Pre-halving cost to mine ~$25,000/BTC
Company: TeraWulf
What the later record shows
Outcome not yet confirmed
Q1 2024 filings report only a cash 'cost to mine' of $15,529 per BTC, which excludes depreciation. That is a different metric from the ~$25,000 'total production cost' estimate, so the estimate cannot be checked.
“Cost to mine one bitcoin (1) $ 15,529 $ 7,897 Value of each bitcoin mined (2) $ 53,750 $ 23,077”
2024-05-12 · TeraWulf 10-Q filed 2024-05-13 View cached copy (2026-09-13)Live source ↗
Checked November 9, 2026 against filings, releases and reporting published after the claim was made. Quotes are verbatim from the linked documents.
The claim, verbatim
TeraWulf estimates its total production cost before the halving at about $25,000 per BTC.
Source (primary)
terawulf 8-K exhibit (wulf23resultsand24outloo.htm) (SEC EDGAR (8-K Ex), press_release)
View cached copy (2026-11-09)Live source ↗
Quote: “total production cost, or cost-to-mine a bitcoin, ranks among the lowest among publicly listed bitcoin mining companies at approximately $25,000 per BTC pre-halving”
How we checked this
Checked on November 10, 2026. The cited source supports every part of this claim.
The release states this estimate, based on illustrative market inputs.
Confirmed in the source:
- TeraWulf estimated its pre-halving total production cost at approximately $25,000 per BTC
What we did: Read our cached copy of SEC EDGAR (8-K Ex) (https://www.sec.gov/Archives/edgar/data/1083301/000108330124000053/wulf23resultsand24outloo.htm) in full (18,117 characters, retrieved November 9, 2026) and checked each assertion in the claim against it.
Additional evidence
confirms terawulf 8-K exhibit (wulf23resultsand24outloo.htm)
Quote: “total production cost, or cost-to-mine a bitcoin, ranks among the lowest among publicly listed bitcoin mining companies at approximately $25,000 per BTC pre-halving”