Terawulf (WULF) Invested Capital (2016 - 2026)
Terawulf's (WULF) quarterly Invested Capital came in at $4.4 billion in Q2 2026, up 2033.57% year-over-year from $204.3 million in Q2 2025, and up 20.59% quarter-over-quarter from $3.6 billion in Q1 2026.
Analysis
Terawulf (WULF) Invested Capital (2016 - 2026) Analysis & Trends
Terawulf has disclosed Invested Capital across 11 years of filings, most recently posting $4.4 billion for Q2 2026.
- In Q2 2026, Invested Capital rose 2033.57% year-over-year to $4.4 billion; the TTM figure through Jun 2026 stood at $4.4 billion (up 2033.57% YoY), while the FY2025 annual figure was $3.7 billion, up 1425.4% from the prior year.
- Invested Capital came in at $4.4 billion for Q2 2026 at Terawulf, up from $3.6 billion in the prior quarter.
- In the past five years, Invested Capital ranged from a high of $4.4 billion in Q2 2026 to a low of $204.3 million in Q2 2025.
- Average Invested Capital over 5 years is $1.0 billion, with a median of $356.8 million recorded in 2023.
- Year-over-year, Invested Capital sank 61.51% in 2025 and jumped 2033.57% in 2026.
- Over 5 years, Invested Capital stood at $297.9 million in 2022, then jumped by 57.6% to $469.5 million in 2023, then plunged by 47.93% to $244.4 million in 2024, then jumped by 1425.4% to $3.7 billion in 2025, then increased by 16.92% to $4.4 billion in 2026.
- Per Business Quant data, the three most recent Invested Capital figures were $4.4 billion in Q2 2026, $3.6 billion in Q1 2026, and $3.7 billion in Q4 2025.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Invested Cap. (Qtr) |
|---|---|---|---|---|---|
| 1 | Equinix | 100.35 Bn | 98.13 Bn | 1.40 Bn | 34.07 Bn |
| 2 | Terawulf | 7.45 Bn | 4.69 Bn | 32.37 Mn | 4.36 Bn |
| 3 | Cipher Digital | 6.82 Bn | 2.80 Bn | 9.79 Mn | 6.20 Bn |
| 4 | Applied Digital | 6.71 Bn | 2.74 Bn | 97.29 Mn | 6.70 Bn |
| 5 | GDS Holdings | 5.78 Bn | 3.59 Bn | 97.89 Mn | 8.45 Bn |
| 6 | Core Scientific | 5.48 Bn | 3.54 Bn | 70.04 Mn | 3.69 Bn |
| 7 | Vnet | 1.63 Bn | 636.30 Mn | 74.45 Mn | 3.23 Bn |
| 8 | Sify Technologies | 1.44 Bn | 1.44 Bn | 51.65 Mn | 801.51 Mn |
| 9 | WhiteFiber | 666.74 Mn | 606.37 Mn | 18.88 Mn | 402.28 Mn |
| 10 | Vulcan Infrastructure & Power | 432.00 Mn | 428.80 Mn | -1.25 Mn | 16.74 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 4.36 Bn |
| Mar 31, 2026 | 3.62 Bn |
| Dec 31, 2025 | 3.73 Bn |
| Jun 30, 2025 | 204.33 Mn |
| Dec 31, 2024 | 244.45 Mn |
| Sep 30, 2024 | 372.63 Mn |
| Jun 30, 2024 | 530.88 Mn |
| Mar 31, 2024 | 471.11 Mn |
| Dec 31, 2023 | 469.48 Mn |
| Sep 30, 2023 | 356.76 Mn |
| Jun 30, 2023 | 256.92 Mn |
| Mar 31, 2023 | 271.13 Mn |
| Dec 31, 2022 | 297.89 Mn |
| Sep 30, 2022 | 240.45 Mn |
| Mar 31, 2022 | 232.41 Mn |
| Dec 31, 2021 | 229.87 Mn |
| Sep 30, 2021 | 17.64 Mn |
| Jun 30, 2021 | 10.95 Mn |
| Mar 31, 2021 | 204.09 Mn |
| Dec 31, 2020 | 14.53 Mn |