TeraWulf posts $76.2 million Q3 revenue as AI leases outgrow Bitcoin mining

High-performance computing leases made up about 83% of the quarter's sales, and the company reaffirmed its annual capacity growth target TeraWulf reported $76.2 million in third-quarter revenue and reaffirmed its fiscal 2026 guidance for capacity growth. The Nasdaq-listed company (WULF) disclosed the results on November 6, 2026. Where the $76.2 million came from High-performance computing (HPC) leases brought in approximately $63.0 million during the quarter. That works out to roughly 83% of total revenue. Digital asset revenue came to $13.2 million. Most of it came from Bitcoin mining at the company’s Lake Mariner facility. The quarter’s bottom line looked dramatic. Net income reached approximately $709.9 million, which is far larger than the revenue that generated it. That gap comes largely from non-cash adjustments. Those are accounting entries that move reported profit without moving actual cash, so the figure says little about how the core business is performing day to day. TeraWulf’s market capitalization stood at approximately $5.8 billion as of early November 2026. The capacity pipeline behind the guidance The guidance TeraWulf reaffirmed is about megawatts, not dollars. Th...