For the second quarter of 2026, analysts expect TeraWulf to report consensus revenue of $46.02 million and an EPS of -$0.19, with the stock currently trading at $18.80 relative to an average analyst price target of $38.39.
The key story for investors is the company’s strategic transition from Bitcoin mining to High-Performance Computing (HPC) and AI infrastructure, specifically following its massive 20-year lease agreement with Anthropic.
Shareholders are closely monitoring the sequential growth of HPC hosting revenue, which already accounted for 60% of total revenue in the first quarter of 2026. Management has indicated that this quarter could represent a major inflection point as the company targets its first operating profit and expands capacity at its Lake Mariner and Kentucky sites.