Net cash YE 2025E
Company: TeraWulf
What the later record shows
Outcome not yet confirmed
The year-end 2025 balance sheet shows $3.27 billion in cash, but the company also took on large convertible debt. No passage reports a net cash figure comparable to the $90.5M projection.
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
Projected net cash of $90.5M at year-end 2025, with $260M estimated 2025 cash flow from operations.
Source (primary)
Nautilus Sale Announcement (IR page (investors.terawulf.com), ir_presentation)
View cached copy (2026-10-06)Live source ↗
Quote: “$260.0 ($56.5) $105.0 $95.0 ($313.0) $90.5 2025E Cash Flow (1) HPC Revenue Prepay (2) Project Financing (3) MB-5 Miners CB-2 and Site Capex Net Cash YE 2025E”
How we checked this
Checked on October 13, 2026. The cited source supports every part of this claim.
The 2025 Capital Allocation slide shows $260.0M of 2025E cash flow, footnoted as estimated cash from operations, and Net Cash YE 2025E of $90.5M. The waterfall items sum to $90.5M.
Confirmed in the source:
- TeraWulf projected net cash of $90.5 million at year-end 2025
- TeraWulf estimated 2025 cash flow from operations at $260 million
What we did: Read our cached copy of IR page (investors.terawulf.com) (https://d1io3yog0oux5.cloudfront.net/_26c9692236622f11a71632d61560402c/terawulf/db/2396/23300/pdf/WULF_Nautilus_Sale_Announcement_Deck_%2810-03-24%29vF.pdf) in full (14,394 characters, retrieved October 6, 2026) and checked each assertion in the claim against it.
Additional evidence
confirms Nautilus Sale Announcement
Quote: “$260.0 ($56.5) $105.0 $95.0 ($313.0) $90.5 2025E Cash Flow (1) HPC Revenue Prepay (2) Project Financing (3) MB-5 Miners CB-2 and Site Capex Net Cash YE 2025E”