Contracted HPC platform: 522 MW leased, ~$13B contracted revenue
Company: TeraWulf
The claim, verbatim
TeraWulf has 522 MW of critical IT leased under three long-term data center leases across two campuses, with ~$13B contracted revenue, 10-25 year base lease terms and ~$815M average annualized NOI.
Source (primary)
Q4 Earnings Update Presentation (IR page (investors.terawulf.com), ir_presentation)
View cached copy (2026-10-06)Live source ↗Archive.org ↗
Quote: “522 MW 10 -25Y ~$13B ~$815M CRITICAL IT LEASED BASE LEASE TERMS CONTRACTED REVENUE AVG. ANNUALIZED NOI”
How we checked this
Checked on October 13, 2026. The cited source supports every part of this claim.
The contracted platform slide states all of these figures. It also notes that the NOI figure includes TeraWulf's 50.1% share of Abernathy.
Confirmed in the source:
- TeraWulf has 522 MW of critical IT leased
- The leased capacity is under three long-term data center leases across two campuses
- Contracted revenue is approximately $13B
- Base lease terms are 10-25 years
- Average annualized NOI is approximately $815M
What we did: Read our cached copy of IR page (investors.terawulf.com) (https://d1io3yog0oux5.cloudfront.net/_26c9692236622f11a71632d61560402c/terawulf/db/2396/23307/pdf/TeraWulf_Q4_2025_Investor_Presentation_%28Feb_2026%29.pdf) in full (28,069 characters, retrieved October 6, 2026) and checked each assertion in the claim against it.
Additional evidence
confirms Q4 Earnings Update Presentation
Quote: “522 MW 10 -25Y ~$13B ~$815M CRITICAL IT LEASED BASE LEASE TERMS CONTRACTED REVENUE AVG. ANNUALIZED NOI”