EXHIBIT 99.1

TeraWulf Inc. (“TeraWulf,” “Parent,” or the “Company”) filed its annual report on Form 10-K for the fiscal year ended December 31, 2025 (the “Annual Report”) which is available on the Company’s website at www.investors.terawulf.com.

The consolidating schedules as of and for the year ended December 31, 2025 are presented for the purpose of meeting the requirements in Section 4.09(b) of the 2030 Secured Notes Indenture. For the purpose of these schedules, “WULF Compute and Subsidiaries” refers to WULF Compute LLC and its wholly-owned subsidiaries La Lupa Data LLC, Akela Data Holdings LLC and Akela Data LLC. “TeraWulf Inc. Unconsolidated” refers to Parent and all other wholly-owned subsidiaries outside of WULF Compute and Subsidiaries.

TERAWULF INC. AND SUBSIDIARIES

CONSOLIDATING SCHEDULE — BALANCE SHEET INFORMATION

AS OF DECEMBER 31, 2025

(In thousands; unaudited)

	TeraWulf Inc. Consolidated		WULF Compute and Subsidiaries		TeraWulf Inc. Unconsolidated		Explanation of TeraWulf Inc. Unconsolidated
ASSETS
CURRENT ASSETS:
Cash and cash equivalents	$	3,266,389	$	2,755,443	$	510,946
Restricted cash		189,933		189,933		—
Accounts receivable		1,212		915		297
Digital currency		270		—		270
Prepaid expenses		6,272		4,054		2,218
Other receivables		3,395		—		3,395
Other current assets		10,802		10,709		93
Total current assets		3,478,273		2,961,054		517,219
Property, plant and equipment, net		1,507,699		1,240,620		267,079	PP&E related to Digital Asset Mining segment and HPC Leasing new developments not related to WULF Compute
Equity in net assets of investee		446,008		—		446,008	Investment in Abernathy Joint Venture
Goodwill		55,457		—		55,457	Goodwill from acquisition of Beowulf E&D
Operating lease right-of-use asset		103,975		48,603		55,372	Operating lease ROU assets of Parent corporate offices and lease related to the Digital Asset Mining segment
Finance lease right-of-use asset		119,338		4,042		115,296	Finance lease ROU assets related to the Digital Asset Mining segment and the Cayuga Lease
Restricted cash	$	266,453	$	265,000	$	1,453
Deferred charges	$	572,888	$	572,888	$	—
Other assets	$	8,091	$	6,357	$	1,734
TOTAL ASSETS	$	6,558,182	$	5,098,564	$	1,459,618

LIABILITIES AND STOCKHOLDERS' EQUITY
CURRENT LIABILITIES:
Accounts payable	$	65,139		$	54,500		$	10,639		Accounts payable of Parent related to Digital Asset Mining segment
Accrued construction liabilities		102,582			102,361			221
Accrued compensation		1,717			—			1,717
Accrued interest		52,775			46,844			5,931		Accrued interest on Parent convertible notes
Accrued lessor costs		27,625			27,625			—
Other accrued liabilities		44,828			61,326			(16,498	)	Intercompany receivable of TeraWulf from WULF Compute and Subsidiaries related to the Management Services Agreement
Other amounts due to related parties		200			—			200
Current portion of deferred rent liability		58,184			58,184			—
Current portion of operating lease liability		2,015			16			1,999		Operating lease liability of Parent corporate offices
Current portion of finance lease liability		2			1			1
Current portion of warrant liabilities		844,698			—			844,698		Fair value of Google Warrants
Current portion of long-term debt		46,316			46,316			—
Current portion of convertible notes		489,767			—			489,767		2030 Convertible Notes, net of unamortized debt issuance costs
Total current liabilities		1,735,848			397,173			1,338,675
Deferred rent liability, net of current portion		23,285			23,285			—
Operating lease liability, net of current portion		22,309			1,979			20,330		Operating lease liability of Parent corporate offices
Finance lease liability, net of current portion		289			168			121
Long-term debt		3,052,240			3,052,240			—
Convertible notes		1,582,788			—			1,582,788		2031 Convertible Notes and 2032 Convertible Notes, net of unamortized debt issuance costs
Deferred tax liabilities, net		76			—			76
Other liabilities		902			—			902
TOTAL LIABILITIES		6,417,737			3,474,845			2,942,892

STOCKHOLDERS' EQUITY:
Common stock		444			—			444
Additional paid-in capital		1,285,202			1,632,895			(347,693	)
Treasury stock		(151,509	)		—			(151,509	)	Shares of Parent’s Common Stock repurchased under share repurchase program
Accumulated deficit		(993,692	)		(9,176	)		(984,516	)
Total stockholders' equity		140,445			1,623,719			(1,483,274	)
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$	6,558,182		$	5,098,564		$	1,459,618

TERAWULF INC. AND SUBSIDIARIES

CONSOLIDATING SCHEDULE — STATEMENT OF OPERATIONS INFORMATION

FOR THE YEAR ENDED DECEMBER 31, 2025

(In thousands; unaudited)

	Year Ended December 31, 2025
	TeraWulf Inc. Consolidated			WULF Compute and Subsidiaries			TeraWulf Inc. Unconsolidated			Explanation of TeraWulf Inc. Unconsolidated
Revenue
Digital asset revenue	$	151,556		$	—		$	151,556		Revenue related to Digital Asset Mining segment
HPC lease revenue		16,899			16,899			—
Total revenue		168,455			16,899			151,556

Costs and expenses:
Cost of revenue (exclusive of depreciation shown below)		82,663			2,464			80,199		Cost of revenue related to Digital Asset Mining segment
Operating expenses		12,115			2,995			9,120		Operating expenses related to the Digital Asset Mining segment and HPC Leasing new developments not related to WULF Compute
Operating expenses — related party		7,632			1,682			5,950		Operating expenses — related party related to the Digital Asset Mining segment and HPC Leasing new developments not related to WULF Compute
Selling, general and administrative expenses		139,465			2,064			137,401		General corporate SG&A expense
Selling, general and administrative expenses — related party		8,292			304			7,988		General corporate SG&A — related party expense
Depreciation		88,597			2,654			85,943		Depreciation of PP&E related to Digital Asset Mining segment
Loss on fair value of digital currency, net		612			—			612
Change in fair value of contingent consideration		10,397			—			10,397		Change in fair value of contingent consideration from acquisition of Beowulf E&D
Loss on disposals of property, plant, and equipment, net		4,895			—			4,895		Loss on disposal of miners related to Digital Asset Mining segment
Total costs and expenses		354,668			12,163			342,505

Operating (loss) income		(186,213	)		4,736			(190,949	)
Interest expense		(80,248	)		(44,386	)		(35,862	)	Interest expense incurred related to the 2030/2031/2032 Convertible Notes
Change in fair value of warrants and derivatives		(429,793	)		—			(429,793	)	Change in fair value of Google Warrants and conversion feature of 2031 Convertible Notes

Interest income		39,044			30,788			8,256		Interest income from cash and cash equivalents of Parent
Loss before income tax and equity in net loss of investee		(657,210	)		(8,862	)		(648,348	)
Income tax provision		(76	)		—			(76	)
Equity in net loss of investee, net of tax		(4,130	)		—			(4,130	)	Equity in net loss of Abernathy Joint Venture
Loss from continuing operations		(661,416	)		(8,862	)		(652,554	)
Loss from discontinued operations, net of tax		—			—			—
Net loss	$	(661,416	)	$	(8,862	)	$	(652,554	)