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TeraWulf's Q1 high-performance computing business revenue surpasses Bitcoin mining for the first time
BlockBeats News, May 8 — TeraWulf’s high-performance computing (HPC) business first surpassed its Bitcoin mining business revenue in the previous quarter. This change also reflects that more and more companies that were originally focused on Bitcoin mining are shifting toward AI and large-scale cloud infrastructure.
The company reported total revenue of $34 million for the first quarter of 2026, which is essentially flat compared with $34.4 million in the same period last year.
Of this, HPC leasing revenue reached $21 million, exceeding digital asset (Bitcoin mining) revenue by less than $13 million. As long-term computing power leasing contracts gradually increase, the company’s HPC business is expanding rapidly.