Pro forma fleet efficiency 18.2 J/TH
Company: TeraWulf
What the later record shows
Delivered on time · happened March 31, 2025
The May 2025 investor presentation says the fleet reached 18.0 J/TH in Q1 2025 (as of March 31, 2025). That is better than the 18.2 J/TH target.
“Achieved an 18 J/TH fleet efficiency in Q1 2025”
2025-05-08 · Investor Presentation View cached copy (2026-09-01)Live source ↗Archive.org ↗
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
Fleet upgrade expected to bring miner efficiency to 18.2 J/TH by Q1 2025.
Source (primary)
Nautilus Sale Announcement (IR page (investors.terawulf.com), ir_presentation)
View cached copy (2026-10-13)Live source ↗Archive.org ↗
Quote: “Maintains Q125 target capacity of 13 (EH/s), while upgrading fleet to 18.2 J/TH”
How we checked this
Checked on October 15, 2026. The cited source supports every part of this claim.
The deck gives 18.2 J/TH as the pro forma miner efficiency for the upgraded fleet, including the Q1 2025 MB-5 additions, alongside the Q1 2025 capacity target.
Confirmed in the source:
- TeraWulf planned a mining fleet upgrade
- The pro forma fleet efficiency after the upgrade is 18.2 J/TH
- The 18.2 J/TH figure is tied to the Q1 2025 fleet, including the MB-5 S21 Pro additions that support the Q1 2025 13.1 EH/s target
What we did: Read our cached copy of IR page (investors.terawulf.com) (https://d1io3yog0oux5.cloudfront.net/_513c80c486e62e4bdb70115ded3782f5/terawulf/db/2396/23300/pdf/WULF_Nautilus_Sale_Announcement_Deck_%2810-03-24%29vF.pdf) in full (14,394 characters, retrieved October 13, 2026) and checked each assertion in the claim against it.
Additional evidence
confirms Nautilus Sale Announcement
Quote: “Maintains Q125 target capacity of 13 (EH/s), while upgrading fleet to 18.2 J/TH”
confirms Investor Presentation
Quote: “Achieved an 18 J/TH fleet efficiency in Q1 2025”