Bitmain S19j XP miner purchase
Company: TeraWulf
What the later record shows
The date slipped
The 2023 10-K still calls the July 2023 Bitmain Agreement outstanding as of December 31, 2023, and says the company 'will receive' the miners. That suggests delivery was not complete when due, but no completion date or new date is given.
“As of December 31, 2023, the Company had one outstanding miner purchase agreement, with Bitmain Technologies Delaware Limited (“Bitmain Delaware”) (the “July 2023 Bitmain Agreement”).”
2024-03-19 · TeraWulf 10-K filed 2024-03-20 View cached copy (2026-09-13)Live source ↗
“The July 2023 Bitmain Agreement provides that the Company will receive 15,100 S19j XP miners from Bitmain Delaware, with an option to receive an additional 3,400 miners”
2024-03-19 · TeraWulf 10-K filed 2024-03-20 View cached copy (2026-09-13)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
TeraLease LLC will receive 15,138 S19j XP miners from Bitmain, with an option for 3,362 additional miners if payment obligations are met, for total purchase price of $75.4 million (effective $53.4 million with 30% coupon credit), for delivery in Q4 2023.
Source (primary)
TeraWulf 8-K filed 2023-07-18 (SEC EDGAR, sec_filing)
View cached copy (2026-09-13)Live source ↗
Quote: “TeraLease will receive 15,138 S19j XP miners from Bitmain, with an option to receive an additional 3,362 miners if the Company meets its payment obligations under the Agreement, for delivery in Q4 2023 for a total purchase price of $75.4 million, 30% of which the Company is entitled to apply paid-for coupons, resulting in an effective purchase price of $53.4 million for 18,500 miners.”
How we checked this
Checked on October 11, 2026. The cited source supports every part of this claim.
TeraWulf's July 2023 8-K states every element of this claim: the miner counts, the option condition, the $75.4 million total price, the 30% coupon credit that brings the effective price to $53.4 million, and Q4 2023 delivery.
Confirmed in the source:
- TeraLease LLC, a TeraWulf subsidiary, will receive 15,138 S19j XP miners from Bitmain
- TeraLease has an option to receive an additional 3,362 miners if the Company meets its payment obligations under the agreement
- The total purchase price is $75.4 million
- The Company may apply paid-for coupons to 30% of the purchase price, giving an effective price of $53.4 million
- Delivery is scheduled for Q4 2023
What we did: Read our cached copy of SEC EDGAR (https://www.sec.gov/Archives/edgar/data/1083301/000108330123000033/wulf-20230714x8k.htm) in full (8,472 characters, retrieved September 13, 2026) and checked each assertion in the claim against it.
Additional evidence
confirms TeraWulf 8-K filed 2023-07-18
Quote: “TeraLease will receive 15,138 S19j XP miners from Bitmain, with an option to receive an additional 3,362 miners if the Company meets its payment obligations under the Agreement, for delivery in Q4 2023 for a total purchase price of $75.4 million, 30% of which the Company is entitled to apply paid-for coupons, resulting in an effective purchase price of $53.4 million for 18,500 miners.”
delays TeraWulf 10-K filed 2024-03-20
Quote: “As of December 31, 2023, the Company had one outstanding miner purchase agreement, with Bitmain Technologies Delaware Limited (“Bitmain Delaware”) (the “July 2023 Bitmain Agreement”).”