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Terawulf Inc. cash flow statement

In fiscal 2025, Terawulf Inc.'s operations generated −$123m of cash; it spent $1.06bn on capital projects, leaving free cash flow of −$1.18bn. It returned $33.3m through buybacks.

Cash flow statement

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 from operations211111101−0−0−344−24−123−279
Depreciation and amortisation000111111117286089104
Stock-based pay00000000000263151196
Capital spending0111032010061752681,0602,225
Free cash flow10110−1−1−01−1−1−95−71−292−1,183−2,504
Free cash flow after stock pay10110−1−1−01−1−1−97−77−323−1,234−2,700
Dividends paid——2—————————————
Share buybacks00—————0—0—00118330
Shares issued———————————4713618901,200

Free cash flow is cash from operations minus capital spending. Free cash flow after stock pay also subtracts stock-based compensation, a real cost to shareholders that the cash flow statement adds back. Dividends, buybacks and shares issued are cash amounts for the period.

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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.