Updated HPC capex guidance
Company: TeraWulf
The claim, verbatim
Updated HPC guidance: capex ~$6.0M per gross MW, ~$7.2M per critical MW, total capex $430M, annual recurring rent ~$1.6M/MW, EBITDA margin ~75%.
Source (primary)
Investor Presentation (IR page (investors.terawulf.com), ir_presentation)
View cached copy (2026-10-06)Live source ↗
Quote: “CapEx per Gross MW ~$6.0M/MW ➢CapEx per Critical MW ~$7.2M/MW ➢Annual recurring rent ~$1.6M/MW ➢EBITDA margin ~75% ➢Total CapEx $430M”
How we checked this
Checked on October 14, 2026. The cited source supports every part of this claim.
The 'HPC: Cost to Build & Net Yield on Cost' slide lists every figure in the claim as updated guidance.
Confirmed in the source:
- Updated HPC guidance gives capex of ~$6.0M per gross MW
- Updated HPC guidance gives capex of ~$7.2M per critical MW
- Updated HPC guidance gives total capex of $430M
- Updated HPC guidance gives annual recurring rent of ~$1.6M/MW
- Updated HPC guidance gives an EBITDA margin of ~75%
What we did: Read our cached copy of IR page (investors.terawulf.com) (https://d1io3yog0oux5.cloudfront.net/_26c9692236622f11a71632d61560402c/terawulf/db/2396/23301/pdf/WULF_Q1_2025_Investor_Pres_vF.pdf) in full (23,307 characters, retrieved October 6, 2026) and checked each assertion in the claim against it.
Additional evidence
confirms Investor Presentation
Quote: “CapEx per Gross MW ~$6.0M/MW ➢CapEx per Critical MW ~$7.2M/MW ➢Annual recurring rent ~$1.6M/MW ➢EBITDA margin ~75% ➢Total CapEx $430M”
confirms Investor Presentation
Quote: “CapEx per Critical MW ~$7.2M/MW ➢Annual recurring rent ~$1.6M/MW ➢EBITDA margin ~75% ➢Total CapEx $430M”