Nautilus Phase 2 mining capacity expansion
Company: TeraWulf
What the later record shows
Outcome not yet confirmed
The May 2024 10-Q restates the plan but notes no capital calls or added energy supply. Later filings describe Nautilus inclusion inconsistently, and none report the 50 MW expansion or its cancellation.
“As of the date of this Quarterly Report, no additional capital calls for expansion have been made and no additional energy supply has been procured.”
2024-05-12 · TeraWulf 10-Q filed 2024-05-13 View cached copy (2026-09-13)Live source ↗
“for the three and six months ended June 30, 2024, includes the Company’s net share of bitcoin mined at the Nautilus Cryptomine Facility”
2025-08-07 · TeraWulf 10-Q filed 2025-08-08 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
TeraWulf plans to expand mining capacity at Nautilus Cryptomine Facility by another 50 MW in 2025
Source (primary)
TeraWulf 10-K filed 2024-03-20 (SEC EDGAR, sec_filing)
View cached copy (2026-09-13)Live source ↗
Quote: “Furthermore, TeraWulf plans to expand mining capacity at the Nautilus Cryptomine Facility by another 50 MW in 2025, solidifying its position for scalable growth”
How we checked this
Checked on October 11, 2026. The cited source supports every part of this claim.
The 10-K states TeraWulf plans to expand Nautilus mining capacity by another 50 MW in 2025; the 'Phase 2' label in the subject is not used by the filing but the claim text itself makes no such assertion.
Confirmed in the source:
- TeraWulf plans to expand mining capacity at the Nautilus Cryptomine Facility by another 50 MW
- The planned Nautilus expansion is slated for 2025
What we did: Read our cached copy of SEC EDGAR (https://www.sec.gov/Archives/edgar/data/1083301/000108330124000072/wulf-20231231.htm) in full (437,251 characters, retrieved September 13, 2026) and checked each assertion in the claim against it.
Additional evidence
confirms TeraWulf 10-K filed 2024-03-20
Quote: “Furthermore, TeraWulf plans to expand mining capacity at the Nautilus Cryptomine Facility by another 50 MW in 2025, solidifying its position for scalable growth”