Annual capital formation at $8-10M/MW
Company: TeraWulf
The claim, verbatim
Annual capital formation of 250-500 MW critical IT at $8-10M per MW, implying $2.0B-$5.0B per year.
Source (primary)
Q1 2026 Earnings Update Presentation (IR page (investors.terawulf.com), ir_presentation)
View cached copy (2026-10-06)Live source ↗Archive.org ↗
Quote: “Annual Capital Formation 250-500 MW critical IT @ $8-10M/MW = $2.0B-$5.0B”
How we checked this
Checked on October 13, 2026. The cited source supports every part of this claim.
The playbook slide gives exactly this calculation: 250-500 MW critical IT at $8-10M/MW equals $2.0B-$5.0B.
Confirmed in the source:
- Annual capital formation of 250-500 MW of critical IT capacity
- Assumed cost of $8-10M per MW
- Implied $2.0B-$5.0B of annual capital formation
What we did: Read our cached copy of IR page (investors.terawulf.com) (https://d1io3yog0oux5.cloudfront.net/_26c9692236622f11a71632d61560402c/terawulf/db/2396/23490/pdf/TeraWulf+Q1+2026+Investor+Presentation+%28May+2026%29.pdf) in full (27,753 characters, retrieved October 6, 2026) and checked each assertion in the claim against it.
Additional evidence
confirms Q1 2026 Earnings Update Presentation
Quote: “Annual Capital Formation 250-500 MW critical IT @ $8-10M/MW = $2.0B-$5.0B”