Terawulf annual operating expenses
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Terawulf Operating Expenses Growth & History (WULF)
Terawulf's operating expenses was $252.3M for fiscal 2025.
View full Terawulf company overviewTerawulf annual operating expenses history
| Fiscal year | Period ended | Operating expenses | Change | Growth |
|---|---|---|---|---|
| 2025 | 2025-12-31 | $252.3M | $36.0M | +16.64% |
| 2024 | 2024-12-31 | $216.3M | $117.6M | +119.23% |
| 2023 | 2023-12-31 | $98.7M | $39.9M | +67.83% |
| 2022 | 2022-12-31 | $58.8M | $15.4M | +35.44% |
| 2021 | 2021-12-31 | $43.4M | $37.7M | +662.58% |
| 2020 | 2020-12-31 | $5.7M | −$662,768 | −10.43% |
| 2019 | 2019-12-31 | $6.4M | $325,657 | +5.40% |
| 2018 | 2018-12-31 | $6.0M | −$166,946 | −2.69% |
| 2017 | 2017-12-31 | $6.2M | −$63,760 | −1.02% |
| 2016 | 2016-12-31 | $6.3M | $335,140 | +5.66% |
| 2015 | 2015-12-31 | $5.9M | $134,011 | +2.31% |
| 2014 | 2014-12-31 | $5.8M | −$227,962 | −3.79% |
| 2013 | 2013-12-31 | $6.0M | $105,762 | +1.79% |
| 2012 | 2012-12-31 | $5.9M | $228,557 | +4.02% |
| 2011 | 2011-12-31 | $5.7M | $476,361 | +9.15% |
| 2010 | 2010-12-31 | $5.2M | — | — |
Terawulf quarterly operating expenses
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| Fiscal quarter | Period ended | Operating expenses | Change | YoY change |
|---|---|---|---|---|
| Q2 2026 | 2026-06-30 | $149.4M | $86.2M | +136.26% |
| Q1 2026 | 2026-03-31 | $182.6M | $88.6M | +94.18% |
| Q4 2025 | 2025-12-31 | $41.4M | −$45.0M | −52.12% |
| Q3 2025 | 2025-09-30 | $53.6M | $10.9M | +25.38% |
| Q2 2025 | 2025-06-30 | $63.2M | $20.9M | +49.33% |
| Q1 2025 | 2025-03-31 | $94.0M | $49.3M | +110.13% |
| Q4 2024 | 2024-12-31 | $86.4M | $48.3M | +127.00% |
| Q3 2024 | 2024-09-30 | $42.8M | $14.1M | +49.32% |
| Q2 2024 | 2024-06-30 | $42.3M | $26.2M | +161.55% |
| Q1 2024 | 2024-03-31 | $44.7M | $29.0M | +184.08% |
| Q4 2023 | 2023-12-31 | $38.1M | $9.3M | +32.36% |
| Q3 2023 | 2023-09-30 | $28.6M | $16.6M | +137.57% |
| Q2 2023 | 2023-06-30 | $16.2M | $7.6M | +88.01% |
| Q1 2023 | 2023-03-31 | $15.8M | $6.4M | +68.43% |
| Q4 2022 | 2022-12-31 | $28.8M | −$3.0M | −9.50% |
| Q3 2022 | 2022-09-30 | $12.1M | $6.0M | +99.82% |
| Q2 2022 | 2022-06-30 | $8.6M | $4.3M | +101.78% |
| Q1 2022 | 2022-03-31 | $9.4M | $8.0M | +609.28% |
| Q4 2021 | 2021-12-31 | $31.8M | $30.6M | +2533.67% |
| Q3 2021 | 2021-09-30 | $6.0M | $4.9M | +440.54% |
| Q2 2021 | 2021-06-30 | $4.3M | $2.9M | +204.02% |
| Q1 2021 | 2021-03-31 | $1.3M | −$646,087 | −32.89% |
| Q4 2020 | 2020-12-31 | $1.2M | −$411,198 | −25.42% |
| Q3 2020 | 2020-09-30 | $1.1M | −$449,578 | −28.71% |
| Q2 2020 | 2020-06-30 | $1.4M | −$205,785 | −12.79% |
| Q1 2020 | 2020-03-31 | $2.0M | $403,793 | +25.87% |
| Q4 2019 | 2019-12-31 | $1.6M | $106,907 | +7.08% |
| Q3 2019 | 2019-09-30 | $1.6M | $17,111 | +1.10% |
| Q2 2019 | 2019-06-30 | $1.6M | $143,891 | +9.82% |
| Q1 2019 | 2019-03-31 | $1.6M | $57,748 | +3.84% |
| Q4 2018 | 2018-12-31 | $1.5M | $44,665 | +3.05% |
| Q3 2018 | 2018-09-30 | $1.5M | $74,619 | +5.06% |
| Q2 2018 | 2018-06-30 | $1.5M | −$112,905 | −7.15% |
| Q1 2018 | 2018-03-31 | $1.5M | −$173,325 | −10.34% |
| Q4 2017 | 2017-12-31 | $1.5M | −$195,569 | −11.77% |
| Q3 2017 | 2017-09-30 | $1.5M | −$33,640 | −2.23% |
| Q2 2017 | 2017-06-30 | $1.6M | $106,045 | +7.20% |
| Q1 2017 | 2017-03-31 | $1.7M | $59,404 | +3.67% |
| Q4 2016 | 2016-12-31 | $1.7M | $182,865 | +12.36% |
| Q3 2016 | 2016-09-30 | $1.5M | $79,501 | +5.57% |
| Q2 2016 | 2016-06-30 | $1.5M | $27,235 | +1.88% |
| Q1 2016 | 2016-03-31 | $1.6M | $45,539 | +2.90% |
| Q4 2015 | 2015-12-31 | $1.5M | $2,408 | +0.16% |
| Q3 2015 | 2015-09-30 | $1.4M | −$23,026 | −1.59% |
| Q2 2015 | 2015-06-30 | $1.4M | $27,168 | +1.92% |
| Q1 2015 | 2015-03-31 | $1.6M | $127,461 | +8.83% |
| Q4 2014 | 2014-12-31 | $1.5M | $59,452 | +4.20% |
| Q3 2014 | 2014-09-30 | $1.5M | −$28,757 | −1.94% |
| Q2 2014 | 2014-06-30 | $1.4M | −$64,576 | −4.36% |
| Q1 2014 | 2014-03-31 | $1.4M | −$194,081 | −11.85% |
| Q4 2013 | 2013-12-31 | $1.4M | −$39,811 | −2.73% |
| Q3 2013 | 2013-09-30 | $1.5M | $65,591 | +4.64% |
| Q2 2013 | 2013-06-30 | $1.5M | $43,832 | +3.05% |
| Q1 2013 | 2013-03-31 | $1.6M | $36,150 | +2.26% |
| Q4 2012 | 2012-12-31 | $1.5M | $5,830 | +0.40% |
| Q3 2012 | 2012-09-30 | $1.4M | $30,915 | +2.23% |
| Q2 2012 | 2012-06-30 | $1.4M | $33,453 | +2.38% |
| Q1 2012 | 2012-03-31 | $1.6M | $158,359 | +10.97% |
| Q4 2011 | 2011-12-31 | $1.5M | — | — |
| Q3 2011 | 2011-09-30 | $1.4M | $133,560 | +10.68% |
| Q2 2011 | 2011-06-30 | $1.4M | $78,210 | +5.89% |
| Q1 2011 | 2011-03-31 | $1.4M | — | — |
| Q3 2010 | 2010-09-30 | $1.2M | — | — |
| Q2 2010 | 2010-06-30 | $1.3M | — | — |
Terawulf operating expenses trends
Over the last five fiscal years, Terawulf's operating expenses increased from $5.7M to $252.3M, a change of $246.6M. The latest reported quarter, Q2 2026, shows $149.4M.
About the metric
What operating expenses mean
Operating expenses are the recurring costs of running a company’s business beyond the direct costs used to calculate gross profit. They commonly include selling, general and administrative expenses, research and development, and other operating costs.
Calculation and source
SEC-reported and calculated operating expenses
TickerStat uses operating expenses reported in company SEC filings when available. When a separate total is unavailable, it calculates operating expenses as aligned gross profit minus operating income for the same fiscal period. Fiscal periods can differ from calendar years, so exact period-end dates are included.
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