Cash Flow Statement
Growth Metrics

Terawulf (WULF) EBITDA (2016 - 2026)

Terawulf's EBITDA history spans 16 years, with the latest figure at -$58.6 million for Q4 2025.

  • On a quarterly basis, EBITDA fell 60.6% to -$58.6 million in Q4 2025 year-over-year; TTM through Dec 2025 was -$97.6 million, a 494.93% decrease, with the full-year FY2025 number at -$97.6 million, down 494.93% from a year prior.
  • EBITDA hit -$58.6 million in Q4 2025 for Terawulf, down from $1.8 million in the prior quarter.
  • Over the last five years, EBITDA for WULF hit a ceiling of $12.8 million in Q1 2024 and a floor of -$58.6 million in Q4 2025.
  • Historically, EBITDA has averaged -$10.1 million across 5 years, with a median of -$2.7 million in 2021.
  • Biggest five-year swings in EBITDA: tumbled 14662.6% in 2021 and later soared 2791.18% in 2025.
  • Tracing WULF's EBITDA over 5 years: stood at -$41.7 million in 2021, then surged by 79.77% to -$8.4 million in 2022, then surged by 142.64% to $3.6 million in 2023, then plummeted by 1113.61% to -$36.5 million in 2024, then plummeted by 60.6% to -$58.6 million in 2025.
  • Business Quant data shows EBITDA for WULF at -$58.6 million in Q4 2025, $1.8 million in Q3 2025, and $3.2 million in Q2 2025.