TeraWulf misses Q4 2025 estimates as Bitcoin mining revenue falls

TeraWulf’s Q4 losses hit $1.66 per share as mining revenue fell, but AI and high-performance computing contracts worth $12.8 billion set up 2026 growth.

TeraWulf, a publicly listed US digital infrastructure company, missed fourth-quarter earnings estimates as its mining revenue dropped amid falling Bitcoin prices in late 2025.

TeraWulf (WULF) released 2025 earnings on Thursday, reporting a fourth-quarter loss of $1.66 per share, compared with a loss of $0.21 per share a year earlier. Analysts surveyed by Yahoo Finance had expected a $0.16 loss.

Revenue for the quarter ended Dec. 31 totaled $35.8 million, including $26.1 million from digital assets and $9.7 million from high-performance computing (HPC), down from $50.6 million in the third quarter. Analysts had expected an average of $44.1 million.

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