Terawulf and IREN Bet Big on AI as Bitcoin Mining Revenue Shrinks

Despite top-line growth, Terawulf’s operating loss widened to $88.2 million in Q3 while IREN saw bitcoin mining revenue fall 88% year-over-year. Operating Losses Widen Amid Rising Costs For the third quarter of 2026, U.S. digital infrastructure provider Terawulf generated $76.2 m

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