Transition services agreement with Beowulf E&D
Company: TeraWulf - Project: Nautilus
What the later record shows
Delivered; the record does not say when
The 2024 proxy reports that Nautilus paid $367,707 net in FY2023 under the Transition Services Agreement, which covers the $339,200 fee plus expenses. It does not give exact payment dates against the June 30, 2023 term.
“For fiscal year 2023, Nautilus has paid $367,707, net and expects to make payments of approximately $18,086 pursuant to the Beowulf E&D Transition Services Agreement.”
2024-03-07 · TeraWulf PRE 14A filed 2024-03-08 View cached copy (2026-09-13)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
Beowulf E&D will provide transition services to Nautilus until June 30, 2023 in exchange for payment of $339,200 plus reimbursement of out-of-pocket expenses
Source (primary)
TeraWulf 8-K filed 2023-03-24 (SEC EDGAR, sec_filing)
View cached copy (2026-09-13)Live source ↗
Quote: “Beowulf E&D shall provide such transition services to Nautilus until June 30, 2023 in exchange for payment by Nautilus of $339,200 and reimbursement of out of pocket expenses.”
How we checked this
Checked on October 11, 2026. The cited source supports every part of this claim.
The 8-K states that Beowulf E&D provides transition services to Nautilus until June 30, 2023 in exchange for $339,200 paid by Nautilus plus reimbursement of out-of-pocket expenses.
Confirmed in the source:
- Beowulf E&D will provide transition services to Nautilus until June 30, 2023
- Nautilus will pay Beowulf E&D $339,200 for the transition services
- Nautilus will also reimburse Beowulf E&D's out-of-pocket expenses
What we did: Read our cached copy of SEC EDGAR (https://www.sec.gov/Archives/edgar/data/1083301/000155837023004594/wulf-20230323x8k.htm) in full (7,977 characters, retrieved September 13, 2026) and checked each assertion in the claim against it.
Additional evidence
confirms TeraWulf 8-K filed 2023-03-24
Quote: “Beowulf E&D shall provide such transition services to Nautilus until June 30, 2023 in exchange for payment by Nautilus of $339,200 and reimbursement of out of pocket expenses.”
confirms TeraWulf PRE 14A filed 2024-03-08
Quote: “For fiscal year 2023, Nautilus has paid $367,707, net and expects to make payments of approximately $18,086 pursuant to the Beowulf E&D Transition Services Agreement.”