Terawulf (WULF) Convertible Debt (2024 - 2026)
Terawulf's (WULF) quarterly Convertible Debt came in at $1.1 billion in Q2 2026, up 125.48% year-over-year from $488.7 million in Q2 2025, and down 31.01% quarter-over-quarter from $1.6 billion in Q1 2026.
Analysis
Terawulf (WULF) Convertible Debt (2024 - 2026) Analysis & Trends
Terawulf has disclosed Convertible Debt across 3 years of filings, most recently posting $1.1 billion for Q2 2026.
- In Q2 2026, Convertible Debt rose 125.48% year-over-year to $1.1 billion; the TTM figure through Jun 2026 stood at $1.1 billion (up 125.48% YoY), while the FY2025 annual figure was $1.6 billion, up 224.67% from the prior year.
- Convertible Debt came in at $1.1 billion for Q2 2026 at Terawulf, down from $1.6 billion in the prior quarter.
- In the past five years, Convertible Debt ranged from a high of $1.6 billion in Q1 2026 to a low of $487.5 million in Q4 2024.
- Average Convertible Debt over 3 years is $972.4 million, with a median of $1.1 billion recorded in 2025.
- The largest YoY upside for Convertible Debt was 227.24% in 2026 against a maximum downside of 125.48% in 2026.
- Over 3 years, Convertible Debt stood at $487.5 million in 2024, then jumped by 224.67% to $1.6 billion in 2025, then slumped by 30.38% to $1.1 billion in 2026.
- Per Business Quant data, the three most recent Convertible Debt figures were $1.1 billion in Q2 2026, $1.6 billion in Q1 2026, and $1.6 billion in Q4 2025.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) |
|---|---|---|---|---|
| 1 | Equinix | 100.35 Bn | 98.13 Bn | 1.40 Bn |
| 2 | Terawulf | 7.45 Bn | 4.69 Bn | 32.37 Mn |
| 3 | Cipher Digital | 6.82 Bn | 2.80 Bn | 9.79 Mn |
| 4 | Applied Digital | 6.71 Bn | 2.74 Bn | 97.29 Mn |
| 5 | GDS Holdings | 5.78 Bn | 3.59 Bn | 97.89 Mn |
| 6 | Core Scientific | 5.48 Bn | 3.54 Bn | 70.04 Mn |
| 7 | Vnet | 1.63 Bn | 636.30 Mn | 74.45 Mn |
| 8 | Sify Technologies | 1.44 Bn | 1.44 Bn | 51.65 Mn |
| 9 | WhiteFiber | 666.74 Mn | 606.37 Mn | 18.88 Mn |
| 10 | Vulcan Infrastructure & Power | 432.00 Mn | 428.80 Mn | -1.25 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 1.10 Bn |
| Mar 31, 2026 | 1.60 Bn |
| Dec 31, 2025 | 1.58 Bn |
| Sep 30, 2025 | 1.06 Bn |
| Jun 30, 2025 | 488.72 Mn |
| Mar 31, 2025 | 488.11 Mn |
| Dec 31, 2024 | 487.50 Mn |