2025 BTC mined projection

Subject kind: guidance
Statement date: 2025-08-14
Promised by: 2025-12-31
Promised amount: 1811.0 BTC
Current status: outcome unconfirmed

What the later record shows

Partly delivered · happened December 31, 2025

The FY2025 10-K reports 1,496 bitcoin mined in 2025. That is short of the 1,811 BTC full-year projection, and the year is closed.

“Year Ended December 31, Cost of mining - Analysis of costs to mine one bitcoin 2025 2024”
2026-02-26 · TeraWulf 10-K filed 2026-02-27 View cached copy (2026-08-31)Live source ↗

“Statistics LMD Bitcoin Mining Facilities and net share of the Nautilus Cryptomine Facility Total bitcoin mined (3) 1,496 2,728”
2026-02-26 · TeraWulf 10-K filed 2026-02-27 View cached copy (2026-08-31)Live source ↗

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 954 BTC mined in Q3-Q4 2025 and 1,811 BTC for full-year 2025.

Source (primary)

Q2 Earnings Update Presentation (IR page (investors.terawulf.com), ir_presentation)
View cached copy (2026-10-06)Live source ↗

Quote: “Total BTC Mined 7.3 372 10.3 485 930 2.0% 18.0 10.5 954 930 2.0% 18.0 9.7 1,811”

How we checked this

Checked on October 14, 2026. The cited source supports every part of this claim.

The cost-to-mine table shows 954 BTC mined for the Q3–Q4 2025 estimate and 1,811 BTC for 2025 full-year. The full-year figure equals Q1 actual (372) plus Q2 actual (485) plus the 954 projection.

Confirmed in the source:

TeraWulf projects 954 BTC mined in Q3-Q4 2025
TeraWulf projects 1,811 BTC mined for full-year 2025

What we did: Read our cached copy of IR page (investors.terawulf.com) (https://d1io3yog0oux5.cloudfront.net/_26c9692236622f11a71632d61560402c/terawulf/db/2396/23302/pdf/WULF_Q2_2025_Investor_Update_%28Aug_2025%29vF.pdf) in full (17,599 characters, retrieved October 6, 2026) and checked each assertion in the claim against it.

Additional evidence

confirms Q2 Earnings Update Presentation

Quote: “Total BTC Mined 7.3 372 10.3 485 930 2.0% 18.0 10.5 954 930 2.0% 18.0 9.7 1,811”

View cached copy (2026-10-06)Live source ↗

confirms Q2 Earnings Update Presentation

Quote: “Total BTC Mined 7.3 372 10.3 485 930 2.0% 18.0 10.5 954 930 2.0% 18.0 9.7 1,811”

View cached copy (2026-10-13)Live source ↗

Record of changes

October 6, 2026 — stated

Automated extraction from the cited source. Recorded automatically from the cited source when it was published, then queued for evidence review.

October 7, 2026 — delayed

Automated extraction from the cited source. Recorded automatically from the cited source when it was published, then queued for evidence review.

October 9, 2026 — outcome unconfirmed

Automated extraction from the cited source. Recorded automatically from the cited source when it was published, then queued for evidence review.

October 9, 2026 — outcome unconfirmed

Review. statement_date 2026-10-06 was the source's retrieval date; source published 2025-08-14.