Terawulf (WULF) Capital Expenditures (2010 - 2026)
Terawulf (WULF) recorded Capital Expenditures of $855.56 million in Q2 2026, up 613.3% from $119.94 million a year earlier and up 63.6% from the prior quarter.
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Analysis
Terawulf (WULF) Capital Expenditures (2010 - 2026) Analysis & Trends
On a TTM basis, Terawulf's Capital Expenditures came in at $2.23 billion as of Jun 30, 2026, up 473.5% year-over-year; for FY2025, it was $1.06 billion, up 295.7% from FY2024.
- Annual Capital Expenditures has increased for three straight years, with a five-year compound annual growth rate of 488.7% (FY2020 to FY2025).
- Across earlier years, Capital Expenditures came in at $267.94 million in FY2024 (+256.5%), $75.17 million in FY2023 (+23.0%), $61.12 million in FY2022 (-44.0%) and $109.07 million in FY2021.
- The Q2 2026 figure is the highest quarterly Capital Expenditures in data going back to Q3 2010.
- On a year-over-year basis, Capital Expenditures has increased for three consecutive quarters, with growth averaging 280.7% over the last seven quarters.
- Peak year-over-year performance for Capital Expenditures in the last five years was growth of 676.1% in Q2 2024, against a decline of 90.9% in Q4 2022 at the low end.
- Per Business Quant, the preceding three quarters came in at $522.95 million (Q1 2026), $614.99 million (Q4 2025) and $231.57 million (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Capex (Qtr) |
|---|---|---|---|---|---|
| 1 | Microsoft | 3,978.22 Bn | 3,913.71 Bn | 62.56 Bn | 39.37 Bn |
| 2 | International Business Machines | 234.30 Bn | 188.91 Bn | 9.71 Bn | 332.00 Mn |
| 3 | Equinix | 98.75 Bn | 86.64 Bn | 1.31 Bn | 1.57 Bn |
| 4 | Cloudflare | 87.20 Bn | 70.73 Bn | 499.52 Mn | 49.96 Mn |
| 5 | Nebius | 29.33 Bn | 2.76 Bn | 448.70 Mn | -5.66 Bn |
| 6 | Verisign | 28.15 Bn | 25.50 Bn | 393.20 Mn | 7.60 Mn |
| 7 | CoreWeave | 24.27 Bn | 11.36 Bn | 1.70 Bn | 6.42 Bn |
| 8 | Nutanix | 15.78 Bn | 7.47 Bn | 651.35 Mn | 37.44 Mn |
| 9 | GoDaddy | 15.07 Bn | 10.45 Bn | 843.00 Mn | 11.90 Mn |
| 10 | Terawulf | 4.95 Bn | -4.28 Bn | 32.37 Mn | 1.09 Bn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 1.09 Bn |
| Mar 31, 2026 | 522.95 Mn |
| Dec 31, 2025 | 614.99 Mn |
| Sep 30, 2025 | 231.57 Mn |
| Jun 30, 2025 | 119.94 Mn |
| Mar 31, 2025 | 93.69 Mn |
| Dec 31, 2024 | 153.63 Mn |
| Sep 30, 2024 | 20.73 Mn |
| Jun 30, 2024 | 46.60 Mn |
| Mar 31, 2024 | 46.98 Mn |
| Dec 31, 2023 | 33.78 Mn |
| Sep 30, 2023 | 25.40 Mn |
| Jun 30, 2023 | 6.00 Mn |
| Mar 31, 2023 | 9.99 Mn |
| Dec 31, 2022 | 7.17 Mn |
| Sep 30, 2022 | 8.48 Mn |
| Jun 30, 2022 | 17.72 Mn |
| Mar 31, 2022 | 27.75 Mn |
| Dec 31, 2021 | 78.61 Mn |
| Sep 30, 2021 | 30.45 Mn |
API Access
Terawulf Capital Expenditures API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=capital-expenditures&ticker=WULF&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "capital-expenditures", "ticker": "WULF", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=capital-expenditures&ticker=WULF&period=max&api_key=YOUR_API_KEY");
const data = await res.json();