iHub News
2週前
TeraWulf shares rise after securing 1GW-plus Kentucky data campus project (WULF)May 26, 2026 9:09 AM
IH Market News Shares of TeraWulf (NASDAQ:WULF) gained 4.7% in premarket trading on Tuesday after the company announced the acquisition of a hyperscale high-performance computing development site in eastern Kentucky. New Muskie Data Campus expected to exceed 1GW capacity The acquisition establishes the Muskie Data Campus, which TeraWulf said is expected to support more than one gigawatt of data centre capacity over time. The company acquired the site from Industrial Equity Partners. TeraWulf expects the initial 500 megawatts of capacity to begin ramping in the second half of 2028, with an additional 500 megawatts targeted for delivery during the second half of 2030. The campus is located within the 1,000-acre EastPark Industrial Park and includes approximately 285 acres of owned and controlled land. Power infrastructure designed for large-scale AI and HPC demand Kentucky Power, an AEP company, is currently constructing a 345-kilovolt substation connected to an existing 765-kilovolt transmission network. The infrastructure is designed to provide redundant utility-scale power capacity capable of supporting the full 1GW-plus campus. TeraWulf said transmission infrastructure agreements and energy service arrangements were finalized alongside the acquisition. CEO says project supports next-generation computing strategy “This acquisition further reinforces the strategy we discussed on our first quarter earnings call: securing and developing large-scale, power-advantaged sites capable of supporting the next generation of HPC workloads,” said Paul Prager, Chairman and Chief Executive Officer of TeraWulf. Site already zoned as company expands Kentucky footprint The company said the site is already appropriately zoned for development, while permitting work is underway and only limited preparation work is needed before construction of the data centre facilities begins. The Muskie Data Campus becomes TeraWulf’s second major digital infrastructure project in Kentucky, alongside the company’s 480-megawatt Justified Data campus in Hancock County. Local officials highlight economic impact Regional economic development officials reportedly described the project as one of the most significant economic development opportunities for northeastern Kentucky in decades. TeraWulf stock price Original: TeraWulf shares rise after securing 1GW-plus Kentucky data campus project (WULF)
iHub News
2月前
TeraWulf Shares Slide on $800 Million Equity Raise Plan and Soft Q1 OutlookApril 15, 2026 6:42 AM
IH Market News
TeraWulf (NASDAQ:WULF) shares fell 6.6% to $19.45 in premarket trading on Wednesday after the company unveiled plans for an $800 million equity offering and released preliminary first-quarter figures that missed analyst expectations.The Maryland-based data centre infrastructure group said proceeds from the share sale will be used in part to fund development of a new facility at its Hawesville, Kentucky site. The capital will also go toward repaying its existing credit facility in full, supporting potential acquisitions, and covering general corporate expenses.Morgan Stanley has been appointed as lead bookrunner for the transaction, while Cantor Fitzgerald is acting as capital markets adviser.TeraWulf also provided an early look at its first-quarter performance, forecasting revenue in the range of $30 million to $35 million and adjusted EBITDA between $0 million and $3 million. The company reported cash holdings of $3.1 billion as of March 31.The preliminary results fell short of market forecasts, with analysts previously expecting revenue of around $40 million and adjusted EBITDA of $8.8 million.TeraWulf stock price
Original: TeraWulf Shares Slide on $800 Million Equity Raise Plan and Soft Q1 Outlook
EliteOGz
7月前
TeraWulf's 2026 build plan involves expanding its AI-focused data center capacity, including projects at its Lake Mariner and Cayuga sites in New York, and a new joint venture campus in Texas. At the Lake Mariner site, it plans to deliver 138 MW of capacity in the second half of 2026. In Texas, a new 168 MW joint venture facility with Fluidstack is expected to be operational in the second half of 2026, as per a deal backed by Google.
EliteOGz
7月前
TeraWulf (WULF) Q3 2025 Earnings Breakdown: Bullish Signal Amid HPC Pivot
TeraWulf's Q3 2025 results scream bullish—a "transformational" quarter that catapults the company from Bitcoin mining roots into high-margin, sustainable HPC infrastructure. Despite a headline net loss driven by non-cash items, revenue surged, multi-billion-dollar contracts locked in durable cash flows, and $5B+ in financings fuel aggressive expansion. This aligns perfectly with AI/HPC demand, positioning WULF for multi-year growth. Below, I break it down by key areas, highlighting why it's a green light for investors.
1. Financial Snapshot: Strong Core, Noisy Headline
Revenue: $50.6M (up 87% YoY from $27M), fueled by higher Bitcoin prices, expanded mining ops, and $7.2M initial HPC lease revenue—a new recurring stream signaling the pivot's payoff.
Net Loss: $455.1M (vs. $22.7M YoY), but this is largely non-cash: A $424.6M hit from changes in fair value of warrant/derivative liabilities (accounting quirk, not ops). Strip it out, and underlying performance shines.
Adjusted EBITDA (non-GAAP): $18.1M (up 203% from $6M YoY)—a cleaner profitability gauge showing ops efficiency. YTD: $28M vs. $57.5M (slight dip due to scaling costs, but still positive).
Balance Sheet: Cash ballooned to $712.8M (from $274M at year-start), post-$5B+ financings. Debt: ~$1.5B (new notes at low rates: 1% Convertible due 2031, 7.75% Secured due 2030, 0% Convertible due 2032)—manageable for growth, with liquidity for HPC buildouts.
Bullish Take: Ignore the GAAP loss; focus on EBITDA ramp and cash hoard. This funds self-sustained scaling without dilution risk.
Metric (Q3 2025)ValueYoY ChangeNotesRevenue$50.6M+87%HPC debut adds durabilityNet Loss($455.1M)WorsenedNon-cash derivatives dragAdj. EBITDA$18.1M+203%Core ops profitabilityCash Position$712.8M+160%Post-financings firepower
2. Operational Milestones: Execution on Steroids
HPC Ramp: At flagship Lake Mariner (NY), energized 22.5 MW HPC alongside 245 MW mining. Delivered key builds (WULF Den, CB-1; CB-2 imminent).
Contracts Signed: >$17B total in long-term, credit-enhanced deals—insane backlog for visibility:
Core42: 72.5 MW GPU leases ($1.1B over 10 yrs).
Fluidstack (x3): 450 MW ($6.7B over 10 yrs, $3.2B Google-backed).
Abernathy JV (TX): 240 MW initial (expandable to 600 MW), 25-yr lease ($1.3B Google-backed); TeraWulf controls up to 51%.
Bonus: 51% stake in future 200 MW Fluidstack project.
New Footprint: 80-yr lease at Cayuga (NY) for 2027 HPC start; Abernathy taps SPP grid for Southwest expansion.
Bullish Take: These aren't speculative—phased deliveries through 2026, with hyperscaler backing (Google) de-risking revenue. Mining (still 80%+ rev) provides bridge cash while HPC (higher margins) takes over.
3. Financings & Capital Strategy: War Chest Loaded
$5B+ Raised: $1B Convertible Notes (Aug), $3.2B Secured Notes (Oct, funds Lake Mariner), $1.025B Convertible Notes (Oct, for Abernathy equity/liquidity).
Low-cost structure (0-7.75% rates) matches long-dated assets; no near-term maturities.
Bullish Take: Investor confidence evident—raises at favorable terms amid rate hikes elsewhere. Positions TeraWulf to hit scale without equity dumps.
4. Growth Outlook: Ambitious Yet Achievable
Target: 250–500 MW new HPC contracts annually—reaffirmed, with "significant pipeline visibility."
Pipeline Depth: Abernathy expansions, Cayuga ramp, in-house developments "approaching realization." Low-carbon edge (nuclear/hydro) attracts ESG-focused hyperscalers.
2026 Catalysts: Fluidstack phases online; Abernathy energize.
Bullish Take: HPC/AI boom (e.g., Nvidia demand) plays to strengths; $17B+ backlog implies 10x+ revenue potential over 10 yrs.
5. Management Commentary: Confidence Dialed Up
CEO Paul Prager: "Remarkably busy... strength of our platform and trust from world-class partners." Emphasizes execution + 2027+ pipeline.
COO Sean Farrell: Prioritizing "efficient, de-risked" deliveries.
CFO Patrick Fleury: $5B capital "underscores investor confidence"; blueprint for future funding.
Bullish Take: Tone is execution-focused, not hype—aligns with results.
Risks & Caveats (Why Not 100% Bullish?)
Execution Risk: Delays in HPC builds (power, permits) could hit timelines.
Debt Load: $1.5B leverage; interest expense up (but covered by EBITDA).
Market/Regs: Bitcoin volatility, AI hype fade, or policy shifts (e.g., energy regs) loom.
Forward-Looking: All growth assumes no material variances; SEC filings detail more.
Verdict: Strong Buy Signal (Bullish AF)
This is a pivot win—WULF's trading at a discount to HPC peers (e.g., Core Scientific, Iris Energy) despite superior contracts and cash. Net loss? Noise. The $17B backlog + $713M war chest scream multi-bagger potential in the AI infra race. Watch for Q4 HPC revenue ramp; target $10-15/share if execution holds (from ~$4-5 current). DYOR, but this drops the hammer on upside.
Whalatane
7月前
TeraWulf Stock Surges 22% After $9.5B Google-Backed AI Compute Deal With Fluidstack
Coindesk · Oct-28-2025 10:21 AM ET
Shares of TeraWulf (WULF.NaE) jumped 22% on Tuesday after the bitcoin mining firm unveiled a new $9.5 billion artificial intelligence (AI) infrastructure joint venture with cloud platform Fluidstack, deepening its push into high-performance computing (HPC).
The 25-year lease agreement, representing about $9.5 billion in contracted revenue, will see the two firms build out 168 megawatts (MW) of data center capacity at TeraWulf’s Abernathy, Texas campus. The facility will serve AI workloads, and is expected to go live in the second half of next year.
Google (GOOG.NaE) is supporting the deal by backing $1.3 billion of Fluidstack’s long-term lease obligations, giving lenders more confidence to finance the project. TeraWulf (WULF.NaE) will hold a 51% stake in the joint venture.
TeraWulf (WULF.NaE) also secured the exclusive right to co-develop Fluidstack’s next 168 MW AI data center project under similar terms. With this deal, TeraWulf (WULF.NaE) now has 510 MW of computing capacity under contract, and is aiming to add 250 to 500 MW annually going forward.
In a separate update, the company said it expects third quarter 2025 revenue between $48 million and $52 million, up around 84% from the same period last year. Adjusted EBITDA is projected between $15 million and $19 million, nearly triple last year’s results.
Kiwi