Why Is WULF Stock On Retail Radar Today? TeraWulf Just Flipped Its Revenue Mix – HPC Now Outearns Bitcoin Mining

Shares of TeraWulf (WULF) edged higher in early-morning trade on Friday, despite an earnings miss, after the company reported that its data center business now accounted for a larger share of revenue than its Bitcoin (BTC) mining business. 

TeraWulf had zero revenue from high-performance computing (HPC) a year ago. In the first quarter (Q1) of 2026, the company said HPC lease revenue from Core42 accounted for $21 million of its $34 million total. This means 62% of TeraWulf’s revenue now comes from its pivot toward data center infrastructure. 

Digital asset revenue, meanwhile, collapsed to $13 million from $34.4 million year-over-year (YoY). Total revenue remained flat, but beat Wall Street’s estimate of $33 million, according to Koyfin data. Loss per share of $1.01 came in worse than the $0.23 loss per share expected by analysts.

WULF’s stock dropped as much as 2.5% in pre-market trade and was among the top trending tickers on Stocktwits. Retail sentiment on the platform around the company trended in ‘bullish’ territory, accompanied by ‘high’ levels of chatter. 

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