TeraWulf reported generating $63 million in high-performance computing lease revenue in the third quarter, accounting for about 83% of its $76.2 million total revenue. Its operational data centre capacity at Lake Mariner stood at 102 megawatts, while another 336 megawatts were under construction. The company also announced a 20-year lease with Anthropic covering approximately 401 megawatts, representing nearly $19 billion in contracted revenue over the initial term. Although quarterly net income reached approximately $709.9 million, largely because of a non-cash change in the fair value of warrants, adjusted EBITDA was negative at $12.8 million. Initial services at the Justified site are expected to begin in late 2027 and continue through 2028.
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