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Terawulf (WULF) Operating Expenses (2016 - 2025)

Terawulf (WULF) has disclosed Operating Expenses for 16 consecutive years, with $122.2 million as the latest value for Q4 2025.

  • Quarterly Operating Expenses fell 11.35% to $122.2 million in Q4 2025 from the year-ago period, while the trailing twelve-month figure was $354.7 million through Dec 2025, up 32.5% year-over-year, with the annual reading at $354.7 million for FY2025, 64.0% up from the prior year.
  • Operating Expenses hit $122.2 million in Q4 2025 for Terawulf, up from $75.2 million in the prior quarter.
  • In the past five years, Operating Expenses ranged from a high of $137.8 million in Q4 2024 to a low of $104000.0 in Q4 2021.
  • Historically, Operating Expenses has averaged $39.4 million across 5 years, with a median of $28.3 million in 2023.
  • Biggest YoY gain for Operating Expenses was 54793.27% in 2022; the steepest drop was 95.67% in 2022.
  • Year by year, Operating Expenses stood at $104000.0 in 2021, then skyrocketed by 54793.27% to $57.1 million in 2022, then crashed by 51.04% to $28.0 million in 2023, then skyrocketed by 393.03% to $137.8 million in 2024, then fell by 11.35% to $122.2 million in 2025.
  • Business Quant data shows Operating Expenses for WULF at $122.2 million in Q4 2025, $75.2 million in Q3 2025, and $63.2 million in Q2 2025.