TeraWulf's high-performance computing lease revenue jumped 52% quarter-over-quarter to $31.9 million as the segment extended its lead over the company's legacy bitcoin mining business.
HPC leasing accounted for roughly 71% of TeraWulf's $44.8 million in Q2 revenue, up from 62% in the prior quarter.
Digital asset revenue was relatively flat quarter-over-quarter at $12.8 million but down sharply compared to $47.6 million a year earlier.
"The second quarter reflects a financial profile increasingly driven by long-term, contracted HPC revenue," CFO Patrick Fleury said during the company’s earnings call Wednesday.
TeraWulf (WULF) reported a net loss attributable to shareholders of nearly $940 million, widening from $427.6 million in the first quarter.
