Justin Sun: Li Lin Once Concealed Due Diligence Materials, I Lent the Company $30 Million to Fill the Gap

Bitcoin mining company TeraWulf has released its third-quarter 2026 financial report. The company recorded $76.2 million in revenue for the quarter, with high-performance computing (HPC) leasing revenue hitting $63 million, accounting for roughly 83%. Net profit stood at approximately $709.9 million, boosted by non-cash changes in the fair value of stock warrants. Non-GAAP adjusted EBITDA was negative $12.8 million. As of September 30, the Lake Mariner campus had 102 MW of critical IT capacity in operation, with an additional 336 MW under construction. CB-4 is expected to be phased delivered in the fourth quarter and start collecting rent, while CB-5 is projected to begin phased delivery in early 2027. At quarter-end, the company’s total cash, cash equivalents and restricted cash stood at around $2.4 billion. The company also disclosed it has signed a 20-year lease with Anthropic for roughly 401 MW of critical IT capacity, with initial contract revenue of approximately $19 billion, and secured credit support from Google for financing of the related proposed project. Facilities at the Justified campus are expected to reach operational status in phases from the end of 2027 to the second quarter of 2028.

FxPro’s Chief Market Strategist Alex Kuptsikevich said that weighed down by concerns over tech stocks, global risk appetite has declined, leading the U.S. dollar to find support and rebound. Investors’ worries about the future of artificial intelligence have prompted them to sell off equities and shift to safe-haven assets. Previously, investors primarily allocated funds to safe-haven assets such as U.S. Treasuries, gold, the Japanese yen, and the Swiss franc; now the U.S. dollar has also come into favor.

US President Trump posted on Truth Social: "As president, I fully support Super Intelligence (SI) and will work with multiple US states that hope to get rich from it." Trump likened Super Intelligence to a "gold mine," saying only foolish leadership would reject the wealth it brings.

According to U.S. media reports, the Democratic Party secured a historic victory in the midterm elections, but that does not guarantee it an easy win in the 2028 presidential election. Democratic insiders have quickly turned their attention to what could be the most unpredictable and contentious presidential primary in decades. Per tradition, the conclusion of midterm elections signals the informal start of the next presidential campaign cycle. In the coming weeks, multiple Democratic organizations will host rallies to deliberate on the party’s future direction and effective strategies for 2028. Several Democrats have already begun laying the groundwork for potential runs, including hiring staff, traveling to early primary voting states, and meeting with donors. While the Democrats dealt a heavy blow to the Republicans in Tuesday’s elections and are riding high, the upcoming vote is likely to expose internal rifts within the party over issues such as its policy direction and how to attract voter support. No Democrat has yet emerged as a clear front-runner, and the final number of candidates could exceed a dozen. Whoever becomes the Democratic presidential nominee will face a political environment distinct from the current one, and likely more challenging.

U.S. stock index futures rebounded after sharp volatility, following the Democrats’ victory in the midterm elections and full control of Congress, which triggered a sharp sell-off in the U.S. spot equity market the previous trading day. Daniel Murray, deputy chief investment officer at EFG Asset Management, said the prudent approach now is to prepare for continued sector rotation and sustained high market volatility. He advised investors to objectively review their portfolio allocations based on fundamentals, and avoid falling prey to market sentiment and panic. Stephan Kemper, chief investment officer at BNP Paribas Wealth Management Germany, said the core question the market needs to address now is whether tech stocks have become investable assets or a value trap. He noted that tech stock valuations are now far below their long-term averages, while earnings expectations have not seen significant downward revisions, which favors the former view. Greg Boland, market strategist at New Zealand-based Moomoo, said the current rebound appears more like buying the dip and short covering, rather than a fundamental shift in market sentiment. The more pressing question remains whether the massive investments in AI infrastructure will actually translate into the earnings and cash flows investors had anticipated.

U.S. stock markets saw a sell-off, revealing a sobering reality: the artificial intelligence (AI) industry is now shaping the direction of the entire financial market and even the macroeconomy. The prospect that newly elected Democratic lawmakers may slow data center construction was enough to trigger a sharp plunge in U.S. stocks this week. This trend is not hard to fathom. As of November 3, since OpenAI launched ChatGPT, the total market capitalization of the S&P 500 has risen by nearly $32 trillion, with more than half of that growth coming from just 10 AI-related companies. Currently, around 44% of U.S. pension holdings, or $610 billion, are linked to the tech sector. Moreover, AI’s impact extends far beyond the tech industry itself. Power generation firms, turbine manufacturers, uranium miners, and numerous other enterprises have closely tied their development to the AI boom, and their stock prices now move in tandem with the trends of the entire AI industrial chain.