TeraWulf AI Leasing Now 83% of Revenue as Bitcoin Mining Fades

TeraWulf, the Maryland-based digital infrastructure company, reported third-quarter high-performance-computing lease revenue of $63 million, representing 83% of its $76.2 million total revenue. The shift underscores how former Bitcoin miners are pivoting to AI data center hosting. CEO Paul Prager highlighted long-term contracts with hyperscalers, providing stable cash flow compared to volatile crypto mining. The company's Lake Mariner facility in New York now hosts NVIDIA GPUs for AI workloads. With Bitcoin mining revenue declining, TeraWulf's strategic transition positions it for the booming AI infrastructure market. This move could serve as a blueprint for other miners seeking sustainable growth.