TeraWulf Q2 Revenue Hits $44.8M, Anthropic Deal Values $19B

TeraWulf reports $44.8M Q2 revenue driven by HPC leasing. The company secures a $19B, 20-year lease with Anthropic for 401MW at Justified campus, alongside major capacity expansions.

Woofun AI data shows that TeraWulf reported Q2 2026 revenue of $44.767 million, with HPC leasing contributing $31.932 million or roughly 71% of total income. The Lake Mariner project in New York activated 102 megawatts of IT capacity, while 336 megawatts remain under construction at a unit cost of $8-10 million per megawatt.

The company finalized the acquisition of the Muskie Data Campus in Kentucky, gaining access to up to 1 gigawatt of power. A lease agreement with Anthropic at the Justified campus covers approximately 401 megawatts over 20 years, valued at roughly $19 billion. TeraWulf will also divest its 50.1% stake in the Abernathy joint venture for $530 million in cash, maintaining a target of adding 250-500 megawatts of contracted IT capacity annually.