Terawulf (WULF) Shares Outstanding (Diluted) (2010 - 2026)
Terawulf (WULF) reported Shares Outstanding (Diluted) of 485.73 million for 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 (Diluted) (2010 - 2026) Analysis & Trends
For FY2025, Terawulf posted Shares Outstanding (Diluted) of 397.61 million, up 13.2% from FY2024.
- Shares Outstanding (Diluted) has increased for four consecutive years, with a five-year compound annual growth rate of 188.9% (FY2020 to FY2025).
- By year, Shares Outstanding (Diluted) 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 ranks as the highest quarterly Shares Outstanding (Diluted) in data going back to Q2 2010.
- Year over year, Shares Outstanding (Diluted) has now increased in each of the last 15 quarters, with growth averaging 29.9% over the last eight quarters.
- Across the past five years, year-over-year growth in Shares Outstanding (Diluted) ran from 0.2% in Q3 2021 to 103.7% in Q3 2023.
- Per Business Quant data, the three quarters before Q2 2026 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 (Dil.) (Qtr) |
|---|---|---|---|---|---|
| 1 | Microsoft | 3,961.51 Bn | 3,884.67 Bn | 60.48 Bn | 7.45 Bn |
| 2 | International Business Machines | 215.03 Bn | 165.84 Bn | 9.91 Bn | 953.30 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 | 99.14 Mn |
| 5 | Nebius | 44.92 Bn | 18.35 Bn | 448.70 Mn | 282.72 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 | 91.10 Mn |
| 8 | Nutanix | 18.78 Bn | 10.46 Bn | 651.35 Mn | 292.18 Mn |
| 9 | GoDaddy | 13.53 Bn | 9.11 Bn | 828.20 Mn | 130.99 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 (Diluted) 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-diluted&ticker=WULF&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "shares-outstanding-diluted", "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-diluted&ticker=WULF&period=max&api_key=YOUR_API_KEY");
const data = await res.json();