TeraWulf sees about half of contracted IT capacity earning revenue by end of Q1

On its third-quarter call, the company said it expects to receive an incremental $150 million from the sale of its Abernathy joint venture on or before December 31, 2026, and another approximately $130 million on or before April 30, 2027, subject to the terms of the transaction.

CFO Patrick Fleury said the company currently estimates total Lake Mariner project costs at approximately $8.9 million per megawatt, within its original $8 million to $10 million per critical IT megawatt guidance range.

Quotes from the call

“By the end of Q1, we expect approximately half of our contracted critical IT capacity to be operating and generating revenue. And we expect to exit the quarter with approximately $700 million of annualized run rate leasing revenue.”

“We also expect to receive an incremental $150 million from the sale of the Abernathy JV on or before December 31, 2026, and another approximately $130 million on or before April 30, 2027, subject to the terms of the transaction.”