SCHEDULE: Bank of Nova Scotia Discloses Terawulf Stake

Bank of Nova Scotia has filed a Schedule 13G, reporting beneficial ownership of 7.7% of Terawulf Inc. common stock as of June 30, 2026.

Summary

• Bank of Nova Scotia has filed an amendment to its Schedule 13G, indicating its beneficial ownership of Terawulf Inc. common stock.
• As of June 30, 2026, the bank holds 39,824,376 shares, representing 7.7% of the class of securities.
• This filing is an amendment, suggesting a previous filing or a change in ownership status.
• The bank has sole voting power and sole dispositive power over these shares.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as a neutral filing, as it is a routine disclosure of beneficial ownership by an institutional investor and does not provide new operational or financial information about Terawulf Inc.

Positives

• Bank of Nova Scotia's significant stake may indicate confidence in Terawulf Inc.'s future prospects.
• The clear reporting of sole voting and dispositive power simplifies the ownership structure.

Negatives

• The filing does not provide context for the acquisition or the strategic intent behind the stake.
• No information is provided regarding the cost basis or performance of the investment.

Risks

• As a significant shareholder, Bank of Nova Scotia is exposed to the market and operational risks of Terawulf Inc.
• Changes in the banking sector or regulatory environment could impact the bank's investment strategy.

Future Outlook

The filing itself does not contain forward-looking statements or guidance from Terawulf Inc. It solely reports the ownership stake of Bank of Nova Scotia.

Management Comments

• "By signing below I certify that, to the best of my knowledge and belief, the foreign regulatory scheme applicable to The Bank of Nova Scotia is substantially comparable to the regulatory scheme applicable to the functionally equivalent U.S. institution(s)."
• "I also undertake to furnish to the Commission staff, upon request, information that would otherwise be disclosed in a Schedule 13D."
• "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."

Industry Context

StockSavvy.ai notes that institutional investors like Bank of Nova Scotia filing Schedule 13G forms often signal a passive investment approach, but a 7.7% stake is substantial and could warrant closer monitoring for any shifts in strategy.

Stakeholder Impact

• Shareholders of Terawulf Inc. may see the significant stake by Bank of Nova Scotia as a sign of institutional interest, potentially influencing market perception.
• Creditors and suppliers of Terawulf Inc. may view the stable institutional ownership as a positive indicator of the company's financial backing.

Next Steps

• Monitor future filings by Bank of Nova Scotia for any changes in its stake in Terawulf Inc.
• Observe Terawulf Inc.'s operational and financial performance for insights into the investment's underlying value.

Key Dates

Keywords

Terawulf Inc., Bank of Nova Scotia, Schedule 13G, Beneficial Ownership, Common Stock, SEC Filing, Investment, Shareholder