Nautilus capacity increase option exercise
Company: TeraWulf - Project: Nautilus
What the later record shows
Not a promise: a reported event · happened February 28, 2024
The claim reports an option exercise that had already happened on February 28, 2024. Later filings note the 50 MW expansion itself had not occurred as of September 30, 2024.
“In February 2024, the Company exercised its election to expand the energy requirements of the Nautilus Cryptomine Facility by an additional 50 MW.”
2024-05-12 · TeraWulf 10-Q filed 2024-05-13 View cached copy (2026-09-13)Live source ↗
“The expansion of energy requirements of the Nautilus Cryptomine Facility had not occurred as of September 30, 2024.”
2024-11-11 · TeraWulf 10-Q filed 2024-11-12 View cached copy (2026-08-31)Live source ↗
Checked October 9, 2026 against filings, releases and reporting published after the claim was made. Quotes are verbatim from the linked documents.
The claim, verbatim
On February 28, 2024, Company exercised option to increase energy requirement at Nautilus by 50 MW for total of 100 MW capacity
Source (primary)
TeraWulf S-3/A filed 2024-03-22 (SEC EDGAR, sec_filing)
View cached copy (2026-09-13)Live source ↗
Quote: “On February 28, 2024, the Company exercised its option to increase its energy requirement at the Nautilus Cryptomine Facility by an incremental 50 MW at its own cost (for a total of 100 MW of bitcoin mining capacity attributable to TeraWulf).”
How we checked this
Checked on October 11, 2026. The cited source supports every part of this claim.
The filing states that on February 28, 2024, TeraWulf exercised its option to add 50 MW at Nautilus at its own cost, for a total of 100 MW of mining capacity attributable to the company.
Confirmed in the source:
- On February 28, 2024, TeraWulf exercised an option at the Nautilus Cryptomine Facility
- The option increased TeraWulf's energy requirement at Nautilus by an incremental 50 MW
- The increase brought TeraWulf's total attributable bitcoin mining capacity at Nautilus to 100 MW
What we did: Read our cached copy of SEC EDGAR (https://www.sec.gov/Archives/edgar/data/1083301/000108330124000079/terawulfincs-3a4tobefiled.htm) in full (100,343 characters, retrieved September 13, 2026) and checked each assertion in the claim against it.
Additional evidence
confirms TeraWulf S-3/A filed 2024-03-22
Quote: “On February 28, 2024, the Company exercised its option to increase its energy requirement at the Nautilus Cryptomine Facility by an incremental 50 MW at its own cost (for a total of 100 MW of bitcoin mining capacity attributable to TeraWulf).”