Jane Street Group and related entities reported beneficial ownership of 5.8% of Terawulf Inc. common stock, representing 27,751,813 shares as disclosed on 05/04/2026. The filing lists shared voting and dispositive power for that aggregate position and identifies subsidiaries that hold the shares.
Positive
None.
Negative
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Insights
Large passive stake disclosed: Jane Street entities hold 5.8% of Terawulf.
The schedule reports an aggregate beneficial position of 27,751,813 shares held with shared voting and dispositive power. The filing identifies specific subsidiaries (e.g., Jane Street Capital, LLC) as holders, consistent with a consolidated disclosure.
This is a factual ownership disclosure; cash‑flow treatment and trading intent are not stated in the excerpt. Subsequent filings could show changes in active trading status or Schedule 13D conversion, but timing is not provided in the excerpt.
Key Figures
Aggregate shares beneficially owned:27,751,813 sharesAggregate percent of class:5.8%Jane Street Capital holdings:22,734,214 shares+2 more
Aggregate percent of class5.8%Percent of Terawulf common stock reported in the filing
Jane Street Capital holdings22,734,214 sharesHeld by Jane Street Capital, LLC (reported as 4.7%)
Jane Street Global Trading holdings3,022,147 sharesHeld by Jane Street Global Trading, LLC (reported as 0.6%)
Leonard Street Holdings holdings1,994,649 sharesHeld by Leonard Street Holdings, LP (reported as 0.4%)
Key Terms
Schedule 13G, Beneficial ownership, Shared Dispositive Power, Shared Voting Power
4 terms
Schedule 13Gregulatory
"Item 1. | (a) | Name of issuer: TERAWULF INC."
A Schedule 13G is a formal document that investors file with the government when they acquire a large ownership stake in a company, usually for investment purposes rather than control. It helps keep the public informed about who owns significant parts of a company's shares, which can influence how the company is managed and how investors make decisions. Filing this schedule is important for transparency and understanding the ownership landscape of publicly traded companies.
Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.
Shared Dispositive Powerregulatory
"Item 4. | (iv) | Shared power to dispose or to direct the disposition of: 27,751,813.00"
Shared Voting Powerregulatory
"Item 4. | (ii) | Shared power to vote or to direct the vote: 27,751,813.00"
Shared voting power occurs when two or more parties jointly have the right to vote or decide how a block of company shares is cast, like co-owners who must agree before moving a piece of furniture. Investors care because who controls voting rights affects board elections, major corporate decisions and takeover outcomes, and shared control can alter regulatory disclosures and the practical influence any holder has over a company’s direction and value.
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
TERAWULF INC.
(Name of Issuer)
Common Stock, par value $0.001 per share
(Title of Class of Securities)
88080T104
(CUSIP Number)
04/28/2026
(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule is filed:
Rule 13d-1(b)
Rule 13d-1(c)
Rule 13d-1(d)
schemaVersion:
SCHEDULE 13G
CUSIP Number(s):
88080T104
1
Names of Reporting Persons
JANE STREET GROUP, LLC
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
DELAWARE
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
27,751,813.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
27,751,813.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
27,751,813.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
5.8 %
12
Type of Reporting Person (See Instructions)
HC
SCHEDULE 13G
CUSIP Number(s):
88080T104
1
Names of Reporting Persons
Jane Street Capital, LLC
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
DELAWARE
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
22,734,214.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
22,734,214.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
22,734,214.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
4.7 %
12
Type of Reporting Person (See Instructions)
BD
SCHEDULE 13G
CUSIP Number(s):
88080T104
1
Names of Reporting Persons
Jane Street Global Trading, LLC
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
DELAWARE
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
3,022,147.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
3,022,147.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
3,022,147.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
0.6 %
12
Type of Reporting Person (See Instructions)
OO
SCHEDULE 13G
CUSIP Number(s):
88080T104
1
Names of Reporting Persons
Leonard Street Holdings, LP
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
DELAWARE
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
1,994,649.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
1,994,649.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
1,994,649.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
0.4 %
12
Type of Reporting Person (See Instructions)
OO
SCHEDULE 13G
CUSIP Number(s):
88080T104
1
Names of Reporting Persons
Jane Street Singapore Pte. Ltd
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
SINGAPORE
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
803.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
803.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
803.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
0.0 %
12
Type of Reporting Person (See Instructions)
OO
SCHEDULE 13G
Item 1.
(a)
Name of issuer:
TERAWULF INC.
(b)
Address of issuer's principal executive offices:
9 FEDERAL STREET, EASTON, MARYLAND, 21601.
Item 2.
(a)
Name of person filing:
Jane Street Group, LLC;
Jane Street Capital, LLC;
Jane Street Global Trading, LLC;
Leonard Street Holdings, LP,
Jane Street Singapore Pte. Limited
(b)
Address or principal business office or, if none, residence:
Jane Street Group, LLC
250 Vesey Street
6th Floor
New York, NY 10281
Jane Street Capital, LLC
250 Vesey Street
6th Floor
New York, NY 10281
Jane Street Global Trading, LLC
250 Vesey Street
6th Floor
New York, NY 10281
Leonard Street Holdings, LP
250 Vesey Street
6th Floor
New York, NY 10281
Jane Street Singapore Pte. Limited
4/F, Ocean Financial Centre
10 Collyer Quay
Singapore 049315
(c)
Citizenship:
See Item 4 of Cover Page
(d)
Title of class of securities:
Common Stock, par value $0.001 per share
(e)
CUSIP Number(s):
88080T104
Item 3.
If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)
Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)
Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)
Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)
Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)
An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)
An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)
A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)
A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)
A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)
A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J),
please specify the type of institution:
(k)
Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.
Ownership
(a)
Amount beneficially owned:
27,751,813.00
(b)
Percent of class:
5.8 %
(c)
Number of shares as to which the person has:
(i) Sole power to vote or to direct the vote:
0
(ii) Shared power to vote or to direct the vote:
27,751,813.00
(iii) Sole power to dispose or to direct the disposition of:
0
(iv) Shared power to dispose or to direct the disposition of:
27,751,813.00
Item 5.
Ownership of 5 Percent or Less of a Class.
Not Applicable
Item 6.
Ownership of more than 5 Percent on Behalf of Another Person.
Not Applicable
Item 7.
Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
If a parent holding company has filed this schedule, pursuant to Rule 13d-1(b)(ii)(G), so indicate under Item 3(g) and attach an exhibit stating the identity and the Item 3 classification of the relevant subsidiary. If a parent holding company has filed this schedule pursuant to Rule 13d-1(c) or Rule 13d-1(d), attach an exhibit stating the identification of the relevant subsidiary.
Subsidiary
Jane Street Capital, LLC
Jane Street Global Trading, LLC
Leonard Street Holdings, LP
Jane Street Singapore Pte. Limited
Item 8.
Identification and Classification of Members of the Group.
Not Applicable
Item 9.
Notice of Dissolution of Group.
Not Applicable
Item 10.
Certifications:
By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under § 240.14a-11.
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.
What stake does Jane Street report in TERAWULF (WULF)?
Jane Street and related entities report beneficial ownership of 27,751,813 shares, equal to 5.8% of Terawulf common stock as of the filing dated 05/04/2026. The position is shown with shared voting and dispositive power.
Which Jane Street subsidiaries are listed as holders in the Schedule 13G?
The filing lists Jane Street Capital, LLC, Jane Street Global Trading, LLC, Leonard Street Holdings, LP, and Jane Street Singapore Pte. Limited as subsidiaries associated with the disclosed ownership position.
Does the Schedule 13G state whether Jane Street is passive or active?
This excerpt is a Schedule 13G disclosure of beneficial ownership and does not state trading intent or active management; the form itself implies passive investor status unless converted to a Schedule 13D by amendment.
How much of the 5.8% position is held by Jane Street Capital, LLC?
Jane Street Capital, LLC is shown holding 22,734,214 shares, which the filing lists as 4.7% of the class. The filing attributes shared voting and dispositive power for that amount.
Who signed the Schedule 13G for Jane Street and when was it signed?
The filing is signed by Jeremy Kahn (Authorized Signatory) on 05/04/2026, certifying the disclosures for the reporting entities listed in the document.
