Terawulf (WULF) EBITDA (2010 - 2026)
Terawulf's (WULF) quarterly EBITDA came in at -$119.2 million in Q2 2026, down 3829.94% year-over-year from $3.2 million in Q2 2025, and up 10.82% quarter-over-quarter from -$133.7 million in Q1 2026.
Analysis
Terawulf (WULF) EBITDA (2010 - 2026) Analysis & Trends
Terawulf has disclosed EBITDA across 17 years of filings, most recently posting -$119.2 million for Q2 2026.
- In Q2 2026, EBITDA fell 3829.94% year-over-year to -$119.2 million; the TTM figure through Jun 2026 stood at -$309.6 million (down 300.01% YoY), while the FY2025 annual figure was -$97.6 million, down 494.93% from the prior year.
- EBITDA came in at -$119.2 million for Q2 2026 at Terawulf, up from -$133.7 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.
- Average EBITDA over 5 years is -$22.5 million, with a median of -$5.7 million recorded in 2022.
- Year-over-year, EBITDA surged 2791.18% in 2025 and plunged 3829.94% in 2026.
- Over 5 years, EBITDA stood at -$8.4 million in 2022, then jumped by 142.64% to $3.6 million in 2023, then slumped by 1113.61% to -$36.5 million in 2024, then tumbled by 60.6% to -$58.6 million in 2025, then tumbled by 103.47% to -$119.2 million in 2026.
- Per Business Quant data, the three most recent EBITDA figures were -$119.2 million in Q2 2026, -$133.7 million in Q1 2026, and -$58.6 million in Q4 2025.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | EBITDA (Qtr) |
|---|---|---|---|---|---|
| 1 | Equinix | 100.35 Bn | 98.13 Bn | 1.40 Bn | 665.00 Mn |
| 2 | Terawulf | 7.45 Bn | 4.69 Bn | 32.37 Mn | -119.21 Mn |
| 3 | Cipher Digital | 6.82 Bn | 2.80 Bn | 9.79 Mn | -59.94 Mn |
| 4 | Applied Digital | 6.71 Bn | 2.74 Bn | 97.29 Mn | -124.82 Mn |
| 5 | GDS Holdings | 5.78 Bn | 3.59 Bn | 97.89 Mn | 64.50 Mn |
| 6 | Core Scientific | 5.48 Bn | 3.54 Bn | 70.04 Mn | -78.47 Mn |
| 7 | Vnet | 1.63 Bn | 636.30 Mn | 74.45 Mn | 135.34 Mn |
| 8 | Sify Technologies | 1.44 Bn | 1.44 Bn | 51.65 Mn | 31.74 Mn |
| 9 | WhiteFiber | 666.74 Mn | 606.37 Mn | 18.88 Mn | -2.69 Mn |
| 10 | Vulcan Infrastructure & Power | 432.00 Mn | 428.80 Mn | -1.25 Mn | -8.54 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | -119.21 Mn |
| 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 |