TeraWulf Ownership

Who are the major shareholders and have insiders been buying or selling?

Recent Insider Transactions

NasdaqCM:WULF Recent Insider Transactions by Companies or Individuals
Date	Value	Name	Entity	Shares	Max Price
19 Sep 25	SellUS$584,215	Catherine Motz	Individual	52,942	US$11.04
15 Aug 25	SellUS$39,744	Amanda Fabiano	Individual	4,600	US$8.64
18 Jun 25	SellUS$83,033	Catherine Motz	Individual	21,182	US$3.92
27 Jan 25	BuyUS$19,999	Michael Bucella	Individual	4,796	US$4.17

Insider Trading Volume

Insider Buying: WULF insiders have only sold shares in the past 3 months.

Ownership Breakdown

What is the ownership structure of WULF?
Owner Type	Number of Shares	Ownership Percentage
Individual Insiders	58,053,422	14.2%
Private Companies	62,693,987	15.4%
General Public	69,731,247	17.1%
Institutions	217,465,501	53.3%

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.

Top Shareholders

Top 25 shareholders own 63.02% of the company

Ownership	Name	Shares	Current Value	Change %	Portfolio %
9.72%	Heorot Power Holdings LLC	39,659,688	US$472.7m	87.9%	no data
6.42%	Nazar Khan	26,207,768	US$312.4m	1.38%	no data
6.06%	BlackRock, Inc.	24,712,022	US$294.6m	1.96%	no data
5.84%	The Vanguard Group, Inc.	23,805,577	US$283.8m	-0.31%	no data
4.47%	Baystreet Capital Corp	18,238,719	US$217.4m	-8.01%	no data
4.18%	Lauren O’Rourke	17,060,622	US$203.4m	-4.63%	no data
3.5%	Bank of America Corporation	14,266,682	US$170.1m	22.6%	0.04%
2.04%	Geode Capital Management, LLC	8,332,853	US$99.3m	-0.92%	0.01%
2%	Morgan Stanley	8,142,127	US$97.1m	61.8%	0.01%
1.91%	Van Eck Associates Corporation	7,773,184	US$92.7m	15.6%	0.07%
1.8%	State Street Global Advisors, Inc.	7,349,484	US$87.6m	-0.92%	no data
1.36%	Two Sigma Investments, LP	5,552,167	US$66.2m	200%	0.11%
1.29%	UBS Asset Management AG	5,270,580	US$62.8m	26.5%	no data
1.29%	Scoggin Capital Management LLC	5,250,000	US$62.6m	23.5%	19.78%
1.18%	Beowulf Electricity & Data Inc	4,795,580	US$57.2m	0%	no data
1.16%	Paul Prager	4,734,280	US$56.4m	35.6%	no data
1.13%	Nomura Holdings, Inc.	4,628,351	US$55.2m	-2.86%	0.16%
1.1%	Kerri Langlais	4,478,597	US$53.4m	1.76%	no data
1.09%	Millennium Management LLC	4,445,128	US$53.0m	81%	0.04%
1.05%	The Goldman Sachs Group, Inc.	4,278,140	US$51.0m	2.83%	0.02%
1%	Hodges Capital Management Inc	4,062,480	US$48.4m	13.8%	4.22%
0.98%	Patrick Fleury	4,001,750	US$47.7m	5.17%	no data
0.98%	Jane Street Group, LLC	3,991,398	US$47.6m	0%	0.1%
0.82%	Driehaus Capital Management LLC	3,354,503	US$40.0m	-73.7%	0.21%
0.66%	Paloma Partners Management Company	2,695,461	US$32.1m	0%	1.97%

Company Analysis and Financial Data Status

Data	Last Updated (UTC time)
Company Analysis	2025/10/06 16:07
End of Day Share Price	2025/10/06 00:00
Earnings	2025/06/30
Annual Earnings	2024/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

Package	Data	Timeframe	Example US Source ^*
Company Financials	10 years	Income statement Cash flow statement Balance sheet	SEC Form 10-K SEC Form 10-Q
Analyst Consensus Estimates	+3 years	Forecast financials Analyst price targets	Analyst Research Reports Blue Matrix
Market Prices	30 years	Stock prices Dividends, Splits and Actions	ICE Market Data SEC Form S-1
Ownership	10 years	Top shareholders Insider trading	SEC Form 4 SEC Form 13D
Management	10 years	Leadership team Board of directors	SEC Form 10-K SEC Form DEF 14A
Key Developments	10 years	Company announcements	SEC Form 8-K

^* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

TeraWulf Inc. is covered by 15 analysts. 12 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

Analyst	Institution
Martin Toner	ATB Capital Markets
Nicholas Giles	B. Riley Securities, Inc.
Brett Knoblauch	Cantor Fitzgerald & Co.