Bitcoin Mining Firm TeraWulf Sees 20% Revenue Growth in 2025, Accelerates Shift to AI and HPC Infrastructure

BlockBeats News, February 27: Nasdaq-listed Bitcoin mining firm TeraWulf released its financial report on Thursday, with full-year 2025 revenue reaching $1.685 billion, a year-on-year increase of 20.3%, including $16.9 million from its newly launched HPC leasing business. Despite the revenue growth, the company's full-year net loss widened to $661.4 million, with an adjusted EBITDA loss of $23.1 million.

TeraWulf has defined 2025 as a "year of inflection," having already signed long-term data center leases covering 522 megawatts of critical IT load, with contracted customer revenue exceeding $12.8 billion and $6.5 billion in financing to support its HPC platform development. In the fourth quarter, digital asset revenue declined quarter-on-quarter to $26.1 million due to a decrease in Bitcoin production and price, while HPC leasing revenue increased to $9.7 million.

The company's strategy is accelerating towards AI and cloud computing customers, with core deployments in the New York Lake Mariner campus and Texas Abernathy HPC campus. Earlier this month, TeraWulf also acquired brownfield infrastructure in Kentucky and Maryland, adding approximately 1.5 GW of capacity.