HPC hosting revenue recognition begins Q3 2025
Company: TeraWulf
What the later record shows
Delivered on time · happened September 30, 2025
The Q3 2025 10-Q reports $7.2 million of HPC lease revenue for the three months ended September 30, 2025. The prior-year period had none.
“Revenue: Digital asset revenue $ 43,375 $ 27,059 $ 125,416 $ 105,066 HPC lease revenue 7,203”
2025-11-09 · TeraWulf 10-Q filed 2025-11-10 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
The CFO says TeraWulf will begin recognizing HPC hosting revenue in Q3 2025.
Source (primary)
terawulf 8-K exhibit (a_wulfformearningsreleaseq.htm) (SEC EDGAR (8-K Ex), press_release)
View cached copy (2026-10-07)Live source ↗
Quote: “We will begin recognizing revenue from HPC hosting in the third quarter of 2025”
How we checked this
Checked on October 13, 2026. The cited source supports every part of this claim.
CFO Patrick Fleury is quoted in the release saying the company will begin recognizing HPC hosting revenue in Q3 2025.
Confirmed in the source:
- TeraWulf's CFO, Patrick Fleury, made the statement.
- TeraWulf will begin recognizing HPC hosting revenue in the third quarter of 2025.
What we did: Read our cached copy of SEC EDGAR (8-K Ex) (https://www.sec.gov/Archives/edgar/data/1083301/000108330125000058/a_wulfformearningsreleaseq.htm) in full (24,064 characters, retrieved October 7, 2026) and checked each assertion in the claim against it.
Additional evidence
confirms terawulf 8-K exhibit (a_wulfformearningsreleaseq.htm)
Quote: “We will begin recognizing revenue from HPC hosting in the third quarter of 2025”
confirms TeraWulf 10-Q filed 2025-11-10
Quote: “Revenue: Digital asset revenue $ 43,375 $ 27,059 $ 125,416 $ 105,066 HPC lease revenue 7,203”