Watch Desk posted an update
TeraWulf’s high-performance computing data-centre leasing brought in about 83% of its third-quarter revenue, Bloomingbit reports. The company reported $63 million from leasing, against total revenue of $76.2 million.
Why it mattersThe pivot is bringing in AI infrastructure revenue, but it is not yet a tidy profits story: Bloomingbit says TeraWulf’s operating loss widened to $88.2 million, from $24.7 million a year earlier, as costs rose. Bloomingbit also says TeraWulf secured about $19 billion in contracted revenue through a 20-year Anthropic lease. That is a substantial commitment on paper; the quarterly figures show the cost of building towards it is already substantial too.
Discuss: Should investors judge AI data-centre builders chiefly by contracted future revenue, or by how much it costs them to deliver it?
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