WULF Den first revenue Q2 2025
Company: TeraWulf - Project: La Lupa
What the later record shows
Delivered late · happened July 31, 2025
The target was first WULF Den revenue in Q2 2025. The August 2025 update says WULF Den began recording revenue in July 2025, just after the quarter ended.
“x WULF Den began recording revenue in July x CB - 1 will begin recording revenue mid - August”
2025-08-13 · terawulf 8-K exhibit (tm2523008d1_ex99-3.htm) View cached copy (2026-10-06)Live source ↗
“The Company commenced HPC leasing operations at the Lake Mariner Data Campus in July 2025”
2026-02-27 · View 10-K PDF View cached copy (2026-09-01)Live source ↗Archive.org ↗
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
Targeting first HPC revenue from 2.5 MW WULF Den in Q2 2025.
Source (primary)
Investor Presentation (IR page (investors.terawulf.com), ir_presentation)
View cached copy (2026-10-06)Live source ↗
Quote: “Q2 2025: 2.5 MW WULF Den”
How we checked this
Checked on October 16, 2026. The cited source supports every part of this claim.
The HPC hosting timeline slide, under 'Targeting 1st Revenue', lists Q2 2025 for the 2.5 MW WULF Den.
Confirmed in the source:
- TeraWulf is targeting first HPC revenue in Q2 2025 from WULF Den
- WULF Den is 2.5 MW (gross)
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: “Q2 2025: 2.5 MW WULF Den”
confirms View 10-K PDF
Quote: “The Company commenced HPC leasing operations at the Lake Mariner Data Campus in July 2025”
confirms terawulf 8-K exhibit (tm2523008d1_ex99-3.htm)
Quote: “x WULF Den began recording revenue in July x CB - 1 will begin recording revenue mid - August”
confirms Investor Presentation
Quote: “Q2 2025: 2.5 MW WULF Den”
confirms terawulf 8-K exhibit (wulfq12025investorpresvf.htm)
Quote: “Q2 2025: 2.5 MW WULF Den”