Lease termination consideration payment to Riesling Power LLC
Company: TeraWulf - Project: Lake Mariner Anthropic AI Factory
The claim, verbatim
TeraWulf paid Riesling Power LLC $12 million in cash and 20 million shares of Common Stock as consideration for terminating an existing lease agreement with Somerset Operating Company, LLC and entering into a new lease agreement with Lake Mariner Data LLC
Source (primary)
TeraWulf SC 13D/A filed 2024-10-10 (SEC EDGAR, sec_filing)
View cached copy (2026-08-31)Live source ↗
Quote: “the Issuer paid Riesling consideration consisting of 20 million shares of Common Stock and $12 million in cash”
How we checked this
Checked on September 17, 2026. The cited source supports every part of this claim.
The filing states that under an October 9, 2024 termination agreement, TeraWulf paid Riesling 20 million shares and $12 million in cash for Somerset's willingness to end the prior lease with Lake Mariner Data LLC and enter a new lease with TeraWulf and Lake Mariner Data LLC. The filing also identifies Somerset by its full name, Somerset Operating Company, LLC.
Confirmed in the source:
- TeraWulf (the Issuer) paid Riesling Power LLC $12 million in cash
- TeraWulf paid Riesling Power LLC 20 million shares of Common Stock
- The payment was consideration for terminating an existing lease agreement involving Somerset Operating Company, LLC (a lease between Lake Mariner Data LLC and Somerset)
- The payment was also consideration for entering into a new lease agreement with the Issuer and Lake Mariner Data LLC
What we did: Read our cached copy of SEC EDGAR (https://www.sec.gov/Archives/edgar/data/1083301/000095014224002552/eh240543264_13da13-stamm.htm) in full (19,913 characters, retrieved August 31, 2026) and checked each assertion in the claim against it.
Additional evidence
confirms TeraWulf SC 13D/A filed 2024-10-10
Quote: “the Issuer paid Riesling consideration consisting of 20 million shares of Common Stock and $12 million in cash”