TeraWulf HPC leasing revenue jumps 52%, overtaking bitcoin mining

TeraWulf posted $44.8 million in Q2 revenue, with HPC leasing accounting for roughly 71% of that total, up from 62% the prior quarter. HPC leasing revenue surged 52% quarter-over-quarter, while bitcoin mining's share of total revenue continued to shrink. The company is clearly pivoting away from cryptocurrency mining toward data centre and AI compute services.