March 2023 Second A&R Nautilus agreement
Company: TeraWulf - Project: Nautilus
The claim, verbatim
TeraWulf holds 25% equity interest in Nautilus with Cumulus Coin holding 75%, subject to adjustment based on relative capital contributions
Source (primary)
TeraWulf 10-K filed 2023-03-31 (SEC EDGAR, sec_filing)
View cached copy (2026-09-13)Live source ↗
Quote: “TeraWulf (Thales) will hold a 25% equity interest in Nautilus and Cumulus Coin will hold a 75% equity interest in Nautilus, each subject to adjustment based on relative capital contributions”
How we checked this
Checked on September 21, 2026. The cited source supports every part of this claim.
The document confirms the 25%/75% split subject to adjustment based on relative capital contributions.
Confirmed in the source:
- TeraWulf holds a 25% equity interest in Nautilus and Cumulus Coin holds 75%
- Each interest is subject to adjustment based on relative capital contributions
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 (Thales) will hold a 25% equity interest in Nautilus and Cumulus Coin will hold a 75% equity interest in Nautilus, each subject to adjustment based on relative capital contributions”