TeraWulfQ1 high-performance computing revenue exceeded Bitcoin mining for the first time

On May 9, TeraWulf's high-performance computing (HPC) business exceeded its bitcoin mining revenue for the first time in the previous quarter. This change also reflects that more and more companies that originally focused on bitcoin mining are turning to AI and hyper-scale cloud infrastructure. The company announced total revenue for the first quarter of 2026 was US$34 million, which was basically the same as US$34.4 million in the same period last year. Among them, HPC rental revenue reached US$21 million, exceeding the revenue of digital assets (Bitcoin mining) by less than US$13 million. With the gradual increase in long-term computing power lease contracts, the company's HPC business is expanding rapidly.