Feed / WULF

TeraWulf Inc.

WULF

Financial Services · 16.13 -5.8% today

Isolated · not yet confirmedMarket checked 10 Sept, 15:55 GMT-4

Market read

TeraWulf Inc.'s current read is isolated; its market group is not confirming.

No new filing conclusion is available. 0 of 26 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 9 directly disclosed connections are confirming.

Company-5.8% todayVolume comparison unavailable
Market group0 of 26 activeHigh-Beta Growth · unavailable
Disclosed network0 of 8 confirmingNo filing-linked name is confirming now
What would change this read
  • Monitor realized cost of power at Lake Mariner, which the filing reports turned net-negative during sustained low temperatures due to demand response proceeds.

Invalidation: The isolated read changes if WULF's group or a disclosed connection begins moving with it.

Watch this read

Research brief

The story so far

Financial Services · Capital Markets

No new filing conclusion is available. 0 of 26 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 9 directly disclosed connections are confirming.

Evidence that supports

No thresholded supportive filing evidence is available yet.

Evidence that challenges

No thresholded adverse filing evidence is available yet.

What would clarify the read
  • Monitor realized cost of power at Lake Mariner, which the filing reports turned net-negative during sustained low temperatures due to demand response proceeds.

Company research

Understand the business, not just the ticker

As of Sep 11, 2026
Brokerage and capital-markets earnings model

For brokers and capital-markets platforms, the key question is how client activity, interest rates, customer balances, margin lending and market conditions translate into earnings and capital needs.

Key research questions
  • Can client and activity growth offset pressure from lower rates or weaker trading volumes?
  • Are customer balances, margin lending and credit conditions changing the risk profile?
  • Does the valuation reflect a durable earnings model or unusually favorable market conditions?
Annual periods8
Price observations327
Usable filing statements108
Verified relationships10
Evidence supporting the case
  • Latest annual revenue changed +20.3% year over year.
Evidence challenging the case
  • Operating margin changed -56.1 percentage points in the latest annual period.
  • Net margin changed -340.9 percentage points in the latest annual period.
  • Diluted shares increased 13.2% in the latest annual period.
Questions before a position
  • EV/sales is 317% above the available filing-peer median; determine whether growth and quality justify the difference.
Longer-term price context

Price as of Sep 10, 2026

16.13
6m+5.9%12m+56.6%24m
Annual trajectory

Reported annual revenue and per-share history. This is accounting history, not a forecast.

PeriodRevenueYoYDiluted EPSShare change
2020-12-31$13.4M-23.8%$-0.22-0.2%
2022-12-31$15.0M+11.9%$-0.82
2023-12-31$69.2M+360.5%$-0.35
2024-12-31$140.1M+102.3%$-0.21
2025-12-31$168.5M+20.3%$-1.66+13.2%

What management says matters

Persistent and emerging business drivers

Demand and volumemixed · 5 filings
During the six months ended June 30, 2026, there were significant curtailment periods for the Company’s bitcoin mining operations due to sustained low temperatures throughout the Northeastern United States which led to significantly reduced power consumption…
10-Q · Aug 5, 2026

Valuation discipline

Descriptive valuation snapshot

Price/sales 38.1× · EV/sales 36.8×. Comparisons use only industry-matched filing peers.

Scenario scaffold

Scenarios are withheld for Financial Services until sector-specific earnings and capital metrics are available; generic revenue/P/S scaffolds would be misleading.

Price action

How the market is pricing the story

16.13-5.8% today

Jodie does not have enough daily observations to draw a useful short-term chart for this asset. The latest quoted price was checked 10 Sept, 15:55 GMT-4; this is a coverage limitation, not a flat-price conclusion.

Developments

No sourced recent-development timeline yet

Jodie has not returned a relevant primary source or news item for WULF. This is an evidence-coverage gap, not a conclusion that nothing material happened.

Business and financial condition

Reported financial figures are not available yet

Jodie has not returned structured SEC XBRL fundamentals for this asset. This is a coverage limitation, not an assessment of the business or its financial health.

Filing analysis

No comparable filing assessment is available yet

Jodie has not yet found a suitable current-versus-prior filing comparison for WULF. This does not mean the latest filing was neutral or immaterial.

Business ecosystem

The relationships behind WULF

Customers, suppliers, partners and competitors named in company filings—not inferred from headlines.

Depends on

TLNTalen Energy CorporationpartnerFeb 27, 2026

The Nautilus Cryptomine Facility Located in Berwick, Pennsylvania, Nautilus was a joint venture between TeraWulf and Talen Member.

TLNTalen Energy CorporationinvesteeNov 10, 2025

On October 2, 2024, the Company sold its entire 25% equity interest in Nautilus to the Talen Member.

Depended on by

CORZCore Scientific, Inc.competitorMar 2, 2026

Additionally, we compete with other digital asset miners who have signed contracts with AI / HPC customers to convert existing digital mining facilities into HDC facilities including: • Applied Digital Corporation; • Cipher Mining Inc.; • Galaxy Digital; • Hu…

Filing peers

Companies whose filings use similar operating language.

Open the three relationships above to see Jodie’s filing proof. Pro unlocks 13 more links, every receipt, and alerts when connected names begin moving. Unlock the full network →

What is moving around it

Live connections

WULF is currently a Follower in the organic co-movement group High-Beta Growth. This group is discovered from market behaviour rather than assigned from an industry taxonomy. 3 filing-linked names are in the relationship map; none is currently confirmed as moving with the group.

Context history

Theme membership history

No durable theme membership has been observed for this name yet.