Nautilus expansion option deadline
Company: TeraWulf - Project: Nautilus
What the later record shows
The date slipped · new target February 28, 2025
Cumulus/Talen's expansion right was moved to within twelve months of TeraWulf's February 28, 2024 election. No expansion had occurred as of 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
Cumulus Coin may elect to expand Nautilus energy requirement by up to 100 MW prior to May 13, 2024, funded solely by Cumulus Coin
Source (primary)
TeraWulf 10-K filed 2023-03-31 (SEC EDGAR, sec_filing)
View cached copy (2026-09-13)Live source ↗
Quote: “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, for a total capacity of 300 MW”
How we checked this
Checked on October 11, 2026. The cited source supports every part of this claim.
The filing's description of the March 2023 second amended joint venture agreement states these expansion terms directly.
Confirmed in the source:
- Under the Second A&R Talen Joint Venture Agreement, Cumulus Coin may elect to expand the Nautilus energy requirement by up to 100 MW
- Any expansion would be funded solely by Cumulus Coin
- The election must be made prior to May 13, 2024
- Total capacity after expansion would be 300 MW
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 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, for a total capacity of 300 MW”
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”