TeraWulf jumps after Q1 results, HPC lease ramp, and $250M revolver closure

TeraWulf posted its first-quarter 2026 financial results in a 7:00 AM EDT release and held an earnings call at 8:00 AM EDT. The company framed the quarter as continued execution in its transition toward recurring, contracted HPC revenue and provided operational/development updates across its campuses. (investors.terawulf.com)

The release reported Q1 2026 revenue of $34.0 million, including $21.0 million of HPC lease revenue, and noted approximately $3.1 billion of cash and restricted cash at quarter-end. Operationally, it cited 60 MW of energized critical IT capacity for Core42 at Lake Mariner as of March 31, 2026, and said CB-3 construction was nearing completion with energization aligned to customer hardware deployment, while CB-4 and CB-5 remained on schedule for delivery and rent commencement in 2026. (investors.terawulf.com)

In the same May 8 release, TeraWulf said it closed a revolving credit facility providing up to $250 million of committed capacity, which can be viewed as a same-day financing catalyst alongside earnings. The company also reiterated its strategy targeting 250–500 MW of new contracted capacity annually and highlighted its power-advantaged development pipeline, including the Hawesville, Kentucky site with immediate access to 480 MW of grid-connected power. (investors.terawulf.com)