TeraWulf-Talen Nautilus joint venture restructuring
Company: TeraWulf - Project: Nautilus
The claim, verbatim
TeraWulf stake reduced to 25% in Nautilus with 50 MW power utilization at 2.0 cents/kWh for five years
Source (primary)
TeraWulf 10-K filed 2023-03-31 (SEC EDGAR, sec_filing)
View cached copy (2026-09-13)Live source ↗
Quote: “In August 2022, the Company and Talen amended their joint venture agreement thereby reducing TeraWulf's stake in the facility to 25% and right-sizing TeraWulf's miners and infrastructure to enable maximum utilization of 50 MW of power at approximately 2.0 cents/kWh for five years”
How we checked this
Checked on September 21, 2026. The cited source supports every part of this claim.
The document confirms the 25% stake reduction and 50 MW at 2.0 cents/kWh for five years.
Confirmed in the source:
- In August 2022, TeraWulf and Talen amended their joint venture agreement reducing TeraWulf's stake to 25%
- The agreement enables maximum utilization of 50 MW of power at approximately 2.0 cents/kWh for five years
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: “In August 2022, the Company and Talen amended their joint venture agreement thereby reducing TeraWulf's stake in the facility to 25% and right-sizing TeraWulf's miners and infrastructure to enable maximum utilization of 50 MW of power at approximately 2.0 cents/kWh for five years”