Lake Mariner estimated power cost
Company: TeraWulf
What the later record shows
Delivered on time · happened December 31, 2025
No passage gives a Q2-Q4 figure, but FY2025 less Q1 implies about $55.6M of energy over about 1,042,880 MWh, or roughly $0.053/kWh, which is in line with the $0.05 estimate. Q4 alone was higher, at about $0.063/kWh.
“Total MWhs utilized 1,344,760 1,601,061 Total energy expense, net of expected demand response proceeds (4) ($ in thousands) $ 80,199 $ 68,815 Cost per kWh $ 0.060 $ 0.043”
2026-02-26 · TeraWulf 10-K filed 2026-02-27 View cached copy (2026-08-31)Live source ↗
“Total MWhs utilized 163,747 301,880 Total energy expense, net of expected demand response proceeds ($ in thousands) $ (90) $ 24,553 Cost per kWh $ (0.001) $ 0.081”
2026-05-07 · TeraWulf 10-Q filed 2026-05-08 View cached copy (2026-08-31)Live source ↗
Checked November 5, 2026 against filings, releases and reporting published after the claim was made. Quotes are verbatim from the linked documents.
The claim, verbatim
Estimated power cost at Lake Mariner is $0.05/kWh for Q2-Q4 2025, based on the NYISO Zone A forward curve as of August 5, 2025.
Source (primary)
Q2 Earnings Update Presentation (IR page (investors.terawulf.com), ir_presentation)
View cached copy (2026-11-05)Live source ↗
Quote: “Estimated power cost of $0.05/kWh at Lake Mariner for Q2–Q4 2025”
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 Q2 Earnings Update Presentation
Quote: “Estimated power cost of $0.05/kWh at Lake Mariner for Q2–Q4 2025”
confirms TeraWulf 10-K filed 2026-02-27
Quote: “Total MWhs utilized 1,344,760 1,601,061 Total energy expense, net of expected demand response proceeds (4) ($ in thousands) $ 80,199 $ 68,815 Cost per kWh $ 0.060 $ 0.043”
confirms TeraWulf 10-Q filed 2026-05-08
Quote: “Total MWhs utilized 163,747 301,880 Total energy expense, net of expected demand response proceeds ($ in thousands) $ (90) $ 24,553 Cost per kWh $ (0.001) $ 0.081”