TeraWulf’s shares fell 6.7% post-earnings as investors reacted negatively to cautious outlook signals and potential margin pressure, despite ongoing execution and expansion efforts. The market appears concerned about deceleration risks and selective asset monetization diminishing future growth optionality.
- Delivered full operations of CB-3 at Lake Mariner, adding 102 megawatts of revenue-generating compute capacity and triggering $600 million in Google credit support.
- Advanced construction and commissioning at CB-4 and CB-5, with early data hall energizing expected in late September and early January, respectively.
- Expanded presence in Kentucky via a 401-megawatt long-term lease with Anthropic, securing approximately $19 billion in contracted revenue over 20 years.
- Acquired the Muskie site in Eastern Kentucky, a gigawatt-scale, utility-supported data campus with initial power service anticipated by Q4 2028.
- Monetized the Abernathy joint venture with a $530 million sale agreement, signaling a more cautious capital allocation approach focused on sites with greater control and visibility.
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