Flash Compute financing
Company: TeraWulf - Project: Abernathy HPC Campus
The claim, verbatim
TeraWulf financed WULF Compute and Flash Compute (Abernathy, Texas) with senior secured notes; Flash Compute has $1,300M senior secured notes.
Source (primary)
Q4 Earnings Update Presentation (IR page (investors.terawulf.com), ir_presentation)
View cached copy (2026-10-13)Live source ↗Archive.org ↗
Quote: “Financed WULF Compute and Flash Compute”
How we checked this
Checked on October 15, 2026. The cited source supports every part of this claim.
The 2025 summary says TeraWulf financed WULF Compute and Flash Compute. The capital structure slide shows Flash Compute (Texas/SPP, 50.1% ownership) with $1,300M of senior secured notes.
Confirmed in the source:
- TeraWulf financed WULF Compute and Flash Compute
- Flash Compute is the Texas/SPP platform in which TeraWulf holds a 50.1% interest, consistent with the Abernathy JV
- WULF Compute is financed with $3,200M of senior secured notes
- Flash Compute has $1,300M of senior secured notes
What we did: Read our cached copy of IR page (investors.terawulf.com) (https://d1io3yog0oux5.cloudfront.net/_513c80c486e62e4bdb70115ded3782f5/terawulf/db/2396/23307/pdf/TeraWulf_Q4_2025_Investor_Presentation_%28Feb_2026%29.pdf) in full (28,069 characters, retrieved October 13, 2026) and checked each assertion in the claim against it.
Additional evidence
confirms Q4 Earnings Update Presentation
Quote: “Financed WULF Compute and Flash Compute”