Lake Mariner mining capacity expansion to Q2 2023
Company: TeraWulf - Project: Lake Mariner Anthropic AI Factory
What the later record shows
Delivered; the record does not say when
By December 31, 2023 Lake Mariner had 33,100 operational miners, near the ~34,000 target, and by March 31, 2024 it had 160 MW energized. No passage states the capacity reached at June 30, 2023, so on-time delivery cannot be confirmed.
“comprised of 33,100 operational miners at the Lake Mariner Facility (including 4,800 hosted miners)”
2024-03-21 · TeraWulf S-3/A filed 2024-03-22 View cached copy (2026-09-13)Live source ↗
“as of March 31, 2024, the Company has energized three buildings and additional infrastructure comprising 160 MW of capacity”
2024-05-12 · TeraWulf 10-Q filed 2024-05-13 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
TeraWulf expects to reach 110 MW of mining capacity at Lake Mariner Facility, representing approximately 34,000 miners, in Q2 2023 pending Building 2 construction completion.
Source (primary)
TeraWulf 10-K filed 2023-03-31 (SEC EDGAR, sec_filing)
View cached copy (2026-09-13)Live source ↗
Quote: “TeraWulf expects to reach 110 MW of mining capacity at the facility, representing approximately 34,000 miners, in the second quarter of 2023 pending the completion of construction of Building 2”
How we checked this
Checked on October 11, 2026. The cited source supports every part of this claim.
The Lake Mariner section of the 10-K states this expectation, including the dependence on finishing Building 2.
Confirmed in the source:
- TeraWulf expects to reach 110 MW of mining capacity at the Lake Mariner Facility
- The 110 MW represents approximately 34,000 miners
- The target timing is the second quarter of 2023
- The target depends on completing construction of Building 2
What we did: Read our cached copy of SEC EDGAR (https://www.sec.gov/Archives/edgar/data/1083301/000155837023005301/wulf-20221231x10k.htm) in full (569,235 characters, retrieved September 13, 2026) and checked each assertion in the claim against it.
Additional evidence
confirms TeraWulf 10-K filed 2023-03-31
Quote: “TeraWulf expects to reach 110 MW of mining capacity at the facility, representing approximately 34,000 miners, in the second quarter of 2023 pending the completion of construction of Building 2”
confirms TeraWulf 10-Q filed 2024-05-13
Quote: “as of March 31, 2024, the Company has energized three buildings and additional infrastructure comprising 160 MW of capacity”
confirms TeraWulf S-3/A filed 2024-03-22
Quote: “comprised of 33,100 operational miners at the Lake Mariner Facility (including 4,800 hosted miners)”