Pro forma cost-to-mine Q1 2025
Company: TeraWulf
What the later record shows
The date slipped
The Q1 2025 10-Q reports an actual cost to mine of $66,156 per bitcoin, far above the ~$36k pro forma target.
“Cost to mine one bitcoin (2) $ 66,156 $ 15,529 Value of each bitcoin mined (3) $ 92,600”
2025-05-08 · TeraWulf 10-Q filed 2025-05-09 View cached copy (2026-08-31)Live source ↗
Checked October 25, 2026 against filings, releases and reporting published after the claim was made. Quotes are verbatim from the linked documents.
The claim, verbatim
TeraWulf estimates a pro forma cost to mine of about $36k per BTC in Q1 2025 following the planned fleet upgrade.
Source (primary)
terawulf 8-K exhibit (wulfq32024investorpres11.htm) (SEC EDGAR (8-K Ex), press_release)
View cached copy (2026-10-25)Live source ↗
Quote: “~$36k / BTC Pro Forma Cost-to-Mine (3)”
How we checked this
This claim has not yet been checked assertion-by-assertion against its source. It carries a cited source and quote, but the deeper check has not run. When it does, the result appears here whatever it says.
Additional evidence
confirms terawulf 8-K exhibit (wulfq32024investorpres11.htm)
Quote: “~$36k / BTC Pro Forma Cost-to-Mine (3)”
delays TeraWulf 10-Q filed 2025-05-09
Quote: “Cost to mine one bitcoin (2) $ 66,156 $ 15,529 Value of each bitcoin mined (3) $ 92,600”