TeraWulf Inc.
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TeraWulf Inc. - overview
Established
2021
Location
-, MD-Maryland, US
Primary Industry
Financial Services
About
Based in Maryland, US, and founded in 2021 by CEO Paul Prager, and COO and CTO Nazar Khan TeraWulf Inc. aka TeraWulf operate as a bitcoin mining company that provides domestically produced bitcoin powered by nuclear, hydro, and solar energy. In May 2026, TeraWulf Inc. raised USD 250 million in venture debt funding.
The company is listed on the NASDAQ stock exchange under the ticker symbol WULF. As of December 2022, the company employs about 6 employees and operates two bitcoin mining facility sites located in New York and Pennsylvania. In May 2026, TeraWulf Inc. raised USD 250 million in revolving credit private debt funding from Morgan Stanley Senior Funding, Inc.
who is the lead arranger with participation from issuing banks such as Banco Santander, Bank of America, Citibank, Citizens Bank, Sumitomo Mitsui Banking Corporation, TD Bank Financial Group, Wells Fargo Bank The company offers a lake mariner mining facility and a nautilus cryptomine facility for supporting crypto mining. The company's Lake mariner mining facility is a hydro-powered mining facility for energy transition like solar and hydropower with a target of 500MW of future mining capacity. Nautilus cryptomine is a partnership between TeraWulf’s nuclear mining facility subsidiary and Talen Energy Corporation, which will give zero-carbon power supply directly from the nuclear facilities with target of 50 MW of mining capacity. As of January 2023, the company generated USD 5.
47 million in revenues in the trailing twelve months. The company will use the May 2026 funding to support general corporate purposes.
Primary Industry
Financial Services
Sub Industries
Renewable Energy, Financial Services, Accounting/Finance Software
Website
www.terawulf.com
Verticals
Artificial Intelligence, Blockchain, FinTech
Total Amount Raised
Subscriber access only
TeraWulf Inc. - timeline of key events
TeraWulf Inc. - financials
| Fiscal Year Ended | Dec 31, 2014 | Dec 31, 2015 | Dec 31, 2016 | Dec 31, 2017 | Dec 31, 2018 | Dec 31, 2019 | Dec 31, 2020 | Dec 31, 2021 | Dec 31, 2022 | Dec 31, 2023 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (USD) | 18,489,837 | 17,562,066 | 17,569,901 | 17,243,244 | 18,213,653 | 17,618,559 | 13,432,220 | - | - | - |
| % Revenue Growth (YoY) | - | (5.0%) | 0.0% | (1.9%) | 5.6% | (3.3%) | (23.8%) | - | - | - |
| EBITDA (USD) | 1,574,848 | 905,386 | 772,536 | 410,533 | 1,021,138 | (273,665) | (1,087,966) | - | - | - |
| Operating Income (USD) | 913,466 | 220,818 | (22,004) | (464,609) | 225,819 | (956,676) | (1,786,020) | - | - | - |
| Operating Margin | 4.9% | 1.3% | (0.1%) | (2.7%) | 1.2% | (5.4%) | (13.3%) | - | - | - |
| % EBITDA Margin | 8.5% | 5.2% | 4.4% | 2.4% | 5.6% | (1.6%) | (8.1%) | - | - | - |
| NET Income (USD) | 648,770 | 135,007 | (65,061) | (226,147) | 139,465 | (813,558) | (439,320) | - | - | - |
| % Net Margin | 3.5% | 0.8% | (0.4%) | (1.3%) | 0.8% | (4.6%) | (3.3%) | - | - | - |
TeraWulf Inc. - deals
| Deals Type | Deal Status | Target (s) | Deal Date | Investor(s) | Seller(s) | Deal size (Mn) | Enterprise value (Mn) | Post-money valuation (Mn) | EBITDA multiple (x) | Revenue multiple (x) | Lead partner (s) |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Private Debt | Completed | TeraWulf Inc. | - | ||||||||
| Venture Debt | Completed | TeraWulf Inc. | - | ||||||||
| Venture Debt | Completed | TeraWulf Inc. | - | ||||||||
| Unspecified Round | Completed | TeraWulf Inc. | - |
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TeraWulf Inc. - employee data
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