Average annualized NOI

Checked on October 10, 2026. The cited source supports part of this claim, but not all of it.

The presentation does state ~$815M average annualized NOI, but for contracted leases still being built out, including a 50.1% joint-venture share. It does not show the portfolio is generating that amount today, which the claim's present-tense 'generates' implies.

Confirmed in the source:

• TeraWulf's February 2026 investor presentation shows approximately $815 million in average annualized net operating income (NOI) for its contracted platform: three long-term leases totaling 522 MW of critical IT capacity.
• The ~$815 million figure includes TeraWulf's 50.1% share of the Abernathy joint venture's NOI.

We could not confirm this from the cited source:

• That TeraWulf's portfolio currently generates about $815 million in annualized NOI. The presentation frames the figure as a contracted average over 10–25 year lease terms, and Q4 2025 HPC lease revenue was only $9.7 million.

That does not mean it is false — only that this source does not establish it, as of the date above. If we find a source that settles it, we will re-check and update this page.

What we did: Read our cached copy of IR page (investors.terawulf.com) (https://d1io3yog0oux5.cloudfront.net/_0c87b48cb4d1c6967968c7d0c3e5933d/terawulf/db/2396/23307/pdf/TeraWulf_Q4_2025_Investor_Presentation_%28Feb_2026%29.pdf) in full (28,069 characters, retrieved September 1, 2026) and checked each assertion in the claim against it.

confirms Q4 Earnings Update Presentation

Quote: “~$815M AVG. ANNUALIZED NOI”

View cached copy (2026-09-01)Live source ↗