Flash Compute $1.3B senior secured notes
Company: TeraWulf - Project: Abernathy HPC Campus
The claim, verbatim
Flash Compute (Texas/SPP, 50.1% ownership) financed with $1,300M senior secured notes; capex remaining $1,087M.
Source (primary)
Q4 Earnings Update Presentation (IR page (investors.terawulf.com), ir_presentation)
View cached copy (2026-10-06)Live source ↗Archive.org ↗
Quote: “Capex Spend Remaining (2) $1,300 Senior Secured Notes”
How we checked this
Checked on October 13, 2026. The cited source supports every part of this claim.
The capital structure slide shows Flash Compute (Texas/SPP) at 50.1% ownership with $1,300M of senior secured notes and $1,087M of remaining capex.
Confirmed in the source:
- Flash Compute is located in Texas in the SPP market
- Flash Compute is shown with 50.1% ownership
- Flash Compute is financed with $1,300M of senior secured notes
- Flash Compute capex spend remaining is $1,087M
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: “Capex Spend Remaining (2) $1,300 Senior Secured Notes”