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TeraWulf Reports (WULF) 522 MW Lease Agreements, $12.8B in Contracted Revenue

TeraWulf Inc. (NASDAQ:WULF) is one of the most buzzing stocks to buy with the highest upside potential. On February 26, TeraWulf reported Q4 and full-year 2025 results. In 2025, the company transitioned its primary focus from digital asset mining to HPC and AI infrastructure. TeraWulf executed long-term lease agreements for 522 critical IT MW, securing over $12.8 billion in contracted revenue through the end of the decade. This shift is highlighted by major partnerships at its Lake Mariner and Abernathy campuses, including credit-enhanced contracts involving Google and Fluidstack, which provide significant long-term cash flow visibility and revenue durability.

TeraWulf is expanding its physical footprint, with the Lake Mariner Data Campus in New York and the Abernathy HPC Campus in Texas serving as core regional hubs. At Lake Mariner, several building phases are underway or operational, including the 168 MW CB4 and CB5 facilities expected to be energized in H2 2026. Furthermore, the company supported its development pipeline through planned acquisitions in Kentucky and Maryland, increasing its total potential platform capacity to ~2.9 GW. This pipeline is designed to support the annual delivery of 250 to 500 MW of critical IT capacity to meet the AI demand.

Photo by David McBee on Pexels

For 2025, TeraWulf Inc. (NASDAQ:WULF) reported total revenue of $168.5 million. To fund its massive infrastructure buildout, the company completed a comprehensive capital-formation strategy, securing ~$6.5 billion in long-term financing. While digital asset revenue saw a decrease in Q4 due to lower bitcoin production and pricing, HPC lease revenue began to scale, reaching $9.7 million.

TeraWulf Inc. (NASDAQ:WULF), together with its subsidiaries, owns, develops, and operates digital infrastructure in the US. It also develops and operates bitcoin mining facilities for bitcoin mining and HPC workloads, using clean, cost-effective, and reliable energy.

While we acknowledge the risk and potential of WULF as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than WULF and that has 10,000% upside potential, check out our report about this cheapest AI stock.

READ NEXT: 33 Stocks That Should Double in 3 Years and 15 Stocks That Will Make You Rich in 10 Years

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