Terawulf (WULF) Capital Expenditures (2010 - 2026)

Terawulf (WULF) posted Capital Expenditures of $523.0 million for Q1 2026, down 14.97% sequentially from $615.0 million in Q4 2025, and up 458.19% YoY from $93.7 million in Q1 2025.

Terawulf (WULF) Capital Expenditures (2010 - 2026) Analysis & Trends

Terawulf (WULF) has 17 years of Capital Expenditures data on file, last reported at $523.0 million in Q1 2026.

  • Quarterly Capital Expenditures rose 458.19% year-over-year to $523.0 million in Q1 2026, while the trailing twelve-month figure through Mar 2026 was $1.5 billion (up 373.37% YoY) and the FY2025 annual result came in at $1.1 billion, up 295.68% from the prior year.
  • Capital Expenditures retreated to $523.0 million in Q1 2026 per WULF's latest filing, from $615.0 million in the prior quarter.
  • The five-year high for Capital Expenditures was $615.0 million in Q4 2025, with the low at $6.0 million in Q2 2023.
  • Average Capital Expenditures over 5 years is $116.9 million, with a median of $33.8 million recorded in 2023.
  • Year-over-year, Capital Expenditures tumbled 91.6% in 2022 and jumped 1017.18% in 2025.
  • Terawulf's Capital Expenditures stood at $7.2 million in 2022, then jumped by 371.14% to $33.8 million in 2023, then jumped by 354.86% to $153.6 million in 2024, then soared by 300.3% to $615.0 million in 2025, then declined by 14.97% to $523.0 million in 2026.
  • Business Quant data shows WULF's Capital Expenditures at $523.0 million in Q1 2026, $615.0 million in Q4 2025, and $231.6 million in Q3 2025.

Peer Comparison

# Company Market Cap Enterprise Value Gross Profit (Qtr) Capex (Qtr)
1 Morgan Stanley 330.70 Bn 197.17 Bn - 754.00 Mn
2 Goldman Sachs 309.79 Bn -627.76 Bn - 565.00 Mn
3 Schwab Charles 167.21 Bn 122.24 Bn - 140.00 Mn
4 Futu Holdings 111.36 Bn 109.19 Bn 733.58 Mn -
5 Robinhood Markets 97.69 Bn 93.05 Bn 960.00 Mn 9.00 Mn
6 LPL Financial Holdings 23.49 Bn 22.47 Bn - 165.76 Mn
7 Tradeweb Markets 21.59 Bn 20.34 Bn - 254,000.00
8 Circle Internet 15.14 Bn 13.62 Bn 35.01 Mn 9.36 Mn
9 Iren 14.46 Bn 12.24 Bn 144.76 Mn 1.22 Bn
10 Terawulf 9.97 Bn 7.15 Bn 31.65 Mn 522.95 Mn

Historic Data

Download Data
DateValue
Mar 31, 2026 522.95 Mn
Mar 31, 2026 522.95 Mn
Dec 31, 2025 614.99 Mn
Dec 31, 2025 614.99 Mn
Sep 30, 2025 231.57 Mn
Sep 30, 2025 231.57 Mn
Jun 30, 2025 119.94 Mn
Jun 30, 2025 119.94 Mn
Mar 31, 2025 93.69 Mn
Mar 31, 2025 93.69 Mn
Dec 31, 2024 153.63 Mn
Dec 31, 2024 153.63 Mn
Sep 30, 2024 20.73 Mn
Sep 30, 2024 20.73 Mn
Jun 30, 2024 46.60 Mn
Jun 30, 2024 46.60 Mn
Mar 31, 2024 46.98 Mn
Mar 31, 2024 46.98 Mn
Dec 31, 2023 33.78 Mn
Dec 31, 2023 33.78 Mn