Capex for CB-3, CB-4, CB-5 (~$3.66B)
Company: TeraWulf
The claim, verbatim
TeraWulf estimates approximately $3.66 billion of capital expenditures for CB-3, CB-4 and CB-5 (Fluidstack capex), assuming the high end of an estimated $8-10 million per MW of critical IT load.
Source (primary)
terawulf 8-K exhibit (tm2523651d1_ex99-2.htm) (SEC EDGAR (8-K Ex), press_release)
View cached copy (2026-10-06)Live source ↗
Quote: “Estimated capital expenditures for CB-3, CB-4, and CB-5; assumes high end of estimated $8-10MM per MW of critical IT load.”
How we checked this
Checked on October 7, 2026. The cited source supports every part of this claim.
The slide shows Fluidstack CapEx of ($3,660). Its footnote ties the figure to CB-3, CB-4 and CB-5 at the high end of $8-10MM per MW of critical IT load.
Confirmed in the source:
- TeraWulf shows Fluidstack CapEx of approximately $3.66 billion ($3,660 million)
- The figure is footnoted as estimated capital expenditures for CB-3, CB-4 and CB-5
- The estimate assumes the high end of an estimated $8-10 million per MW of critical IT load
What we did: Read our cached copy of SEC EDGAR (8-K Ex) (https://www.sec.gov/Archives/edgar/data/1083301/000110465925079466/tm2523651d1_ex99-2.htm) in full (2,470 characters, retrieved October 6, 2026) and checked each assertion in the claim against it.
Additional evidence
confirms terawulf 8-K exhibit (tm2523651d1_ex99-2.htm)
Quote: “Estimated capital expenditures for CB-3, CB-4, and CB-5; assumes high end of estimated $8-10MM per MW of critical IT load.”