WULF TERAWULF INC.
FY2025 10-K
TERAWULF INC. (WULF) filed its fiscal year 2025 10-K annual report with the SEC on Feb 27, 2026. This page provides AI-powered analysis of the filing, including business overview, management discussion, risk factors, and key financial metrics from XBRL data.
AI Filing AnalysisFY2025 10-K
Business Overview
- • Core business: Vertically integrated owner/operator of utility-scale, liquid-cooled HPC data centers for AI, machine learning, and cloud applications
- • New focus: Strategic shift prioritizing HPC hosting as primary growth over legacy bitcoin mining operations
Management Discussion & Analysis
- • Revenue $168.5M in 2025, up $28.6M YoY from $140.1M in 2024; digital asset revenue $151.6M (+$11.5M), HPC lease revenue $16.9M (new in 2025)
- • Cost of revenue (excl. depreciation) $82.7M in 2025 vs $62.6M in 2024; power expense major driver, partly offset by $17.7M demand response proceeds
Risk Factors
- • Regulatory/legal risk: Uncertainty from evolving U.S. cryptocurrency regulations impacting bitcoin mining operations and potential future compliance costs
- • Geopolitical/macroeconomic threat: Exposure to increased U.S. tariffs, trade restrictions risking supply chain delays and higher material costs for data center expansions
Financial SummaryXBRL
Revenue
$168M
Net Income
-$661M
Gross Margin
39.2%
Operating Margin
-110.5%
Net Margin
-392.6%
ROE
-470.9%
Total Assets
$6.6B
EPS (Diluted)
$-1.66
Operating Cash Flow
-$123M
Source: XBRL data from TERAWULF INC. FY2025 10-K filing on SEC EDGAR. All figures in USD.
Get deeper insights on TERAWULF INC.
Access full AI analysis, insider trading data, fund holdings, and cross-signal detection on SignalX.