Nautilus Facility expansion option
Company: TeraWulf - Project: Nautilus
What the later record shows
Outcome not yet confirmed · happened October 2, 2024
TeraWulf exercised the 50 MW option on February 28, 2024, but the added capacity had not come online by September 30, 2024. On October 2, 2024 TeraWulf sold its entire Nautilus stake, so the 100 MW attributable capacity never materialized.
“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”
2024-03-07 · TeraWulf S-3/A filed 2024-03-08 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 ↗
“On October 2, 2024, the Company sold its entire 25% equity interest in Nautilus Cryptomine LLC”
2025-03-02 · TeraWulf 10-K filed 2025-03-03 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
Company has option to increase Nautilus allocation from 50 MW to 100 MW by May 13, 2024
Source (primary)
TeraWulf S-3/A filed 2024-01-16 (SEC EDGAR, sec_filing)
View cached copy (2026-09-13)Live source ↗
Quote: “Prior to May 13, 2024, the Company has an 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 TeraWulf has an allotted 50 MW at Nautilus and, prior to May 13, 2024, an option to add an incremental 50 MW at its own cost for a total of 100 MW.
Confirmed in the source:
- TeraWulf currently has an allotted 50 MW of bitcoin mining capacity at the Nautilus Cryptomine Facility
- TeraWulf has an option to increase its energy requirement at Nautilus by an incremental 50 MW, for a total of 100 MW attributable to TeraWulf
- The option must be exercised prior to May 13, 2024
What we did: Read our cached copy of SEC EDGAR (https://www.sec.gov/Archives/edgar/data/1083301/000108330124000027/terawulfincs-3a2x1x16x24.htm) in full (99,376 characters, retrieved September 13, 2026) and checked each assertion in the claim against it.
Additional evidence
confirms TeraWulf S-3/A filed 2024-01-16
Quote: “Prior to May 13, 2024, the Company has an 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).”