TeraWulf (WULF) Q4 FY25 earnings call

TeraWulf completed a transformative Q4 FY25, pivoting from Bitcoin mining to a scaled, power-backed AI infrastructure platform. The company secured significant HPC lease agreements and financing, while strategically acquiring power assets and developing new brownfield sites in Kentucky and Maryland. Despite a GAAP net loss driven by non-cash adjustments and increased operating expenses for growth, the focus remains on disciplined execution to deliver contracted megawatts and recurring cash flow.