Nautilus Cryptomine Facility expansion potential
Company: TeraWulf - Project: Nautilus
What the later record shows
The date slipped · new target February 28, 2025
Cumulus/Talen's up-to-100 MW expansion right was restructured with a window running twelve months after TeraWulf's February 28, 2024 election. No expansion had happened by September 30, 2024.
“the Talen Member may, within twelve months of the Company’s election, elect to expand the energy requirement of the Nautilus Cryptomine Facility by up to an additional 50 MW”
2024-05-12 · TeraWulf 10-Q filed 2024-05-13 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 ↗
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
Nautilus Cryptomine facility will initially require 200 MW with potential for Cumulus Coin to expand energy requirement by up to 100 MW prior to May 13, 2024
Source (primary)
TeraWulf 10-K filed 2023-03-31 (SEC EDGAR, sec_filing)
View cached copy (2026-09-13)Live source ↗
Quote: “the Nautilus Cryptomine facility will initially require 200 MW of electric capacity, and the Cumulus Coin may elect to expand the energy requirement by up to 100 MW, funded solely by the Cumulus Coin, prior to May 13, 2024”
How we checked this
Checked on October 11, 2026. The cited source supports every part of this claim.
The 10-K's description of the Second A&R Talen Joint Venture Agreement states these terms.
Confirmed in the source:
- Under the Second A&R joint venture agreement, the Nautilus Cryptomine facility will initially require 200 MW of electric capacity
- Cumulus Coin may elect to expand the energy requirement by up to 100 MW
- That expansion must be elected before May 13, 2024
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: “the Nautilus Cryptomine facility will initially require 200 MW of electric capacity, and the Cumulus Coin may elect to expand the energy requirement by up to 100 MW, funded solely by the Cumulus Coin, prior to May 13, 2024”
delays TeraWulf 10-Q filed 2024-11-12
Quote: “The expansion of energy requirements of the Nautilus Cryptomine Facility had not occurred as of September 30, 2024.”
delays TeraWulf 10-Q filed 2024-05-13
Quote: “the Talen Member may, within twelve months of the Company’s election, elect to expand the energy requirement of the Nautilus Cryptomine Facility by up to an additional 50 MW”