Crypto mining firm TeraWulf reported Q2 revenue of $44.8 million and reached a roughly $19 billion leasing agreement with Anthropic.

Bitcoin mining firm TeraWulf released its Q2 2026 financial report, posting total revenue of $44.8 million, with high-performance computing (HPC) leasing revenue accounting for $31.9 million, or roughly 71% of the total. The company holds approximately $3 billion in cash and restricted cash, providing ample liquidity for ongoing projects and future expansion. On the operational front, Lake Mariner had 81 megawatts (MW) of revenue-generating critical IT capacity as of June 30. Following the delivery of CB-3 in early July, this capacity rose to 102 MW, while meeting the terms of its $600 million credit support obligation for Google’s Fluidstack leasing agreement. Additionally, CB-4 and CB-5, totaling 336 MW, are under construction. The first data hall of CB-4 has entered the commissioning phase, with phased delivery and commencement of leasing expected in the second half of 2026. CB-5 is targeted for phased delivery starting in early 2027, with construction costs remaining within the guidance range of $8 million to $10 million per MW. TeraWulf also disclosed several major strategic developments: it secured a roughly $19 billion leasing deal with Anthropic via Kentucky’s Justified campus, and acquired the gigawatt-scale Muskie data center campus. The company has signed a power service and related infrastructure agreement with Kentucky Power for up to 1 GW, further strengthening its power resource reserves. Furthermore, TeraWulf agreed to sell its stake in the Abernathy joint venture for approximately $530 million, and reaffirmed its annual target of locking in incremental critical IT capacity of 250 MW to 500 MW via contracts. TeraWulf is undergoing a full transformation from a pure Bitcoin mining operation to an infrastructure platform centered on AI data center leasing.