Bitmain S19 XP miners - December 15 agreement
Company: TeraWulf
What the later record shows
Partly delivered · happened December 31, 2022
The 15,000-miner Dec 15, 2021 agreement ("Third Bitmain Purchase Agreement") had its November and December 2022 batches cancelled and was concluded as of December 31, 2022. Only part of the July–December deliveries took place.
“On December 15, 2021, the Company entered into a Non-fixed Price Sales and Purchase Agreement with Bitmain for the purchase of 15,000 S19XP miners”
2023-08-13 · TeraWulf 10-Q filed 2023-08-14 View cached copy (2026-09-13)Live source ↗
“Subsequently, the Company cancelled the November and December 2022 batches and payments previously made and credits previously applied to this agreement became available as account credits for use in new purchasing arrangements with Bitmain.”
2023-11-21 · TeraWulf 10-Q/A filed 2023-11-22 View cached copy (2026-09-13)Live source ↗
“The Company considers the Third Bitmain Purchase Agreement to be concluded as no further Bitmain miner deliveries or Company payments were due as of December 31, 2022.”
2023-11-21 · TeraWulf 10-Q/A filed 2023-11-22 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
Executed agreement with Bitmain to purchase 15,000 S19 XP pro miners for approximately $169.1 million with monthly deliveries July-December 2022
Source (primary)
TeraWulf 10-K filed 2022-03-31 (SEC EDGAR, sec_filing)
View cached copy (2026-09-13)Live source ↗
Quote: “executed a non-fixed price sales and purchase agreement (the "December 15 Bitmain Agreement"...with Bitmain to purchase 15,000 S19 XP pro miners with a hash rate of approximately 140 Th/s and power consumption of approximately 3,010 W/unit, with 2,500 units to be delivered on a monthly basis from July 2022 through December 2022...estimated aggregate purchase price of the miners under the December 15 Bitmain Agreement is approximately $169.1 million”
How we checked this
Checked on October 11, 2026. The cited source supports every part of this claim.
The 10-K describes the December 15 Bitmain Agreement with the stated quantity, price and delivery schedule.
Confirmed in the source:
- TeraWulf's subsidiary Lake Mariner executed a purchase agreement with Bitmain on December 15, 2021
- The agreement covers 15,000 S19 XP pro miners
- The estimated aggregate purchase price is approximately $169.1 million
- Deliveries of 2,500 units per month are scheduled from July 2022 through December 2022
What we did: Read our cached copy of SEC EDGAR (https://www.sec.gov/Archives/edgar/data/1083301/000110465922041168/wulf-20211231x10k.htm) in full (353,283 characters, retrieved September 13, 2026) and checked each assertion in the claim against it.
Additional evidence
confirms TeraWulf 10-K filed 2022-03-31
Quote: “executed a non-fixed price sales and purchase agreement (the "December 15 Bitmain Agreement"...with Bitmain to purchase 15,000 S19 XP pro miners with a hash rate of approximately 140 Th/s and power consumption of approximately 3,010 W/unit, with 2,500 units to be delivered on a monthly basis from July 2022 through December 2022...estimated aggregate purchase price of the miners under the December 15 Bitmain Agreement is approximately $169.1 million”