← TERAWULF INC.
| Annual Trend | FY 2016 | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ASSETS | |||||||||||
| Current assets: | |||||||||||
| Cash and Cash Equivalents, at Carrying Value | $1.0m | $930k | $1.6m | $964k | $3.7m | $6.3m | $1.3m | $54.4m | $274.1m | $3.3b | |
| Prepaid Expense and Other Assets, Current | $362k | $168k | $375k | $907k | $126k | — | — | — | — | — | |
| Short-term Investments | $3.2m | $2.9m | $2.7m | $2.2m | $0 | — | — | — | — | — | |
| Prepaid expenses | — | — | — | — | — | $1.5m | $5.1m | $4.5m | $2.5m | $6.3m | |
| Other receivables | — | — | — | — | — | — | $0 | $1.0m | $3.8m | $3.4m | |
| Other current assets | — | — | — | — | — | $108k | $543k | $806k | $598k | $10.8m | |
| Inventory, Net | $2.0m | $2.1m | $2.0m | $2.2m | $1.6m | — | — | — | — | — | |
| Assets, Current | $9.0m | $8.3m | $9.0m | $8.7m | $7.8m | $6.3m | $14.1m | $62.6m | $281.4m | $3.5b | |
| Total current assets | $9.0m | $8.3m | $9.0m | $8.7m | $7.8m | $68.1m | $14.1m | $62.6m | $281.4m | $3.5b | |
| Property, Plant and Equipment, Net | $8.9m | $8.3m | $8.1m | $7.9m | $7.4m | $91.4m | $191.5m | $205.3m | $411.9m | $1.5b | |
| Goodwill | — | — | — | — | — | — | — | — | $0 | $55.5m | |
| Operating Lease, Right-of-Use Asset | — | — | — | — | — | $1.0m | $11.9m | $10.9m | $85.9m | $104.0m | |
| Other Assets, Noncurrent | — | — | — | — | — | $109k | $1.3m | $679k | $1.0m | $8.1m | |
| Finance lease right-of-use asset | — | — | — | — | — | — | — | $0 | $7.3m | $119.3m | |
| Additional Financial Items | |||||||||||
| Accounts Receivable, after Allowance for Credit Loss, Current | $2.3m | $2.2m | $2.2m | $2.4m | $2.1m | — | — | — | $475k | $1.2m | |
| Restricted cash | — | — | — | — | — | $3.0m | $7.0m | $0 | $0 | $266.5m | |
| Digital assets | — | — | — | — | — | — | — | $1.8m | $476k | $270k | |
| Equity in net assets of investee | — | — | — | — | — | $104.3m | $98.7m | $98.6m | $0 | $446.0m | |
| Deferred charges | — | — | — | — | — | — | — | — | $0 | $572.9m | |
| Other amounts due to related parties | — | — | — | — | — | $60k | $3.3m | $972k | $1.4m | $200k | |
| Current portion of deferred rent liability | — | — | — | — | — | — | — | — | $0 | $58.2m | |
| Current portion of finance lease liability | — | — | — | — | — | — | — | $0 | $2k | $2k | |
| Warrant liabilities | — | — | — | — | — | — | — | — | $0 | $844.7m | |
| Short-term convertible notes | — | — | — | — | — | — | — | — | $0 | $489.8m | |
| Deferred rent liability, net of current portion | — | — | — | — | — | — | — | — | $0 | $23.3m | |
| Finance lease liability, net of current portion | — | — | — | — | — | — | — | $0 | $292k | $289k | |
| Convertible notes | — | — | — | — | — | — | — | $0 | $487.5m | $1.6b | |
| Assets | $18.3m | $16.9m | $17.4m | $16.9m | $15.4m | $30.0m | $317.7m | $378.1m | $787.5m | $6.6b | |
| LIABILITIES AND EQUITY | |||||||||||
| TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY | $18.3m | $16.9m | $17.4m | $16.9m | $15.4m | $264.9m | $317.7m | $378.1m | $787.5m | $6.6b | |
| Current liabilities: | |||||||||||
| Operating Lease, Liability, Current | — | — | — | — | — | — | $42k | $48k | $25k | $2.0m | |
| Accounts Payable, Current | $730k | $322k | $648k | $762k | $460k | $38k | $21.9m | $15.2m | $24.4m | $65.1m | |
| Operating Lease, Liability, Noncurrent | — | — | — | — | — | — | $947k | $899k | $3.4m | $22.3m | |
| Long-term Debt, Current Maturities | $127k | $131k | $129k | $133k | $2.7m | — | $51.9m | $123.5m | $0 | $46.3m | |
| Long-term Debt, Excluding Current Maturities | $3.1m | $2.9m | $2.8m | $2.7m | — | $94.6m | $73.0m | $56k | $0 | $3.1b | |
| Accrued construction liabilities | — | — | — | — | — | $3.9m | $2.9m | $1.5m | $16.5m | $102.6m | |
| Accrued compensation | $389k | $361k | $367k | $382k | $280k | — | — | $4.4m | $4.6m | $1.7m | |
| Accrued interest | — | — | — | — | — | — | — | — | $2.6m | $52.8m | |
| Accrued lessor costs | — | — | — | — | — | — | — | — | $0 | $27.6m | |
| Other accrued liabilities | $67k | $62k | $160k | $657k | $168k | $3.8m | $15.0m | $9.2m | $5.0m | $44.8m | |
| Current portion of operating lease liability | — | — | — | — | — | $88k | $42k | $48k | $25k | $2.0m | |
| Current portion of long-term debt | — | $131k | $129k | $133k | $2.7m | — | $51.9m | $123.5m | $0 | $46.3m | |
| Operating lease liability, net of current portion | — | — | — | — | — | $992k | $947k | $899k | $3.4m | $22.3m | |
| Liabilities, Current | $1.3m | $876k | $1.3m | $1.9m | $3.6m | $1.7m | $126.0m | $154.7m | $51.8m | $1.7b | |
| Total current liabilities | $1.3m | $876k | $1.3m | $1.9m | $3.6m | $45.9m | $126.0m | $154.7m | $51.8m | $1.7b | |
| Deferred Income Tax Liabilities, Net | — | — | — | — | — | — | — | — | — | $76k | |
| Other Liabilities, Noncurrent | — | — | — | — | — | — | — | — | $0 | $902k | |
| Deferred Tax Liabilities, Net | $446k | $144k | $183k | — | — | — | — | $0 | $0 | $76k | |
| Liabilities | $4.8m | $4.0m | $4.3m | $4.6m | $3.6m | $1.7m | $199.9m | $155.6m | $543.1m | $6.4b | |
| Stockholders’ equity: | |||||||||||
| Preferred Stock, Value, Issued | — | — | — | — | — | — | $9.3m | $9.3m | $9.3m | $0 | |
| Common Stock, Value, Issued | $202k | $198k | $198k | $198k | $198k | $50k | $145k | $277k | $404k | $444k | |
| Additional Paid in Capital | $2.7m | $2.7m | $2.7m | $2.7m | $2.7m | $29.9m | $294.8m | $472.8m | $685.3m | $1.3b | |
| Retained Earnings (Accumulated Deficit) | $10.5m | $10.1m | $10.2m | $9.3m | $8.9m | ($1.7m) | ($186.5m) | ($259.9m) | ($332.3m) | ($993.7m) | |
| Preferred stock, $0.001 par value, 100,000,000 authorized at December 31, 2025 and 2024; 0 and 9,566 shares issued and outstanding at December 31, 2025 and 2024, respectively; aggregate liquidation preference of $0 and $12,609 at December 31, 2025 and 2024, respectively | — | — | — | — | — | — | 9.3m | 9.3m | 9.3m | 0 | |
| Common stock, $0.001 par value, 950,000,000 and 600,000,000 authorized at December 31, 2025 and 2024, respectively; 444,534,694 and 404,223,028 issued at December 31, 2025 and 2024, respectively; 420,065,944 and 385,654,278 outstanding at December 31, 2025 and 2024, respectively | $202k | $198k | $198k | $198k | $198k | $100k | $145k | $277k | $404k | $444k | |
| Treasury stock at cost, 24,468,750 and 18,568,750 at December 31, 2025 and 2024, respectively | — | — | — | — | — | — | — | $0 | ($118.2m) | ($151.5m) | |
| Stockholders' Equity Attributable to Parent | $13.5m | $13.0m | $13.1m | $12.3m | $11.8m | $28.3m | $117.8m | $222.5m | $244.4m | $140.4m | |
| Total stockholders' equity | $13.5m | $13.0m | $13.1m | $12.3m | $11.8m | $123.2m | $117.8m | $222.5m | $244.4m | $140.4m | |
| Liabilities and Equity | $18.3m | $16.9m | $17.4m | $16.9m | $15.4m | $30.0m | $317.7m | $378.1m | $787.5m | $6.6b |
Values abbreviated: b = billions, m = millions, k = thousands. Per share data in USD.