Flash Compute senior secured notes
Company: TeraWulf
The claim, verbatim
$1.275 billion in senior secured notes at 8.0% coupon with semi-annual interest payments
Source (primary)
terawulf 8-K exhibit (tm2533501d1_ex99d1.htm) (SEC EDGAR (8-K Ex), press_release)
View cached copy (2026-09-23)Live source ↗
Quote: “Assumes $450MM Equity, $1.275Bn Senior Secured Notes... 8.0% coupon being shown for illustrative purposes, with interest payable on a semiannual basis”
How we checked this
Checked on September 26, 2026. The cited source supports part of this claim, but not all of it.
The presentation models $1.275 billion in senior secured notes with semiannual interest. It explicitly labels the 8.0% coupon as illustrative, not an actual term.
Confirmed in the source:
- The Flash Compute cash flow model assumes $1.275 billion in Senior Secured Notes
- The model shows interest payable on a semiannual basis
We could not confirm this from the cited source:
- That the notes carry an 8.0% coupon; the presentation says the 8.0% coupon is shown only for illustrative purposes
- That $1.275 billion in notes has actually been issued rather than assumed for modeling
That does not mean it is false — only that this source does not establish it, as of the date above. If we find a source that settles it, we will re-check and update this page.
What we did: Read our cached copy of SEC EDGAR (8-K Ex) (https://www.sec.gov/Archives/edgar/data/1083301/000110465925122293/tm2533501d1_ex99d1.htm) in full (12,131 characters, retrieved September 23, 2026) and checked each assertion in the claim against it.
Additional evidence
confirms terawulf 8-K exhibit (tm2533501d1_ex99d1.htm)
Quote: “Assumes $450MM Equity, $1.275Bn Senior Secured Notes... 8.0% coupon being shown for illustrative purposes, with interest payable on a semiannual basis”