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DEFINED CONTRIBUTION PLAN | 12 Months Ended
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Dec. 31, 2022
DEFINED CONTRIBUTION PLAN |
DEFINED CONTRIBUTION PLAN | NOTE 13 – DEFINED CONTRIBUTION PLAN The TeraWulf Inc. 401(k) Plan is a safe harbor defined contribution plan which qualified under section 401(k) of the Internal Revenue Code. A participant’s right to claim a distribution of his or her account balance is dependent on the plan, Employee Retirement and Income Security Act guidelines and Internal Revenue Service regulations. All active participants are fully vested in all contributions to the 401(k) plan. During the year ended December 31, 2022 and the period February 8, 2021 (date of inception) to December 31, 2021, the Company expensed approximately $103,000 and $55,000, respectively, for Company matching contributions.

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- Definition The entire disclosure for defined contribution plan. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 70 -URI http://asc.fasb.org/subtopic&trid=2235116 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 70 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=49170846&loc=d3e28014-114942 + Details
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