
+100.00%
-0.01
Net Income Including Noncontrolling Interests
-661.42
-813.33%
-72.42
+1.37%
-73.42
+19.13%
-90.79
Net Income From Continuing Operation Net Minority Interest
-661.42
-813.33%
-72.42
+1.19%
-73.29
+14.71%
-85.93
Net Income From Continuing And Discontinued Operation
-661.42
-813.33%
-72.42
+1.37%
-73.42
+19.13%
-90.79
Net Income Continuous Operations
-661.42
-813.33%
-72.42
+1.19%
-73.29
+14.71%
-85.93
Net Income Discontinuous Operations
0.00
0.00
+100.00%
-0.13
+97.34%
-4.86
Normalized Income
-216.33
-347.95%
-48.29
+33.12%
-72.21
+13.00%
-83.00
Net Income Common Stockholders
-661.42
-813.33%
-72.42
+1.37%
-73.42
+19.13%
-90.79
Diluted EPS
-1.66
-690.48%
-0.21
+40.00%
-0.35
+57.32%
-0.82
Basic EPS
-1.66
-690.48%
-0.21
+40.00%
-0.35
+57.32%
-0.82
Basic Average Shares
397.61
+13.18%
351.32
+67.33%
209.96
+89.77%
110.64
Diluted Average Shares
397.61
+13.18%
351.32
+67.33%
209.96
+89.77%
110.64
Diluted NI Availto Com Stockholders
-661.42
-813.33%
-72.42
+1.37%
-73.42
+19.13%
-90.79
Depreciation Amortization Depletion Income Statement
88.60
+48.14%
59.81
+110.96%
28.35
+325.23%
6.67
Depreciation And Amortization In Income Statement
88.60
+48.14%
59.81
+110.96%
28.35
+325.23%
6.67
Depreciation Income Statement
88.60
+48.14%
59.81
+110.96%
28.35
+325.23%
6.67
Earnings From Equity Interest Net Of Tax
-4.13
-115.91%
25.96
+379.49%
-9.29
+40.87%
-15.71
Gain On Sale Of PPE
-4.89
+72.54%
-17.82
-1007.07%
1.97
+245.34%
0.57
Net Income From Tax Loss Carryforward
—
22.60
0.00
0.00
Preferred Stock Dividends
—
—
1.07
+37.16%
0.78
Line Item Trend 2025-12-31 2024-12-31 2023-12-31
Total Assets
6,558.18
+732.77%
787.51
+108.28%
378.11
Current Assets
3,478.27
+1135.92%
281.43
+349.66%
62.59
Cash Cash Equivalents And Short Term Investments
3,266.39
+1091.83%
274.06
+403.44%
54.44
Cash And Cash Equivalents
3,266.39
+1091.83%
274.06
+403.44%
54.44
Receivables
4.61
+7.79%
4.27
+326.97%
1.00
Accounts Receivable
1.21
+155.16%
0.47
—
Other Receivables
3.40
-10.63%
3.80
+279.52%
1.00
Prepaid Assets
6.27
+151.58%
2.49
-45.09%
4.54
Restricted Cash
189.93
0.00
0.00
Assets Held For Sale Current
—
—
—
Other Current Assets
11.07
+1748.41%
0.60
-77.02%
2.61
Total Non Current Assets
3,079.91
+508.58%
506.08
+60.40%
315.52
Net PPE
1,731.01
+242.74%
505.05
+133.57%
216.23
Gross PPE
1,862.76
+226.16%
571.12
+127.35%
251.21
Accumulated Depreciation
-131.75
-99.41%
-66.07
-88.86%
-34.98
Properties
0.00
0.00
0.00
Machinery Furniture Equipment
0.57
+447.12%
0.10
+0.00%
0.10
Construction In Progress
1,069.06
+561.80%
161.54
+164.61%
61.05
Other Properties
528.13
+66.15%
317.87
+149.88%
127.21
Leases
265.01
+189.27%
91.61
+45.77%
62.85
Goodwill And Other Intangible Assets
55.46
0.00
—
Goodwill
55.46
0.00
—
Investments And Advances
446.01
0.00
-100.00%
98.61
Long Term Equity Investment
446.01
0.00
-100.00%
98.61
Non Current Deferred Assets
572.89
0.00
—
Other Non Current Assets
274.54
+26606.61%
1.03
+51.40%
0.68
Total Liabilities Net Minority Interest
6,417.74
+1081.76%
543.07
+248.98%
155.62
Current Liabilities
1,735.85
+3248.15%
51.84
-66.48%
154.66
Payables And Accrued Expenses
293.15
+520.21%
47.27
+76.79%
26.74
Payables
65.34
+153.52%
25.77
+26.07%
20.44
Accounts Payable
65.14
+167.16%
24.38
+60.74%
15.17
Other Payable
—
—
1.80
Current Accrued Expenses
227.81
+959.93%
21.49
+241.59%
6.29
Pensionand Other Post Retirement Benefit Plans Current
1.72
-62.28%
4.55
+3.15%
4.41
Current Debt And Capital Lease Obligation
538.10
+1992862.96%
0.03
-99.98%
123.51
Current Debt
536.08
—
123.47
Other Current Borrowings
536.08
—
123.47
Current Capital Lease Obligation
2.02
+7370.37%
0.03
-43.75%
0.05
Current Deferred Liabilities
58.18
0.00
—
Other Current Liabilities
844.70
—
—
Total Non Current Liabilities Net Minority Interest
4,681.89
+853.11%
491.22
+51336.75%
0.95
Long Term Debt And Capital Lease Obligation
4,657.63
+848.17%
491.22
+51336.75%
0.95
Long Term Debt
4,635.03
+850.77%
487.50
+870439.29%
0.06
Long Term Capital Lease Obligation
22.60
+507.64%
3.72
+313.68%
0.90
Non Current Deferred Liabilities
23.36
0.00
—
Non Current Deferred Taxes Liabilities
0.08
0.00
—
Other Non Current Liabilities
0.90
—
—
Stockholders Equity
140.44
-42.55%
244.44
+9.87%
222.49
Common Stock Equity
140.44
-40.28%
235.17
+10.30%
213.22
Capital Stock
0.44
-95.41%
9.68
+1.33%
9.55
Common Stock
0.44
+9.90%
0.40
+45.85%
0.28
Preferred Stock
0.00
-100.00%
9.27
+0.00%
9.27
Share Issued
444.53
+9.97%
404.22
+46.07%
276.73
Ordinary Shares Number
420.07
+8.92%
385.65
+39.36%
276.73
Treasury Shares Number
24.47
+31.77%
18.57
0.00
Additional Paid In Capital
1,285.20
+87.55%
685.26
+44.93%
472.83
Retained Earnings
-993.69
-199.06%
-332.28
-27.85%
-259.89
Treasury Stock
151.51
+28.16%
118.22
0.00
Total Equity Gross Minority Interest
140.44
-42.55%
244.44
+9.87%
222.49
Total Capitalization
4,775.47
+552.43%
731.95
+228.90%
222.54
Working Capital
1,742.42
+658.94%
229.59
+349.35%
-92.08
Invested Capital
5,311.56
+634.99%
722.67
+114.61%
336.74
Total Debt
5,195.73
+957.66%
491.25
+294.68%
124.47
Net Debt
1,904.72
+792.40%
213.44
+208.96%
69.08
Capital Lease Obligations
24.61
+557.10%
3.75
+295.56%
0.95
Net Tangible Assets
84.99
-65.23%
244.44
+9.87%
222.49
Tangible Book Value
84.99
-63.86%
235.17
+10.30%
213.22
Duefrom Related Parties Current
—
—
—
Dueto Related Parties Current
0.20
-85.62%
1.39
-59.94%
3.47
Interest Payable
52.77
+1962.33%
2.56
—
Investmentsin Joint Venturesat Cost
—
—
—
Preferred Stock Equity
—
9.27
+0.00%
9.27
Line Item Trend 2025-12-31 2024-12-31 2023-12-31 2022-12-31
Operating Cash Flow
-123.18
-404.38%
-24.42
-672.88%
4.26
+112.51%
-34.07
Cash Flow From Continuing Operating Activities
-123.18
-404.38%
-24.42
-687.07%
4.16
+112.89%
-32.26
Cash From Discontinued Operating Activities
0.00
0.00
-100.00%
0.10
+105.71%
-1.80
Net Income From Continuing Operations
-661.42
-813.33%
-72.42
+1.37%
-73.42
+19.13%
-90.79
Depreciation Amortization Depletion
93.05
+52.09%
61.18
+108.45%
29.35
+321.10%
6.97
Depreciation
93.05
+52.09%
61.18
+108.45%
29.35
+321.10%
6.97
Depreciation And Amortization
93.05
+52.09%
61.18
+108.45%
29.35
+321.10%
6.97
Other Non Cash Items
-116.60
-289.10%
-29.97
-170.33%
42.61
+131.20%
18.43
Stock Based Compensation
50.91
+64.61%
30.93
+427.85%
5.86
+273.66%
1.57
Asset Impairment Charge
0.00
0.00
-100.00%
3.04
+108.85%
1.46
Deferred Tax
0.08
0.00
0.00
+100.00%
-0.26
Deferred Income Tax
0.08
0.00
0.00
+100.00%
-0.26
Operating Gains Losses
438.82
+23935.85%
-1.84
-125.13%
7.33
-57.41%
17.20
Gain Loss On Investment Securities
429.79
—
-3.17
-457.82%
-0.57
Unrealized Gain Loss On Investment Securities
0.61
+127.82%
-2.20
0.00
0.00
Gain Loss On Sale Of PPE
4.89
-72.54%
17.82
+1374.28%
1.21
0.00
Change In Working Capital
71.37
+806.36%
-10.10
+4.76%
-10.61
-180.60%
13.16
Change In Receivables
-0.46
+83.60%
-2.77
-177.12%
-1.00
-222.82%
0.81
Changes In Account Receivables
-0.91
0.00
0.00
—
Change In Prepaid Assets
-6.59
-422.03%
2.05
+268.83%
0.56
+115.41%
-3.60
Change In Payables And Accrued Expense
67.04
+3402.56%
1.91
+118.74%
-10.22
-160.76%
16.81
Change In Accrued Expense
70.84
+10107.78%
0.69
+174.54%
-0.93
-115.74%
5.92
Change In Payable
-3.80
-411.72%
1.22
+113.14%
-9.29
-185.21%
10.90
Change In Account Payable
-3.24
-537.57%
0.74
+110.18%
-7.27
-171.32%
10.20
Change In Other Working Capital
24.06
—
—
—
Change In Other Current Assets
-11.50
-6362.92%
-0.18
-287.37%
0.10
+109.13%
-1.04
Change In Other Current Liabilities
-1.18
+89.39%
-11.11
-26359.52%
-0.04
-124.00%
0.17
Investing Cash Flow
-1,368.94
-1401.71%
-91.16
-16.85%
-78.01
+17.05%
-94.05
Cash Flow From Continuing Investing Activities
-1,368.94
-1401.71%
-91.16
-16.85%
-78.01
+17.05%
-94.05
Net PPE Purchase And Sale
-1,048.54
-328.65%
-244.62
-225.43%
-75.17
-22.94%
-61.14
Purchase Of PPE
-1,060.19
-295.68%
-267.94
-256.45%
-75.17
-3.17%
-72.86
Sale Of PPE
11.65
-50.06%
23.32
0.00
-100.00%
11.72
Capital Expenditure
-1,060.19
-295.68%
-267.94
-256.45%
-75.17
-3.17%
-72.86
Net Investment Purchase And Sale
—
67.37
0.00
0.00
Sale Of Investment
—
67.37
0.00
0.00
Net Business Purchase And Sale
-471.73
-647.98%
86.09
+3125.87%
-2.85
+93.84%
-46.17
Purchase Of Business
-471.73
0.00
+100.00%
-2.85
+93.84%
-46.17
Gain Loss On Sale Of Business
0.00
+100.00%
-22.60
0.00
0.00
Net Intangibles Purchase And Sale
151.33
+124.62%
67.37
0.00
0.00
Net Other Investing Changes
—
—
—
13.27
Financing Cash Flow
4,940.84
+1373.97%
335.21
+179.65%
119.87
+33.21%
89.98
Cash Flow From Continuing Financing Activities
4,940.84
+1373.97%
335.21
+179.65%
119.87
+33.21%
89.98
Net Issuance Payments Of Debt
5,097.53
+1370.27%
346.71
+6581.73%
-5.35
-121.17%
25.27
Issuance Of Debt
5,106.69
+948.49%
487.05
+38864.00%
1.25
-96.92%
40.58
Repayment Of Debt
-9.16
+93.47%
-140.34
-2026.72%
-6.60
+56.89%
-15.31
Long Term Debt Issuance
5,106.69
+948.49%
487.05
+38864.00%
1.25
-96.64%
37.16
Long Term Debt Payments
-9.16
+93.47%
-140.34
-2026.72%
-6.60
0.00
Net Long Term Debt Issuance
5,097.53
+1370.27%
346.71
+6581.73%
-5.35
-114.39%
37.16
Short Term Debt Issuance
—
0.00
0.00
-100.00%
3.42
Short Term Debt Payments
—
0.00
0.00
+100.00%
-15.31
Net Short Term Debt Issuance
—
0.00
0.00
+100.00%
-11.89
Net Common Stock Issuance
-33.29
-147.22%
70.50
-48.13%
135.92
+187.19%
47.33
Common Stock Payments
-33.29
+71.84%
-118.22
0.00
0.00
Repurchase Of Capital Stock
-33.30
+71.83%
-118.22
0.00
0.00
Proceeds From Stock Option Exercised
5.69
+18.26%
4.81
+92.32%
2.50
-56.14%
5.70
Net Other Financing Charges
-129.08
-48.70%
-86.81
-557.53%
-13.20
-723.62%
2.12
Changes In Cash
3,448.71
+1470.26%
219.63
+376.25%
46.12
+220.94%
-38.13
Beginning Cash Position
274.06
+403.44%
54.44
+554.08%
8.32
-82.08%
46.45
End Cash Position
3,722.78
+1258.35%
274.06
+403.44%
54.44
+554.08%
8.32
Free Cash Flow
-1,183.37
-304.76%
-292.36
-312.33%
-70.91
+33.69%
-106.92
Interest Paid Supplemental Data
14.00
+101.22%
6.96
-64.45%
19.57
+39.91%
13.99
Income Tax Paid Supplemental Data
0.00
0.00
0.00
0.00
Common Stock Issuance
0.00
-100.00%
188.72
+38.85%
135.92
+187.19%
47.33
Earnings Losses From Equity Investments
4.13
+222.81%
-3.36
-136.20%
9.29
-40.87%
15.71
Issuance Of Capital Stock
0.00
-100.00%
188.72
+38.85%
135.92
+138.90%
56.89
Net Preferred Stock Issuance
-0.01
0.00
0.00
-100.00%
9.57
Preferred Stock Issuance
—
0.00
0.00
-100.00%
9.57
Preferred Stock Payments
-0.01
0.00
0.00
—
Sale Of Business
0.00
-100.00%
86.09
0.00
0.00
Sale Of Intangibles
151.33
+124.62%
67.37
0.00
0.00
SEC Filings

Recent 10-K, 10-Q, 8-K, and Form 4 (insider) filings.

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