August 2022 Nautilus JV amendment
Company: TeraWulf - Project: Nautilus
The claim, verbatim
TeraWulf reduced stake to 25% and secured 50 MW at 2.0 cents per kWh for five years at Nautilus facility
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 states the August 2022 amendment reduced TeraWulf's stake to 25% and secured 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 in the Nautilus facility to 25%
- The amendment right-sized TeraWulf's miners and infrastructure to enable 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”