Technology
TeraWulf pivoted to HPC data center leasing in Q2 FY2026, with HPC generating 71% of revenue, but net losses widened dramatically due to one-time charges and heavy buildout spending, while post-quarter deals with Anthropic and the Abernathy divestiture highlighted its infrastructure ambitions and capital recycling.
Key risk: New York Data Center Permitting Moratorium
In July 2026, New York’s Executive Order No. 62 imposed a temporary pause on permitting for certain data center projects, which could delay or increase costs for the Cayuga Site development, though the company does not currently expect material impact on its timeline.