TeraWulf's Q1 high-performance computing business revenue surpasses Bitcoin mining for the first time

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Golden Finance reports that on May 9th, TeraWulf’s high-performance computing (HPC) business surpassed its Bitcoin mining revenue for the first time in the last quarter. This shift also reflects that more and more companies originally focused on Bitcoin mining are transitioning into AI and large-scale cloud infrastructure sectors.
The company announced total revenue of $34 million for the first quarter of 2026, which is roughly the same as $34.4 million in the same period last year.
Among them, HPC leasing revenue reached $21 million, surpassing the digital asset (Bitcoin mining) revenue of less than $13 million. As long-term computing power leasing contracts gradually increase, the company’s HPC business is expanding rapidly.

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