Lake Mariner power cost estimate Q2-Q4 2025
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
TeraWulf estimates a power cost of $0.05/kWh at Lake Mariner for Q2 through Q4 2025, based on the NYISO Zone A forward curve as of May 5, 2025.
Source (primary)
Investor Presentation (IR page (investors.terawulf.com), ir_presentation)
View cached copy (2026-11-05)Live source ↗Archive.org ↗
Quote: “Estimated power cost of $0.05/kWh at Lake Mariner 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 Investor Presentation
Quote: “Estimated power cost of $0.05/kWh at Lake Mariner Q2 - Q4 2025”
confirms TeraWulf 10-K filed 2026-02-27
Quote: “Total MWhs utilized 1,344,760 1,601,061 Total energy expense, net of expected demand response proceeds (4) ($ 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”