Bitmain miner purchase agreement dated December 15, 2021
Company: TeraWulf
What the later record shows
Partly delivered · happened December 31, 2022
Later filings say the November and December 2022 batches of the December 15, 2021 ("Third") Bitmain agreement were cancelled, and the agreement was treated as concluded as of December 31, 2022. The earlier batches were performed and the remainder was dropped rather than paid in full.
“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
TeraWulf committed to purchase miners from Bitmain for total of $169.05 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 15, 2021, the Company entered into the December 15 Bitmain Agreement... Pursuant to the Second Bitmain Purchase Agreement, the Company paid an initial deposit of approximately $59.2 million during the nine months ended December 31, 2021. The balance of payments due under the Second Bitmain Purchase Agreement, an amount of $109.9 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 $169,050 thousand for the December 15 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 15, 2021
- The total contractual amount of that agreement is $169.05 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 15, 2021, the Company entered into the December 15 Bitmain Agreement... Pursuant to the Second Bitmain Purchase Agreement, the Company paid an initial deposit of approximately $59.2 million during the nine months ended December 31, 2021. The balance of payments due under the Second Bitmain Purchase Agreement, an amount of $109.9 million, are scheduled to be paid in unequal monthly installments through November 2022.”