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Terawulf (WULF) Operating Expenses (2016 - 2025)

Terawulf's Operating Expenses history spans 16 years, with the latest figure at $27.7 million for Q4 2025.

  • For Q4 2025, Operating Expenses fell 79.87% year-over-year to $27.7 million; the TTM value through Dec 2025 reached $91.0 million, down 57.71%, while the annual FY2025 figure was $91.0 million, 57.92% down from the prior year.
  • Operating Expenses for Q4 2025 was $27.7 million at Terawulf, up from $26.5 million in the prior quarter.
  • Across five years, Operating Expenses topped out at $137.8 million in Q4 2024 and bottomed at -$4.0 billion in Q2 2022.
  • The 5-year median for Operating Expenses is $15.8 million (2023), against an average of -$189.8 million.
  • The largest annual shift saw Operating Expenses plummeted 192801.25% in 2022 before it soared 12839.53% in 2024.
  • A 5-year view of Operating Expenses shows it stood at $2.4 million in 2021, then skyrocketed by 1093.98% to $28.8 million in 2022, then crashed by 96.3% to $1.1 million in 2023, then skyrocketed by 12839.53% to $137.8 million in 2024, then crashed by 79.87% to $27.7 million in 2025.
  • Per Business Quant, the three most recent readings for WULF's Operating Expenses are $27.7 million (Q4 2025), $26.5 million (Q3 2025), and $21.2 million (Q2 2025).