CB-1 HPC Deployment Q3 2025
Company: TeraWulf - Project: Lake Mariner Anthropic AI Factory
What the later record shows
Delivered late
HPC leasing began in July 2025, but the 10-K reports only 18 critical IT MW energized as of 2025-12-31, short of the 20 MW Q3 target. By February 2026, 39 critical IT MW were online. No passage names CB-1 or gives the date it reached 20 MW.
“In July 2025, TeraWulf commenced its HPC leasing operations and currently has energized 22.5 MW of HPC leasing capacity at the Lake Mariner Campus.”
2025-11-09 · TeraWulf 10-Q filed 2025-11-10 View cached copy (2026-08-31)Live source ↗
“Lake Mariner has advanced phased expansion to support hyperscale-class HPC deployments, with 39 critical IT MW HPC capacity online”
2026-02-25 · terawulf 8-K exhibit (a_wulfearningsrelease2026-.htm) View cached copy (2026-09-13)Live source ↗
“As of December 31, 2025 the Lake Mariner Data Campus operated 245 MW of legacy bitcoin mining capacity and had 18 critical IT MW of HPC capacity.”
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
Targeting 20 MW critical IT capacity to come online in Q3 2025
Source (primary)
Investor Presentation (IR page (investors.terawulf.com), ir_presentation)
View cached copy (2026-09-01)Live source ↗Archive.org ↗
Quote: “Q3 2025: 20 MW CB-1”
How we checked this
Checked on October 10, 2026. The cited source supports part of this claim, but not all of it.
The document targets CB-1 for Q3 2025 at 20 MW, but labels that figure as gross capacity. It lists the critical IT capacity as 16 MW.
Confirmed in the source:
- TeraWulf targeted Q3 2025 for the 20 MW CB-1 HPC deployment
- The 20 MW figure appears on the HPC hosting timeline
We could not confirm this from the cited source:
- The 20 MW for CB-1 is critical IT capacity (the document labels the timeline figures as gross load capacity and lists CB-1 at 16 MW critical IT)
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/2396/23301/pdf/WULF_Q1_2025_Investor_Pres_vF.pdf) in full (23,307 characters, retrieved September 1, 2026) and checked each assertion in the claim against it.
Additional evidence
confirms Investor Presentation
Quote: “Q3 2025: 20 MW CB-1”
confirms TeraWulf 10-Q filed 2025-11-10
Quote: “In July 2025, TeraWulf commenced its HPC leasing operations and currently has energized 22.5 MW of HPC leasing capacity at the Lake Mariner Campus.”
confirms View 10-K PDF
Quote: “As of December 31, 2025 the Lake Mariner Data Campus operated 245 MW of legacy bitcoin mining capacity and had 18 critical IT MW of HPC capacity.”
confirms terawulf 8-K exhibit (a_wulfearningsrelease2026-.htm)
Quote: “Lake Mariner has advanced phased expansion to support hyperscale-class HPC deployments, with 39 critical IT MW HPC capacity online”