TeraWulf Inc. (WULF) Q2 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Greetings and welcome to the TerraWulf Second Quarter 2026 Earnings Conference Call. At this time, all participants are in listen-only mode. A question and answer session will follow the prepared remarks. Please note that this call is being recorded. I will now turn the call over to John Larkin, Senior Vice President and Director of Investor Relations with TerraWulf. Please go ahead. Good morning and welcome to TerraWulf's second quarter 2026 earnings call. Joining me today are Chairman and CEO Paul Prager, our CTO Nazar Khan, and our CFO Patrick Fleury. Before we begin, please note that our remarks today may include forward-looking statements. These statements are subject to risks and uncertainties and actual results may differ materially. Words such as Anticipate, expect, believe, intend, estimate, project, could, should, will, and similar expressions are intended to identify forward-looking statements. For discussion of these risks, please refer to our filings with the SEC, available at sec.gov and in the investor relations section of our website. We will also reference certain non-GAAP financial measures. Reconciliations to the most comparable gap measures are available in our earnings release and filings. With that, I will turn the call over to our Chairman and CEO, Paul Prager. Thanks, John, and good morning, everyone. The second quarter was defined by execution and expansion. At Lake Mariner, we converted additional contracted capacity into operating infrastructure and recurring lease revenue. At the same time, we expanded the platform through the acquisition of Muskie. Following quarter end, we executed a 401 megawatt lease with Anthropic at the Justified Data Campus and entered into an agreement to monetize our interest in the Abernathy joint venture. Taken ...