Terawulf (WULF) EBITDA (2010 - 2026)
Terawulf's (WULF) quarterly EBITDA came in at -$133.7 million in Q1 2026, down 203.41% year-on-year from $129.3 million in Q1 2025, and down 128.14% quarter-over-quarter from -$58.6 million in Q4 2025.
Terawulf (WULF) EBITDA (2010 - 2026) Analysis & Trends
Terawulf has disclosed EBITDA across 17 years of filings, most recently posting -$133.7 million for Q1 2026.
- EBITDA for Q1 2026 came in at -$133.7 million, down 203.41% year-over-year; the trailing twelve-month figure through Mar 2026 was -$187.2 million (down 155.66% YoY), and the FY2025 annual result was -$97.6 million, down 494.93% from the prior year.
- EBITDA came in at -$133.7 million for Q1 2026 at Terawulf, down from -$58.6 million in the prior quarter.
- In the past five years, EBITDA ranged from a high of $12.8 million in Q1 2024 to a low of -$133.7 million in Q1 2026.
- The 5-year median for EBITDA is -$3.8 million (2023), against an average of -$16.8 million.
- Across the five-year window, EBITDA slumped 1113.61% in 2024 and jumped 2791.18% in 2025, its largest moves.
- Terawulf's EBITDA stood at -$8.4 million in 2022, then jumped by 142.64% to $3.6 million in 2023, then plunged by 1113.61% to -$36.5 million in 2024, then sank by 60.6% to -$58.6 million in 2025, then slumped by 128.14% to -$133.7 million in 2026.
- The last three EBITDA figures came in at -$133.7 million (Q1 2026), -$58.6 million (Q4 2025), and $1.8 million (Q3 2025), per Business Quant data.
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | EBITDA (Qtr) |
|---|---|---|---|---|---|
| 1 | SOL Strategies | 100,773.79 Bn | 100,773.79 Bn | - | -35.15 Mn |
| 2 | Morgan Stanley | 331.35 Bn | 197.82 Bn | - | 19.58 Bn |
| 3 | Goldman Sachs | 317.73 Bn | -619.82 Bn | - | 23.57 Bn |
| 4 | Schwab Charles | 153.74 Bn | 108.77 Bn | - | 4.01 Bn |
| 5 | Robinhood Markets | 75.98 Bn | 71.34 Bn | 960.00 Mn | 304.00 Mn |
| 6 | Interactive Brokers | 38.91 Bn | 49.50 Bn | - | 246.00 Mn |
| 7 | LPL Financial Holdings | 22.76 Bn | 21.73 Bn | - | 584.88 Mn |
| 8 | Tradeweb Markets | 20.90 Bn | 19.65 Bn | - | 294.45 Mn |
| 9 | Circle Internet | 20.00 Bn | 18.49 Bn | 35.01 Mn | 46.00 Mn |
| 10 | Terawulf | 2.09 Bn | -734.82 Mn | 31.65 Mn | -133.67 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | -133.67 Mn |
| Dec 31, 2025 | -58.59 Mn |
| Sep 30, 2025 | 1.83 Mn |
| Jun 30, 2025 | 3.20 Mn |
| Mar 31, 2025 | -44.05 Mn |
| Dec 31, 2024 | -36.48 Mn |
| Sep 30, 2024 | -68,000.00 |
| Jun 30, 2024 | 7.37 Mn |
| Mar 31, 2024 | 12.77 Mn |
| Dec 31, 2023 | 3.60 Mn |
| Sep 30, 2023 | -1.47 Mn |
| Jun 30, 2023 | 583,000.00 |
| Mar 31, 2023 | -3.79 Mn |
| Dec 31, 2022 | -8.44 Mn |
| Sep 30, 2022 | -11.86 Mn |
| Jun 30, 2022 | -7.62 Mn |
| Mar 31, 2022 | -9.16 Mn |
| Dec 31, 2021 | -41.72 Mn |
| Sep 30, 2021 | -6.03 Mn |
| Jun 30, 2021 | -644,093.00 |