Terawulf (WULF) Shares Outstanding (2010 - 2026)
Terawulf (WULF) recorded Shares Outstanding of 485.73 million in Q2 2026, up 25.5% from 386.9 million a year earlier and up 14.8% from the prior quarter.
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Analysis
Terawulf (WULF) Shares Outstanding (2010 - 2026) Analysis & Trends
For FY2025, Terawulf reported Shares Outstanding of 397.61 million, up 13.2% from FY2024.
- Annual Shares Outstanding has increased for four straight years, with a five-year compound annual growth rate of 188.9% (FY2020 to FY2025).
- Across earlier years, Shares Outstanding came in at 351.32 million in FY2024 (+67.3%), 209.96 million in FY2023 (+89.8%), 110.64 million in FY2022 (+29.9%) and 85.2 million in FY2021.
- The Q2 2026 figure is the highest quarterly Shares Outstanding in data going back to Q2 2010.
- On a year-over-year basis, Shares Outstanding has increased for 15 consecutive quarters, with growth averaging 29.9% over the last eight quarters.
- Over the past five years, the year-over-year growth in Shares Outstanding ranged from 0.2% (Q3 2021) to 103.7% (Q3 2023).
- Per Business Quant, the preceding three quarters came in at 423 million (Q1 2026), 397.61 million (Q4 2025) and 401.56 million (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Shares Outstanding (Qtr) |
|---|---|---|---|---|---|
| 1 | Microsoft | 3,961.51 Bn | 3,884.67 Bn | 60.48 Bn | 7.43 Bn |
| 2 | International Business Machines | 215.03 Bn | 165.84 Bn | 9.91 Bn | 941.20 Mn |
| 3 | Cloudflare | 114.69 Bn | 98.22 Bn | 499.52 Mn | 354.33 Mn |
| 4 | Equinix | 98.17 Bn | 86.73 Bn | 1.40 Bn | 98.64 Mn |
| 5 | Nebius | 44.92 Bn | 18.35 Bn | 448.70 Mn | 242.53 Mn |
| 6 | CoreWeave | 36.20 Bn | 23.29 Bn | 1.70 Bn | 551.00 Mn |
| 7 | Verisign | 27.35 Bn | 24.56 Bn | 384.60 Mn | 90.80 Mn |
| 8 | Nutanix | 18.78 Bn | 10.46 Bn | 651.35 Mn | 268.69 Mn |
| 9 | GoDaddy | 13.53 Bn | 9.11 Bn | 828.20 Mn | 130.76 Mn |
| 10 | Terawulf | 5.64 Bn | -3.59 Bn | 32.37 Mn | 485.73 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 485.73 Mn |
| Mar 31, 2026 | 423.00 Mn |
| Dec 31, 2025 | 397.61 Mn |
| Sep 30, 2025 | 401.56 Mn |
| Jun 30, 2025 | 386.90 Mn |
| Mar 31, 2025 | 383.15 Mn |
| Dec 31, 2024 | 351.32 Mn |
| Sep 30, 2024 | 382.09 Mn |
| Jun 30, 2024 | 340.66 Mn |
| Mar 31, 2024 | 290.60 Mn |
| Dec 31, 2023 | 209.96 Mn |
| Sep 30, 2023 | 221.72 Mn |
| Jun 30, 2023 | 210.42 Mn |
| Mar 31, 2023 | 165.02 Mn |
| Dec 31, 2022 | 110.64 Mn |
| Sep 30, 2022 | 108.84 Mn |
| Jun 30, 2022 | 104.12 Mn |
| Mar 31, 2022 | 100.12 Mn |
| Dec 31, 2021 | 85.20 Mn |
| Sep 30, 2021 | 1.98 Mn |
API Access
Terawulf Shares Outstanding API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=shares-outstanding&ticker=WULF&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "shares-outstanding", "ticker": "WULF", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=shares-outstanding&ticker=WULF&period=max&api_key=YOUR_API_KEY");
const data = await res.json();