Bitcoin miner TeraWulf posted a pointy rebound within the third quarter, practically doubling its year-over-year income as the corporate benefited from Bitcoin’s value surge and rising publicity to synthetic intelligence infrastructure.
Key Takeaways:
- TeraWulf’s Q3 income jumped 87% to $50.6 million, fueled by increased Bitcoin costs and rising AI infrastructure earnings.
- The miner produced fewer Bitcoins however offset the decline with a mean BTC value of $114,390.
- TeraWulf is diversifying into AI and information internet hosting, securing multi-billion-dollar offers with Fluidstack and Google.
In its Q3 earnings report launched Monday, the US-based firm mentioned whole income rose 87% to $50.6 million, pushed largely by increased Bitcoin costs and extra earnings from high-performance computing (HPC) leasing. Of that whole, $43.4 million got here from “digital asset income.”
TeraWulf Offsets Decrease Bitcoin Output With Increased Costs, Boosting Income
TeraWulf mined 377 Bitcoin in the course of the quarter, down from 555 a yr earlier, however compensated with stronger pricing, the common Bitcoin value in the course of the interval was $114,390, in contrast with $61,023 in Q3 2024.
“The rise in income was primarily as a consequence of increased common Bitcoin costs, partially offset by a lower in Bitcoin mined,” the corporate mentioned.
The agency additionally attributed the outcomes to expanded mining capability and the beginning of AI-related lease income.
Following the April 2024 halving that reduce block rewards, a number of miners, together with TeraWulf, have begun repurposing a part of their operations for AI and high-compute workloads to diversify earnings streams.
Good morning, everybody. Reminder that tonight, at 4:30 pm ET, $WULF will host its Third Quarter Earnings Convention Name.
See you there
Hyperlink to hitch right here: https://t.co/QcTe3lPbYy— TeraWulf (@TeraWulfInc) November 10, 2025
CEO Paul Prager mentioned the corporate stays “squarely targeted on execution whereas advancing the following part of development for 2027 and past.”
He highlighted an expanded partnership with Fluidstack and Google at TeraWulf’s Lake Mariner website in New York, with further growth underway on the Abernathy three way partnership within the Southwest Energy Pool.
To help its information middle build-out, TeraWulf introduced a $3.2 billion senior secured notes providing in October and signed three 10-year lease offers value $6.7 billion with Fluidstack for AI infrastructure internet hosting.
Shares of TeraWulf (WULF) rose as a lot as 6% on Monday to $14.85 earlier than paring positive factors to shut at $14.30, up 0.49% for the day.
The sturdy quarterly efficiency underscores how miners are adapting to Bitcoin’s shifting economics, balancing AI internet hosting growth whereas nonetheless using the momentum of a stronger BTC market restoration.
Bitcoin Mining Profitability Hits Multi-Month Lows
As reported, Bitcoin miners are going through mounting stress as profitability plunges to its lowest stage in months, pushed by rising energy prices, declining Bitcoin costs, and decreased block rewards following April’s halving.
The important thing profitability metric, generally known as hash value, has dropped to round $42 per PH/s, nearing break-even ranges that threaten smaller operations and squeeze business margins.
The downturn has rippled throughout the availability chain, with {hardware} gross sales slowing and gear producers struggling as miners delay purchases or cancel orders.
Some corporations, like Bitdeer, have turned to self-mining, whereas others are pivoting to AI and high-performance computing (HPC) to capitalize on stronger margins and regular demand.
Main US miners are main this shift. Cipher Mining not too long ago secured a $5.5 billion AI computing cope with Amazon Net Providers, and IREN signed a $9.7 billion settlement with Microsoft for GPU-based AI companies.
As Bitcoin’s whole hashrate surpasses 1 zetahash per second (ZH/s) for the primary time, the business is more and more reworking from conventional crypto mining towards powering the broader AI and information infrastructure financial system.
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