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TeraWulf’s HPC lease revenue jumped 117% quarter-on-quarter to $21 million, but a $427 million net loss highlights the costs of transitioning from Bitcoin mining to AI infrastructure.
Publicly traded Bitcoin miner and data center operator TeraWulf reported a hefty net loss in Q1 as its AI revenue took over from BTC.
TeraWulf’s Q1 2026 results show $21 million in AI/HPC hosting revenue versus under $13 million from Bitcoin mining, marking the first quarter where high‑performance compute has overtaken BTC as the company’s primary revenue driver. TeraWulf’s latest earnings show its business…
