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Terawulf Inc. balance sheet

At the end of fiscal 2025, Terawulf Inc. had total assets of $6.56bn, total liabilities of $6.42bn and shareholders' equity of $140m. It held $3.27bn in cash against $3.54bn of debt: net debt of $276m.

Balance sheet

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year2010Dec 20102011Dec 20112012Dec 20122013Dec 20132014Dec 20142015Dec 20152016Dec 20162017Dec 20172018Dec 20182019Dec 20192020Dec 20202022Dec 20222023Dec 20232024Dec 20242025Dec 2025LTMJun 2026
Cash and equivalents111222112141542743,2662,619
Receivables22222222222010113
Inventory22333222222—————
Total current assets8878979899814632813,4782,807
Goodwill—————————————05555
Total assets13141314151518171717153183787886,5588,048
Accounts payable01110—10———22152465198
Deferred revenue (current)—————————————0——
Total current liabilities11111111124126155521,7363,764
Short-term debt——————0000352123046—
Long-term debt——————3333—73003,052—
Total debt000000333331461394883,5423,649
Total liabilities111112544542001565436,4187,901
Shareholders' equity1213121313131313131212118222244140147
Net debt (negative = net cash)−1−1−1−2−2−22212−1145852132761,030
Shares outstanding4m4m4m4m4m4m4m4m4m4m4m——386m420m499m

Balances at each fiscal year end (quarter end in the quarterly view). Total debt is short- plus long-term borrowings, including lease debt where the company reports it within debt. Where assets do not equal liabilities plus shareholders' equity, the difference (non-controlling interests, redeemable preferred shares) is shown on its own line.

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Figures from Terawulf Inc.'s SEC filings (10-K and 10-Q), retrieved October 20, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Terawulf Inc.