Beowulf E&D acquisition
Company: TeraWulf
What the later record shows
Not a promise: a reported event · happened September 30, 2025
The claim reports a payment already made in Q3 2025. The acquisition itself closed May 21, 2025, with cash earnouts tied to CB-1 ($6.0M) and CB-3 ($13.0M) milestones. The passages do not itemize the $19 million Q3 payment.
“Upon the execution by the Company of a datacenter lease for the CB-3 Project (the “CB-3 Earnout Milestone”), $ 13.0 million in cash.”
2026-02-26 · TeraWulf 10-K filed 2026-02-27 View cached copy (2026-08-31)Live source ↗
“On May 21, 2025 (the “Acquisition Date”), the Company acquired 100% of the membership interests in Beowulf Electricity & Data LLC”
2026-02-27 · View 10-K PDF View cached copy (2026-09-01)Live source ↗Archive.org ↗
Checked October 9, 2026 against filings, releases and reporting published after the claim was made. Quotes are verbatim from the linked documents.
The claim, verbatim
Acquired Beowulf E&D for $19 million in Q3 2025
Source (primary)
Investor Presentation (IR page (investors.terawulf.com), ir_presentation)
View cached copy (2026-09-01)Live source ↗
Quote: “$19 million paid for the acquisition of Beowulf E&D”
How we checked this
Checked on October 10, 2026. The cited source supports every part of this claim.
A footnote to the Q3 2025 capital allocation chart states that $19 million was paid for the acquisition of Beowulf E&D during the quarter.
Confirmed in the source:
- TeraWulf paid $19 million for the acquisition of Beowulf E&D
- The payment was among the cash flows in Q3 2025
What we did: Read our cached copy of IR page (investors.terawulf.com) (https://d1io3yog0oux5.cloudfront.net/_0c87b48cb4d1c6967968c7d0c3e5933d/terawulf/db/2396/23306/pdf/WULF_Q3_2025_Investor_Update_%28Nov_2025%29vF.pdf) in full (31,442 characters, retrieved September 1, 2026) and checked each assertion in the claim against it.
Additional evidence
confirms Investor Presentation
Quote: “$19 million paid for the acquisition of Beowulf E&D”