TeraWulf Inc. (WULF)WULFTeraWulf Inc.

Cash Flow Statement

Operating, investing, and financing cash flow analysis

Quarterly Cash Flow Statement (USD)

Quarterly Report	TTM	03/31/2026	12/31/2025	09/30/2025	06/30/2025	03/31/2025	12/31/2024	09/30/2024	06/30/2024
Cash from Operations (CFO)	-197.258M	-17.591M	-88.171M	-36.686M	-54.810M	56.487M	-42.724M	-20.925M	16.381M
Net Income	-1.028B	-427.634M	-126.578M	-455.050M	-18.370M	-61.418M	-29.196M	-22.733M	-10.876M
Depreciation & Amortization	107.142M	30.348M	29.589M	27.669M	19.536M	16.259M	15.562M	15.895M	14.384M
Stock-Based Compensation	74.979M	101.418M	-32.088M	4.345M	1.304M	38.674M	16.746M	2.408M	4.842M
Change in Accounts Receivable	11.494M	5.604M	1.212M	3.506M	1.172M	0.00	0.00	0.00	0.00
Change in Inventory	—	—	—	—	—	—	—	—	—
Change in Accounts Payable	—	—	—	—	—	—	—	—	—
Change in Working Capital	-848K	23.693M	3.902M	-11.260M	-17.183M	95.912M	-5.809M	3.825M	-2.438M
Cash from Investing	—	—	—	—	—	—	—	—	—
Capital Expenditures (CapEx)	-1.489B	-522.954M	-614.990M	-231.570M	-119.942M	-93.687M	-153.633M	-20.728M	-46.600M
Acquisitions	-46.193M	0.00	-24.462M	-19.000M	-2.731M	0.00	86.086M	0.00	0.00
Cash from Financing	—	—	—	—	—	—	—	—	—
Debt Repayment	—	—	—	—	—	—	—	—	—
Stock Repurchased (Buybacks)	-100.612M	0.00	0.00	-100.612M	0.00	-33.292M	0.00	0.00	0.00
Dividends Paid	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Free Cash Flow (FCF)	-1.687B	-540.545M	-703.161M	-268.256M	-174.752M	-37.200M	-196.357M	-41.653M	-30.219M
Net Change in Cash	2.610B	-630.045M	2.745B	621.322M	-126.744M	-55.903M	250.127M	-80.171M	58.285M

Annual Cash Flow Statement (USD)

Annual Report	12/31/2025	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018
Cash from Operations (CFO)	-123.180M	-24.422M	4.263M	-34.066M	-24.099M	-399K	-477K	1.225M
Net Income	-661.416M	-72.418M	-73.421M	-90.791M	-95.683M	-439K	-814K	139K
Depreciation & Amortization	93.053M	61.181M	29.351M	6.970M	52K	698K	672K	795K
Stock-Based Compensation	50.909M	30.927M	5.859M	1.568M	0.00	13.636M	9K	14K
Change in Accounts Receivable	1.212M	0.00	0.00	0.00	0.00	0.00	2.435M	2.215M
Change in Inventory	—	—	—	—	—	—	—	—
Change in Accounts Payable	—	—	—	—	—	—	—	—
Change in Working Capital	71.371M	-10.104M	-10.609M	13.162M	11.040M	520K	-257K	236K
Cash from Investing	—	—	—	—	—	—	—	—
Capital Expenditures (CapEx)	-1.060B	-267.940M	-75.168M	-72.857M	-109.072M	-165K	-498K	-593K
Acquisitions	-10.083M	23.324M	-2.845M	-46.172M	-10.280M	18K	16K	0.00
Cash from Financing	—	—	—	—	—	—	—	—
Debt Repayment	—	—	—	—	—	—	—	—
Stock Repurchased (Buybacks)	-33.292M	-118.217M	0.00	0.00	0.00	0.00	-50K	0.00
Dividends Paid	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Free Cash Flow (FCF)	-1.183B	-292.362M	-70.905M	-106.923M	-133.171M	-564K	-975K	632K
Net Change in Cash	3.449B	219.626M	46.116M	-38.132M	42.761M	2.730M	-659K	693K

Values are displayed in USD. Negative numbers shown in red.

Values are displayed in USD. Negative numbers are shown in red.

About TeraWulf Inc.

TeraWulf Inc., together with its subsidiaries, owns, develops, operates digital infrastructure in the United States. It also develops and operates bitcoin mining facilities for bitcoin mining and high-performance computing workloads, leveraging clean, cost-effective, and reliable energy. The company was founded in 2021 and is headquartered in Easton, Maryland.

Easton, MD

141 employees

www.terawulf.com

Technology / Software - Application

Sector: Technology
Industry: Software - Application
CEO: Paul Prager

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