Bitmain miner purchase agreement dated December 7, 2021
Company: TeraWulf
What the later record shows
Partly delivered · happened December 31, 2022
The 2023 10-Q says the November and December 2022 batches were cancelled and the "Second" Bitmain agreement concluded as of December 31, 2022. The Dec 7, 2021 agreement appears to be the one renumbered as Second, since the passage then describes the Dec 15 agreement as Third, but no passage ties the two together explicitly.
“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.”
2023-08-13 · TeraWulf 10-Q filed 2023-08-14 View cached copy (2026-09-13)Live source ↗
“The Company considers the Second Bitmain Purchase Agreement to be concluded as no further Bitmain miner deliveries or Company payments were due as of December 31, 2022.”
2023-08-13 · TeraWulf 10-Q filed 2023-08-14 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
TeraWulf committed to purchase miners from Bitmain for total of $32.55 million with remaining payments through November 2022
Source (primary)
TeraWulf 10-K filed 2022-03-31 (SEC EDGAR, sec_filing)
View cached copy (2026-09-13)Live source ↗
Quote: “On December 7, 2021, the Company entered into the December 7 Bitmain Agreement... Pursuant to the First Bitmain Purchase Agreement, the Company paid an initial deposit of approximately $11.4 million during the nine months ended December 31, 2021. The balance of payments due under the First Bitmain Purchase Agreement, an amount of $21.2 million, are scheduled to be paid in unequal monthly installments through November 2022.”
How we checked this
Checked on October 11, 2026. The cited source supports every part of this claim.
The contractual obligations table lists $32,550 thousand for the December 7 agreement, and the text says the balance is payable through November 2022.
Confirmed in the source:
- TeraWulf entered into a Bitmain miner purchase agreement dated December 7, 2021
- The total contractual amount of that agreement is $32.55 million
- The remaining payments are scheduled in monthly installments through November 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: “On December 7, 2021, the Company entered into the December 7 Bitmain Agreement... Pursuant to the First Bitmain Purchase Agreement, the Company paid an initial deposit of approximately $11.4 million during the nine months ended December 31, 2021. The balance of payments due under the First Bitmain Purchase Agreement, an amount of $21.2 million, are scheduled to be paid in unequal monthly installments through November 2022.”