HPC hosting revenue to begin Q2 2025
Company: TeraWulf
What the later record shows
Delivered late · happened July 31, 2025
HPC revenue began in July 2025, not Q2. The Q3 10-Q shows nine-month HPC revenue equal to Q3 revenue, so Q2 2025 had none.
“WULF Den began recording revenue in July x CB - 1 will begin recording revenue mid - August”
2025-08-13 · terawulf 8-K exhibit (tm2523008d1_ex99-3.htm) View cached copy (2026-10-06)Live source ↗
“Gross HPC Lease Revenue $7.2 million ➢ WULF Den online July, CB-1 online August”
2025-11-09 · terawulf 8-K exhibit (wulfq32025investorupdate.htm) View cached copy (2026-09-27)Live source ↗
Checked October 15, 2026 against filings, releases and reporting published after the claim was made. Quotes are verbatim from the linked documents.
The claim, verbatim
TeraWulf expects HPC hosting revenue to begin in the second quarter of 2025 as its data halls come online.
Source (primary)
terawulf 8-K exhibit (a_wulfformearningsreleas.htm) (SEC EDGAR (8-K Ex), press_release)
View cached copy (2026-10-15)Live source ↗
Quote: “HPC hosting revenue is expected to begin in the second quarter of 2025 as our data halls come online”
How we checked this
Checked on October 16, 2026. The cited source supports every part of this claim.
The CFO states this directly in the release.
Confirmed in the source:
- TeraWulf expects HPC hosting revenue to begin in the second quarter of 2025 as its data halls come online
What we did: Read our cached copy of SEC EDGAR (8-K Ex) (https://www.sec.gov/Archives/edgar/data/1083301/000108330125000033/a_wulfformearningsreleas.htm) in full (23,447 characters, retrieved October 15, 2026) and checked each assertion in the claim against it.
Additional evidence
confirms terawulf 8-K exhibit (a_wulfformearningsreleas.htm)
Quote: “HPC hosting revenue is expected to begin in the second quarter of 2025 as our data halls come online”
confirms terawulf 8-K exhibit (wulfq32025investorupdate.htm)
Quote: “Gross HPC Lease Revenue $7.2 million ➢ WULF Den online July, CB-1 online August”
confirms terawulf 8-K exhibit (tm2523008d1_ex99-3.htm)
Quote: “WULF Den began recording revenue in July x CB - 1 will begin recording revenue mid - August”