v3.26.1
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Jun. 30, 2026
Dec. 31, 2025
CURRENT ASSETS:    
Cash and cash equivalents $ 2,619,191 $ 3,266,389
Restricted cash 142,938 189,933
Accounts receivable 13,202 1,212
Digital assets 133 270
Prepaid expenses 18,314 6,272
Other current assets 12,726 14,197
Total current assets 2,806,504 3,478,273
Property, plant and equipment, net 3,600,191 1,507,699
Equity in net assets of investee 424,062 446,008
Goodwill 55,457 55,457
Operating lease right-of-use asset 101,754 103,975
Finance lease right-of-use asset 117,814 119,338
Restricted cash 266,479 266,453
Deferred charges 572,599 572,888
Restricted trust investments 20,607 0
Other assets 82,928 8,091
TOTAL ASSETS 8,048,395 6,558,182
CURRENT LIABILITIES:    
Accounts payable 197,812 65,139
Accrued construction liabilities 287,461 102,582
Accrued interest 57,292 52,775
Current portion of deferred rent liability 49,682 58,184
Current portion of operating lease liability 2,102 2,015
Current portion of finance lease liability 2 2
Warrant liabilities 1,816,690 844,698
Total current liabilities 3,763,871 1,735,848
Deferred rent liability, net of current portion 944 23,285
Operating lease liability, net of current portion 21,220 22,309
Finance lease liability, net of current portion 288 289
Deferred tax liabilities 132 76
Other liabilities 93,994 902
TOTAL LIABILITIES 7,900,867 6,417,737
Commitments and Contingencies (See Note 12)
EQUITY:    
Preferred stock, $0.001 par value, 100,000,000 authorized at June 30, 2026 and December 31, 2025; none issued and outstanding at June 30, 2026 and December 31, 2025; aggregate liquidation preference of $0 at June 30, 2026 and December 31, 2025 0 0
Common stock, $0.001 par value, 950,000,000 authorized at June 30, 2026 and December 31, 2025; 522,901,181 and 444,534,694 issued at June 30, 2026 and December 31, 2025, respectively; 498,932,431 and 420,065,944 outstanding at June 30, 2026 and December 31, 2025, respectively 523 444
Additional paid-in capital 2,656,313 1,285,202
Treasury stock at cost, 23,968,750 and 24,468,750 at June 30, 2026 and December 31, 2025, respectively (148,309) (151,509)
Accumulated deficit (2,361,243) (993,692)
Total TeraWulf Inc. stockholders' equity 147,284 140,445
Noncontrolling interests 244 0
Total equity 147,528 140,445
TOTAL LIABILITIES AND EQUITY $ 8,048,395 $ 6,558,182
Treasury stock at cost (in shares) 23,968,750 24,468,750
Senior Notes    
CURRENT LIABILITIES:    
Current portion of long-term debt, Short-term convertible notes $ 90,718 $ 46,316
Long-term debt, convertible notes 3,019,335 3,052,240
Convertible Debt    
CURRENT LIABILITIES:    
Current portion of long-term debt, Short-term convertible notes 1,101,976 489,767
Long-term debt, convertible notes 1,001,083 1,582,788
Nonrelated Party    
CURRENT LIABILITIES:    
Other current liabilities, other amounts 159,472 74,170
Related Party    
CURRENT LIABILITIES:    
Other current liabilities, other amounts $ 664 $ 200

Source

10-Q XBRL Zip