TeraWulf's mining revenue drops 69% as AI data-centre leasing takes over
Miner TeraWulf reported third-quarter bitcoin mining revenue of $13.2 million, down about 69% year on year, while high-performance computing lease income jumped to roughly $63 million and made up 83% of its $76.2 million total. A $728 million non-cash derivative gain pushed net income to about $710 million despite a wider operating loss. Its Kentucky lease with Anthropic covers around 401 MW over 20 years.