TeraWulf (WULF) missed its Q4 2025 earnings estimates. Due to the sharp drop in Bitcoin prices, mining revenue declined, reporting a 1,66 dollar loss per share; this was significantly worse than the analyst expectation of a 0,16 dollar loss. Quarterly revenue fell to 35,8 million dollars (expectation 44,1 million dollars), of which 26,1 million from digital assets and 9,7 million from high-performance computing (HPC). Full-year revenue rose from 140,1 million dollars in 2024 to 168,5 million dollars.
Source: TeraWulf
TeraWulf’s Q4 2025 Financial Table
The company’s Q4 performance remained weak due to the dominant impact of BTC mining. The table below summarizes the key metrics:
| Metric | Actual | Expectation |
|---|---|---|
| Loss Per Share (EPS) | -1,66 USD | -0,16 USD |
| Quarterly Revenue | 35,8 M USD | 44,1 M USD |
| Digital Asset Revenue | 26,1 M USD | – |
| HPC Revenue | 9,7 M USD | – |
Impact of Bitcoin Price Drop on Mining Costs
Bitcoin price fell from 125.000 dollars in October 2025 to 60.000 dollars in February 2026; currently at 67.993 USD level (%-0,28 24h change). TeraWulf’s mining cost exceeded 87.310 USD, eroding profitability. BTC PERP contract rose %8,40 from the 62.401 USD low, turning the weekly candle positive, but the overall downtrend continues (RSI 42,76, Supertrend bearish).
TeraWulf’s 2026 Vision with HPC and AI Contracts
The company targets 12,8 billion dollars in signed AI/HPC contracts for 2026. CEO Paul Prager said, “We are entering 2026 with 522 MW contracted HPC capacity and a 2,9 GW platform.” This is a strategic pivot reducing mining dependency.
Capacity Expansion: New Sites and Gigawatt Target
Capacity will increase by 1,5 GW with Kentucky (MISO) and Maryland (PJM) sites, reaching a total of 2,8 GW. This expansion will strengthen integrated HPC operations with BTC detailed analysis.
BTC Technical Levels and Miner Risk
EMA 20: 69.082 USD. Strong supports:
- S1: 67.808 USD (72/100 ⭐, -0,22% distance)
- S2: 64.323 USD (69/100 ⭐, -5,35%)
Resistances:
- R1: 68.882 USD (82/100 ⭐, +1,36%)
- R2: 78.917 USD (67/100 ⭐, +16,13%)
If S1 breaks, additional pressure increases for miners. BTC futures should be monitored.
Miners’ Transformation to AI/HPC and Sector Examples
GD Culture Group (GDC) is using its 7.500 BTC reserves for share buybacks, while companies like TeraWulf are shifting to HPC. This trend provides protection against BTC volatility.
Source: https://en.coinotag.com/terawulf-missed-q4-earnings-btc-decline-and-hpc-transformation
