Nautilus expansion option
Company: TeraWulf - Project: Nautilus
What the later record shows
Outcome not yet confirmed · happened October 2, 2024
The option was exercised on February 28, 2024, but the 50 MW expansion had not occurred by September 30, 2024. TeraWulf then sold its Nautilus interest on October 2, 2024.
“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 capacity by incremental 50 MW by May 13, 2024
Source (primary)
TeraWulf S-3/A filed 2023-12-01 (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”
How we checked this
Checked on October 11, 2026. The cited source supports every part of this claim.
The prospectus says that before May 13, 2024, TeraWulf may increase its energy requirement at Nautilus by an incremental 50 MW at its own cost. That would bring TeraWulf's attributable bitcoin mining capacity to 100 MW.
Confirmed in the source:
- TeraWulf holds an option to increase its capacity at the Nautilus Cryptomine Facility by an incremental 50 MW
- The option must be exercised before May 13, 2024
What we did: Read our cached copy of SEC EDGAR (https://www.sec.gov/Archives/edgar/data/1083301/000162828023040459/terawulfincs-3a.htm) in full (96,895 characters, retrieved September 13, 2026) and checked each assertion in the claim against it.
Additional evidence
confirms TeraWulf S-3/A filed 2023-12-01
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”