Warnock's edge over Loeffler continued to grow Wednesday morning and is now too big for the incumbent Republican senator to request a recount.

Warnock currently leads by 53,430 votes, which is a margin of 1.2% of all votes cast in the race.

ABC News projected just before 2 a.m. ET that Warnock will win.

-ABC News' Quinn Scanlan

Ossoff's edge over Perdue has grown significantly, with votes coming in from the Democratic stronghold of DeKalb County. But that margin is still within recount territory.

With 98% of the expected vote reporting, Ossoff leads with 50.2% -- 2,208,717 ballots -- while Perdue trails behind with 49.8% -- 2,192,347 ballots.

Ossoff's lead of 16,370 votes is now greater than that of President-elect Joe Biden's over President Donald Trump in Georgia (11,779 votes).

The margin is currently 0.4%, and if it remains less than 0.5%, Perdue would be entitled to request a machine recount after the results are certified.

-ABC News' Quinn Scanlan

Perdue's campaign team released a statement early Wednesday, saying the race is "exceptionally close" but that they believe the incumbent Republican senator "will be victorious."

"As we've said repeatedly over the last several weeks and as recently as this evening, this is an exceptionally close election that will require time and transparency to be certain the results are fair and accurate and the voices of Georgians are heard," the Perdue campaign said. "We will mobilize every available resource and exhaust every legal recourse to ensure all legally cast ballots are properly counted. We believe in the end, Senator Perdue will be victorious."

The race between Perdue and his Democratic challenger, Ossoff, is too close to call as votes are still being tallied.

-ABC News' Quinn Scanlan

Ossoff’s campaign manager, Ellen Foster, released a statement early Wednesday saying that when all the votes are counted, their team "fully" expects Ossoff will win his Senate runoff against Perdue.

"The outstanding vote is squarely in parts of the state where Jon’s performance has been dominant," Foster said. "We look forward to seeing the process through in the coming hours and moving ahead so Jon can start fighting for all Georgians in the U.S. Senate."

If Democrats win both Senate seats in Georgia, each party will have 50 senators, and Vice President-elect Kamala Harris will be the tie-breaking vote for Democrats in the Senate.

-ABC News' Quinn Scanlan

Sen. Mitt Romney, R-UT, suggested that Trump’s rhetoric might have stopped Republicans from winning Georgia’s Senate runoff contests. ABC News has projected a Warnock victory but has not yet projected Ossoff as the winner -- though he has garnered a significant lead.

"It turns out that telling the voters that the election is rigged is not a great way to turn out your voters," Romney told reporters Wednesday morning.

Romney brushed off questions about his flight to Washington, D.C., Tuesday night, where video shows him being heckled by possible Trump supporters.

"That's something I've gotten used to over the years,” Romney said. “That's the nature of politics today.”

-ABC News’ Allie Pecorin