2025 bitcoin production estimate
Company: TeraWulf
What the later record shows
Partly delivered · happened December 31, 2025
The FY2025 10-K reports 1,496 bitcoin mined in 2025, short of the 1,901 BTC estimate (about 79%). The period has ended, so the shortfall cannot be made up.
“Total bitcoin mined (3) 1,496 2,728 Total value of bitcoin mined (2) ($ in thousands) $ 151,556 $ 171,547”
2026-02-26 · TeraWulf 10-K filed 2026-02-27 View cached copy (2026-08-31)Live source ↗
Checked October 13, 2026 against filings, releases and reporting published after the claim was made. Quotes are verbatim from the linked documents.
The claim, verbatim
TeraWulf estimates 1,529 BTC mined in Q2–Q4 2025 and 1,901 BTC for full-year 2025 at ~18 J/TH fleet efficiency.
Source (primary)
Investor Presentation (IR page (investors.terawulf.com), ir_presentation)
View cached copy (2026-10-13)Live source ↗Archive.org ↗
Quote: “Total Bitcoin Mined”
How we checked this
Checked on October 15, 2026. The cited source supports every part of this claim.
The cash cost to mine guidance table shows 1,529 BTC for Q2–Q4 2025E and 1,901 BTC for 2025 FYE, at 18 J/TH. These figures are consistent with 372 actual Q1 BTC and with the table's cost-per-BTC figures.
Confirmed in the source:
- TeraWulf estimates 1,529 BTC mined in Q2–Q4 2025
- TeraWulf estimates 1,901 BTC mined for full-year 2025
- The estimates assume ~18 J/TH miner fleet efficiency
What we did: Read our cached copy of IR page (investors.terawulf.com) (https://d1io3yog0oux5.cloudfront.net/_513c80c486e62e4bdb70115ded3782f5/terawulf/db/2396/23301/pdf/WULF_Q1_2025_Investor_Pres_vF.pdf) in full (23,307 characters, retrieved October 13, 2026) and checked each assertion in the claim against it.
Additional evidence
confirms Investor Presentation
Quote: “Total Bitcoin Mined”