Material weakness in internal control over financial reporting
Company: TeraWulf
The claim, verbatim
Management identified a material weakness in internal control over financial reporting resulting from control deficiencies that led to material misstatements in interim financial statements for periods within fiscal year ending December 31, 2022, specifically related to incorrect calculation of noncash activity impact on plant and equipment purchases and deposits in cash flow statements
Source (primary)
TeraWulf 10-K filed 2023-03-31 (SEC EDGAR, sec_filing)
View cached copy (2026-09-13)Live source ↗
Quote: “management identified a material weakness in our internal control over financial reporting... The related control deficiencies resulted in material misstatements in our previously issued interim financial statements for interim periods within the fiscal year ending December 31, 2022... incorrectly calculating the impact of noncash activity on purchase and deposits on plant and equipment”
How we checked this
Checked on September 21, 2026. The cited source supports every part of this claim.
The 10-K describes the material weakness and its cause exactly as the claim states.
Confirmed in the source:
- Management identified a material weakness in internal control over financial reporting
- Control deficiencies led to material misstatements in interim financial statements for periods within FY2022
- The issue related to incorrectly calculating the impact of noncash activity on purchase and deposits on plant and equipment in cash flow statements
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: “management identified a material weakness in our internal control over financial reporting... The related control deficiencies resulted in material misstatements in our previously issued interim financial statements for interim periods within the fiscal year ending December 31, 2022... incorrectly calculating the impact of noncash activity on purchase and deposits on plant and equipment”