2025 fixed operating expense guidance
Company: TeraWulf
What the later record shows
The date slipped
In August 2025 the company raised its 2025 fixed-cost guidance from $74–84M to $84–94M, driven by higher SG&A, which abandons the original range. No actual totals are given.
“Projected Fixed Operating Cost Range of $84 – $94 million 2025 Fixed Operating Cost Guidance Updated Guidance Prior Guidance”
2025-08-13 · terawulf 8-K exhibit (tm2523008d1_ex99-3.htm) View cached copy (2026-10-06)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 guides 2025 fixed costs of $74–84 million: SG&A $40–45M, operating expenses $20–25M, and convertible note interest of $14M.
Source (primary)
Investor Presentation (IR page (investors.terawulf.com), ir_presentation)
View cached copy (2026-10-13)Live source ↗Archive.org ↗
Quote: “Target Annual Fixed Operating Expenses: $74 - $84 million”
How we checked this
Checked on October 15, 2026. The cited source supports every part of this claim.
The 2025 cost guidance slide lists each of these figures.
Confirmed in the source:
- 2025 fixed cost guidance is $74–84 million
- SG&A guidance is $40–45 million
- Operating expense guidance is $20–25 million
- Interest on the 2.75% convertible notes is guided at $14 million
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: “Target Annual Fixed Operating Expenses: $74 - $84 million”
delays terawulf 8-K exhibit (tm2523008d1_ex99-3.htm)
Quote: “Projected Fixed Operating Cost Range of $84 – $94 million 2025 Fixed Operating Cost Guidance Updated Guidance Prior Guidance”