The latest financial statement is for the year ending 2025-12-31.
| Cash Flow | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| Net loss | -661,416 | -72,418 | -73,421 | -90,791 |
| Amortization of debt issuance costs, commitment fees and accretion of debt discount | 22,181 | 11,382 | 19,515 | 11,676 |
| Related party expense to be settled with respect to common stock | 2,375 | 0 | 2,917 | 2,083 |
| Common stock issued for interest expense | 0 | 0 | 26 | 82 |
| Stock-based compensation expense | 50,909 | 30,927 | 5,859 | 1,568 |
| Depreciation | 88,597 | 59,808 | 28,350 | 6,667 |
| Amortization of right-of-use asset | 4,456 | 1,373 | 1,001 | 303 |
| Revenue recognized from digital asset mining and hosting services | 151,556 | 139,278 | - | - |
| Loss (gain) on fair value of digital assets, net | -612 | 2,200 | - | - |
| Realized gain on sale of digital assets | 0 | 0 | - | - |
| Increase in digital currency from mining | - | - | 63,877 | 10,810 |
| Impairment of digital assets | 0 | 0 | - | - |
| Impairment of digital currency | - | - | 3,043 | 1,457 |
| Proceeds from sale of digital assets | 0 | 97,559 | - | - |
| Realized gain on sale of digital currency | - | - | 3,174 | 569 |
| Digital assets paid as consideration for services | 0 | 370 | - | - |
| Proceeds from sale of digital currency | - | - | 83,902 | 9,739 |
| Change in fair value of contingent consideration | 10,397 | - | - | - |
| Loss on disposals of property, plant, and equipment, net | -4,895 | -17,824 | -1,209 | - |
| Loss on nonmonetary miner exchange | - | 0 | 0 | -804 |
| Change in fair value of warrants and derivatives | -429,793 | - | - | - |
| Loss on extinguishment of debt | 0 | -6,300 | 0 | -2,054 |
| Deferred income tax benefit | - | - | - | -256 |
| Deferred income tax provision | 76 | 0 | 0 | - |
| Equity in net loss (income) of investee, net of tax | -4,130 | 3,363 | -9,290 | -15,712 |
| Gain on sale of equity interest in investee | 0 | 22,602 | - | - |
| Loss from discontinued operations, net of tax | 0 | 0 | -129 | -4,857 |
| Increase in accounts receivable | 914 | - | - | - |
| (increase) decrease in prepaid expenses | 6,592 | -2,047 | -555 | 3,601 |
| Decrease in amounts due from related parties | - | 0 | 0 | -815 |
| Decrease (increase) in other receivables | -459 | 2,774 | 1,001 | - |
| (increase) decrease in other current assets | 10,672 | -288 | 215 | 46 |
| Increase in deferred charges | 57,407 | - | - | - |
| (increase) decrease in other assets | 832 | 466 | -310 | 994 |
| (decrease) increase in accounts payable | -3,238 | 740 | -7,272 | 10,197 |
| Increase in accrued lessor costs | 27,625 | - | - | - |
| Increase (decrease) in accrued compensation and other accrued liabilities | 43,217 | 694 | -931 | 5,916 |
| (decrease) increase in other amounts due to related parties | -565 | 480 | -2,013 | 700 |
| Increase in deferred rent liability | 81,469 | - | - | - |
| Decrease in operating lease liability | -781 | -11,113 | -42 | 175 |
| Decrease in other liabilities | -398 | - | - | - |
| Net cash (used in) provided by operating activities from continuing operations | -123,180 | -24,422 | 4,160 | -32,262 |
| Net cash provided by operating activities from discontinued operations | 0 | 0 | 103 | -1,804 |
| Net cash (used in) provided by operating activities | -123,180 | -24,422 | 4,263 | -34,066 |
| Investments in joint venture, including direct payments made on behalf of joint venture | 450,000 | 0 | 2,845 | 46,172 |
| Reimbursable payments for deposits on plant and equipment made on behalf of a joint venture or joint venture partner | - | 0 | 0 | 11,741 |
| Reimbursement of payments for deposits on plant and equipment made on behalf of a joint venture or joint venture partner | - | 0 | 0 | 11,716 |
| Proceeds from sale of equity interest in investee | 0 | 86,086 | - | - |
| Purchase of and deposits on plant and equipment | 1,060,189 | 267,940 | 75,168 | 61,116 |
| Proceeds from sales of property, plant and equipment | 11,648 | 23,324 | - | - |
| Proceeds from sale of net assets held for sale | - | 0 | 0 | - |
| Acquisitions, net of cash acquired | 21,731 | - | - | - |
| Proceeds from sale of net assets held for sale | - | - | - | 13,266 |
| Proceeds from sale of digital assets | 151,327 | 67,371 | - | - |
| Net cash used in investing activities | -1,368,945 | -91,159 | -78,013 | -94,047 |
| Proceeds from issuance of long-term debt, net of issuance costs paid of 67,062, 0 and 0 | 3,132,938 | 0 | 0 | 22,462 |
| Principal payments on long-term debt | 0 | 139,401 | 6,599 | - |
| Payments of prepayment fees associated with early extinguishment of long-term debt | 0 | 1,261 | - | - |
| Principal payments on finance lease | 9,159 | 941 | - | - |
| Proceeds from insurance premium and property, plant and equipment financing | 0 | 211 | 2,513 | 7,041 |
| Principal payments on insurance premium and property, plant and equipment financing | 0 | 2,103 | 2,738 | 4,924 |
| Proceeds from issuance of promissory notes to stockholders | - | 0 | 0 | 3,416 |
| Payment for settlement of preferred stock conversion | 12 | - | - | - |
| Proceeds from issuance of common stock, net of issuance costs paid of 0, 663 and 1,051 | 0 | 188,715 | 135,917 | 47,326 |
| Proceeds from exercise of warrants | 5,686 | 4,808 | 2,500 | 5,700 |
| Purchase of capped call | 100,600 | 60,000 | - | - |
| Purchase of treasury stock | 33,292 | 118,217 | - | - |
| Payments of tax withholding related to net share settlements of stock-based compensation awards | 28,481 | 23,654 | 2,013 | - |
| Proceeds from issuance of preferred stock | - | 0 | 0 | 9,566 |
| Proceeds from issuance of convertible notes, net of issuance costs paid of 12,950, 0, and 0 | - | 487,050 | - | - |
| Proceeds from issuance of convertible notes, net of issuance costs paid of 51,246, 12,950, and 0 | 1,973,755 | - | - | - |
| Proceeds from issuance of convertible promissory note | 0 | 0 | 1,250 | 14,700 |
| Principal payments on convertible promissory note | - | 0 | 0 | 15,306 |
| Payment of contingent value rights liability related to proceeds from sale of net assets held for sale | 0 | 0 | 10,964 | - |
| Net cash provided by financing activities | 4,940,835 | 335,207 | 119,866 | 89,981 |
| Net change in cash, cash equivalents and restricted cash | 3,448,710 | 219,626 | 46,116 | -38,132 |
| Cash, cash equivalents and restricted cash at beginning of year | 274,065 | 54,439 | 8,323 | 46,455 |
| Cash, cash equivalents and restricted cash at end of year | 3,722,775 | 274,065 | 54,439 | 8,323 |
TERAWULF INC. (WULF)
TERAWULF INC. (WULF)