HPC capex per MW
Company: TeraWulf
The claim, verbatim
HPC build capex is estimated at $8MM-$10MM per MW of critical IT load.
Source (primary)
Investor Presentation (IR page (investors.terawulf.com), ir_presentation)
View cached copy (2026-10-13)Live source ↗Archive.org ↗
Quote: “Capex of $8MM - $10MM per MW of critical IT load”
How we checked this
Checked on October 15, 2026. The cited source supports every part of this claim.
The capital allocation slide footnotes capex of $8MM-$10MM per MW of critical IT load. The appendix also records HPC construction-in-progress at $8-10M per MW.
Confirmed in the source:
- TeraWulf estimates HPC data center build capex at $8MM-$10MM per MW of critical IT load
What we did: Read our cached copy of IR page (investors.terawulf.com) (https://d1io3yog0oux5.cloudfront.net/_513c80c486e62e4bdb70115ded3782f5/terawulf/db/2396/23306/pdf/WULF_Q3_2025_Investor_Update_%28Nov_2025%29vF.pdf) in full (31,442 characters, retrieved October 13, 2026) and checked each assertion in the claim against it.
Additional evidence
confirms Investor Presentation
Quote: “Capex of $8MM - $10MM per MW of critical IT load”