Terawulf (WULF) Operating Income (2010 - 2026)
Terawulf's (WULF) quarterly Operating Income came in at -$140.4 million in Q2 2026, down 800.9% year-over-year from $20.0 million in Q2 2025, and up 13.38% quarter-over-quarter from -$162.1 million in Q1 2026.
Analysis
Terawulf (WULF) Operating Income (2010 - 2026) Analysis & Trends
Terawulf has disclosed Operating Income across 17 years of filings, most recently posting -$140.4 million for Q2 2026.
- In Q2 2026, Operating Income fell 800.9% year-over-year to -$140.4 million; the TTM figure through Jun 2026 stood at -$413.6 million (down 190.54% YoY), while the FY2025 annual figure was -$186.2 million, down 144.32% from the prior year.
- Operating Income came in at -$140.4 million for Q2 2026 at Terawulf, up from -$162.1 million in the prior quarter.
- In the past five years, Operating Income ranged from a high of -$2.3 million in Q1 2024 to a low of -$162.1 million in Q1 2026.
- Average Operating Income over 5 years is -$35.5 million, with a median of -$13.4 million recorded in 2022.
- Year-over-year, Operating Income jumped 74.88% in 2024 and plunged 2474.61% in 2025.
- Over 5 years, Operating Income stood at -$13.4 million in 2022, then surged by 65.15% to -$4.7 million in 2023, then tumbled by 1002.1% to -$51.4 million in 2024, then slumped by 67.87% to -$86.3 million in 2025, then sank by 62.7% to -$140.4 million in 2026.
- Per Business Quant data, the three most recent Operating Income figures were -$140.4 million in Q2 2026, -$162.1 million in Q1 2026, and -$86.3 million in Q4 2025.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Op. Inc (Qtr) |
|---|---|---|---|---|---|
| 1 | Equinix | 102.22 Bn | 100.02 Bn | 1.40 Bn | 665.00 Mn |
| 2 | Terawulf | 8.24 Bn | 5.48 Bn | 32.37 Mn | -140.45 Mn |
| 3 | Applied Digital | 7.59 Bn | 5.57 Bn | 97.29 Mn | -124.82 Mn |
| 4 | Cipher Digital | 7.35 Bn | 3.35 Bn | 9.79 Mn | -78.54 Mn |
| 5 | GDS Holdings | 6.47 Bn | 4.41 Bn | 97.89 Mn | 64.73 Mn |
| 6 | Core Scientific | 5.72 Bn | 3.78 Bn | 70.04 Mn | -78.47 Mn |
| 7 | Vnet | 1.71 Bn | 828.02 Mn | 74.45 Mn | 33.79 Mn |
| 8 | Sify Technologies | 1.56 Bn | 1.56 Bn | 51.65 Mn | 11.79 Mn |
| 9 | WhiteFiber | 758.96 Mn | 698.59 Mn | 18.88 Mn | -9.26 Mn |
| 10 | Vulcan Infrastructure & Power | 445.09 Mn | 441.89 Mn | -1.25 Mn | -9.64 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | -140.45 Mn |
| Mar 31, 2026 | -162.14 Mn |
| Dec 31, 2025 | -86.32 Mn |
| Sep 30, 2025 | -24.67 Mn |
| Jun 30, 2025 | -15.59 Mn |
| Mar 31, 2025 | -59.63 Mn |
| Dec 31, 2024 | -51.42 Mn |
| Sep 30, 2024 | -15.71 Mn |
| Jun 30, 2024 | -6.77 Mn |
| Mar 31, 2024 | -2.32 Mn |
| Dec 31, 2023 | -4.67 Mn |
| Sep 30, 2023 | -9.69 Mn |
| Jun 30, 2023 | -5.85 Mn |
| Mar 31, 2023 | -9.22 Mn |
| Dec 31, 2022 | -13.39 Mn |
| Sep 30, 2022 | -13.37 Mn |
| Jun 30, 2022 | -7.82 Mn |
| Mar 31, 2022 | -9.17 Mn |
| Dec 31, 2021 | -41.72 Mn |
| Sep 30, 2021 | -6.03 Mn |