"TeraWulf made remarkable operational advancements in January as we continued to make significant progress towards expanding capacity at Lake Mariner with the addition of Building 2, and energization of the Nautilus Cryptomine facility, which will be the first behind the meter bitcoin mining facility utilizing low cost, zero-carbon nuclear power at scale in the U.S.," stated Paul Prager . EASTON, Md., January 09, 2023--(BUSINESS WIRE)--Today TeraWulf Inc. (Nasdaq: WULF) ("TeraWulf" or the "Company"), which owns and operates vertically integrated, domestic Bitcoin mining facilities powered by more than 91% zero-carbon energy, provided an unaudited monthly production and operations update for December 2022. and a B.A. Let me be clear we have a deal that should enable the Company to pay down principal when we have available free cash flow, instead of adhering to a mandatory payment schedule. Si vous ne souhaitez pas que nos partenaires et nousmmes utilisions des cookies et vos donnes personnelles pour ces motifs supplmentaires, cliquez sur Refuser tout. Pour en savoir plus sur la faon dont nous utilisons vos donnes personnelles, veuillez consulter notre politique relative la vie prive et notre politique en matire de cookies. Finally, as you consider investing in the space, look at our public disclosures. Management Investment: today, TeraWulf also announced that its co-founders, Paul Prager, Chief Executive Officer, and Nazar Khan, Chief Operating Officer, purchased $2.5 million in a private placement at a market price of $1.05 per share (the last reported sale price of the Company's common stock on the Nasdaq on January 26, 2023). She has also served as General Counsel at Beowulf Energy LLC for nearly 15 years. Prior to TeraWulf, Mr. Prager has been the Founder and CEO at Beowulf Energy LLC and predecessor companies since 1990. Paul Prager. Nazar Khan is the Co-Founder, Chief Operating Officer, Chief Technology Officer, and Board Member of TeraWulf Inc. Mr. Khan brings tremendous experience in energy infrastructure and cryptocurrency mining and has led TeraWulfs business strategy since day one. Paul Prager is the Co-Founder and Chief Executive Officer of TeraWulf Inc, and the Chairman of the Board of Directors. Co-Founder, Chairman & Chief Executive Officer, Co-Founder, Chief Operating Officer & Chief Technology Officer. Ms. Prager received a B.A. You can unsubscribe to any of the investor alerts you are subscribed to by visiting the unsubscribe section below. And in that short period, our team has accomplished key milestones that we believe will be foundational in achieving our . Before that, he was a Managing Director at Blackstones global credit platform, GSO Capital Partners. As we transition into 2023 and strive to execute our plan and pursue growth, we will operate with several clear priorities: So, I will close where I started with a sincere thank you. Today, the Companys wholly-owned Lake Mariner facility has approximately 60 MW of operational mining capacity, and TeraWulf expects to reach 110 MW of capacity at the facility in Q2 2023. 410-770-9500 (Name, Address and Telephone Number of Person . Mr. Deane brings more than 20 years of financial and operational experience in the power, high tech and public accounting sectors. Most recently, Mr. Fleury served as a founding member of the credit team at Platinum Equity, where he was responsible for public and private credit investments. To opt-in for investor email alerts, please enter your email address in the field below and select at least one alert option. Nous, Yahoo, faisons partie de la famille de marques Yahoo. in accounting from the University of Florida. "TeraWulf's ability to raise private capital underscores the attractiveness of bringing a new paradigm for cryptocurrency mining to the public markets," TeraWulf chairman and CEO Paul Prager said . Paul Prager @PaulBPrager . Paul Prager is the Co-Founder and Chief Executive Officer of TeraWulf Inc, and the Chairman of the Board of Directors. Michael Bucella is a Partner and Global Head of Strategic Partnerships for BlockTower Capital, a leading institutional cryptocurrency investment firm bringing professional trading and portfolio management to an emerging digital asset class. We are prepared to demonstrate the importance of what we do and how we do it. Path to Positive Cash Flow from Operations in 2023 and Beyond. Mr. Harrison brings decades of experience in financial and marketing communications, equity research, financial analysis, and strategic planning. Paul Prager and his family had been flying via helicopter between Manhattan and Easton, Maryland, for many yearsChesapeake Bay retrievers in towsplitting time between their five-bedroom Fifth Avenue co-op perched over the Met and their 250-acre estate on the Miles River, called Maiden Point Farm. Paul Prager is the founder of Beowulf Energy LLC, a private, independent infrastructure holding company that develops, builds, owns, and operates power generation and energy infrastructure. Forward-looking statements are based on the current expectations and beliefs of TeraWulfs management and are inherently subject to a number of factors, risks, uncertainties and assumptions and their potential effects. He speaks with Guy Johnson and Alix . Sean Farrell is a Vice President of Operations for TeraWulf Inc., where he is responsible for coordinating and overseeing the companys data center operations and vertical integration strategy. Our best days are ahead of us. TeraWulf Co-Founder, CEO & Chair of the Board Paul Prager joins Yahoo Finance Live to talk about zero carbon mining for bitcoin and other cryptocurrencies, outlook on . Paul Prager, CEO and Founder of bitcoin mining company TeraWulf, on how they are generating environmentally sustainable bitcoin and crypto mining practices. Kenneth Deane is the Chief Accounting Officer and Treasurer of TeraWulf Inc., where he is responsible for managing the Companys financial functions, including accounting, audit, internal control and treasury. On March 1, 2023 (the "Fifth Amendment Effective Date"), TeraWulf Inc. (the "Company") entered into an amendment (the "Fifth Amendment") to its Loan, Guaranty and Security Agreement, dated as of December 1, 2021 (as amended, modified or supplemented from time to time, the "Loan Agreement"), by and . | Privacy Policy, TeraWulf Announces Closing of $28 Million Underwritten Equity Offering and Over-Allotment Option, TeraWulfs Nuclear Bitcoin Plant Is Just One Piece of the Green Mining Puzzle, TeraWulf Announces January 2023 Production and Operations Updates, TeraWulf Issues an Open Letter to Shareholders from Chairman and CEO, TeraWulf Announces Beneficial Debt Modifications and Approximately $32 Million of New Equity Proceeds, February 2023 Open Letter from TeraWulf Chairman and CEO Paul Prager, TeraWulf Announces Proposed Public Offering of Common Stock, First Nuclear-Powered Bitcoin Mine in US Opening in 2023, Americas first nuclear-powered Bitcoin mining center to open in Pennsylvania. Deployed fleet of 18,000 miners exceeding hash rate . Sandy Harrison is the Vice President of Investor Relations for TeraWulf Inc., where he is responsible for leading the companys investor relations program and furthering its environmental, sustainability and governance initiatives. TeraWulf Announces Closing of $28 Million Underwritten Equity Offering and Over-Allotment Option. TeraWulf does not assume any obligation to publicly update any forward-looking statement after it was made, whether as a result of new information, future events or otherwise, except as required by law or regulation. Energy Intensive Bitcoin Mining: Can the Use of Renewables Answer Critics of Cryptocurrency? Paul Prager Chief Executive Officer; Director: 1388889: Award at $ 0. . 1 Source: Cambridge Bitcoin Electricity Consumption Index (CBECI) (ccaf.io). Mr. Farrell began his energy career at Siemens Energy and held positions of increasing responsibility within their Power System Sales organization in both generation and electric delivery across diverse verticals for over a decade. Co-Founder, Chairman & Chief Executive Officer. All Rights Reserved. Paul B. Prager is the largest individual Terawulf shareholder, owning 25.05M shares representing 19.52% of the company. Klicken Sie auf Alle ablehnen, wenn Sie nicht mchten, dass wir und unsere Partner Cookies und personenbezogene Daten fr diese zustzlichen Zwecke verwenden. Prior to Beowulf, Mr. Khan worked at Evercore Partners Inc. in both investment banking and private equity. Our industrial-scale mining facilities in New York and Pennsylvania will mine Bitcoin using cost-effective, zero-carbon energy. All Rights Reserved. Most recently, Ms. Langlais was an executive at Beowulf Energy LLC, a leading private energy infrastructure company, where she led the companys M&A and financing efforts. in Economics from Allegheny College and a J.D. The Nautilus Cryptomine facility, a joint venture with Talen Energy Corporation, is in the initial stages of ramping its mining operations and is expected to provide 50 MW of net mining capacity to TeraWulf in Q1 2023, representing the Companys 25% interest in the joint venture. The total cost of. Feb 2 2023. Ms. Langlais received her BA in Finance and graduated with honors from Boston College. You must click the activation link in order to complete your subscription. The Company is nearing final stages of construction at its two mining sites and expects to have a total operational capacity of 49,000 miners (5.5 EH/s) in early Q2 2023, representing about 160 MW of power demand. If you experience any issues with this process, please contact us for further assistance. Kerri Langlais is the Chief Strategy Officer for TeraWulf Inc., where she is responsible for the development and implementation of the Companys overall corporate strategy, business development, strategic partnerships, and growth initiatives. I believe that is more than any leadership team in the sector and underscores our confidence in WULFs mission and what we are building. Previous to this role, Mr. Bucella led the Institutional Global Equities business, also in Canada. Prior to TeraWulf, Mr. Prager has been the Founder and CEO at Beowulf Energy LLC and predecessor companies since 1990. Feb 1 2023. Ms. Langlais also worked at Harvard University where she provided advisory to the Universitys overall financial strategy and planning. . Attended United States Naval Academy. And if you dont want to invest in a bitcoin mining company, call us. Investors are referred to the full discussion of risks and uncertainties associated with forward-looking statements and the discussion of risk factors contained in the Companys filings with the SEC, which are available at www.sec.gov. from Boston University and is admitted to practice law in New York and Germany. Before Beowulf, Ms. Langlais spent nearly a decade in the Investment Banking Division at Goldman Sachs, where she was most recently in the Natural Resources advisory group in New York. Naval Academyreached the No. You can sign up for additional alert options at any time. Id like to take a moment to highlight a few key milestones that we achieved during our first year as a public company: What differentiates TeraWulf is that we own and operate our facilities, control our power supply and utilize 91%+ zero-carbon energy sources. He was an original Partner of GSO and a member of its Management Committee and Investment Committee. Mr. Prager has extensive investment and entrepreneurial experience in international shipping, commodity trading and power generation. Importantly, I want to thank our loyal investors and fellow WULFpack members for sticking with us through an unimaginably challenging year. The Company is scheduled to receive over 18,000 additional miners from Bitmain over the coming months. Insider Trading. Mr. Pincus brings substantial risk management, financial oversight and operational expertise to the board of directors. By providing your email address below, you are providing consent to TeraWulf to send you the requested Investor Email Alert updates. Paul B. Prager Chairman and Chief Executive Officer TeraWulf Inc. About TeraWulf TeraWulf (Nasdaq: WULF) owns and operates vertically integrated, environmentally clean Bitcoin mining. We efficiently procured miners to completely utilize our 160 MW of mining capacity with, Achieving our target of 49,000 operating miners (5.5 EH/s hash rate) in Q1 2023, Leveraging our blended power cost of $0.035/kWh, which is 30% lower than the industry, Optimizing our earnings power by executing on our recently announced, Expanding the suite of grid services that we offer to the market, Supporting a more collaborative approach to regulation and thoughtful calibration of the rules. Mr. Harrison holds an MBA in Finance & Accounting from Loyola University and a B.A. Paul Prager, Chairman & Chief Executive Officer of TeraWulf, said, "We are thrilled to join the Bitcoin Mining Council and are honored to support sustainable bitcoin mining. We have said all along the amount of monies required to achieve free cash flow positive operations, and we have now reached that important milestone. mostrarti annunci e contenuti personalizzati in base ai profili di interesse; misurare l'efficacia di annunci e contenuti personalizzati; sviluppare e migliorare i nostri prodotti e servizi. Press Releases. Paul Prager is the Chairman of the Board of Directors. | Privacy Policy, February 2023 Open Letter from TeraWulf Chairman and CEO Paul Prager, An Open Letter from TeraWulf Chairman and CEO Paul Prager. Despite the turbulent backdrop, we remained steadfastly focused on building a scalable, vertically integrated Bitcoin mining company that uses low-cost, 91%+ zero-carbon energy. Mining Disrupt Conference July 25-27, 2023 Miami . Paul Prager, Chairman & Chief Executive Officer of TeraWulf, said, "TeraWulf represents an exciting new paradigm for cryptocurrency mining, which is built on a significant strategic. San Juan, Puerto Rico 00901 . You must click the activation link in order to complete your subscription. Paul Prager is the Chairman, Co-Founder & CEO at TeraWulf. Kerri Langlais is the Chief Strategy Officer for TeraWulf Inc., where she is responsible for the development and implementation of the Companys overall corporate strategy, business development, strategic partnerships, and growth initiatives. As COO and CTO, Mr. Khan oversees the development and implementation of TeraWulfs day-to-day operations, including hardware procurement, site evaluation, infrastructure buildout and identification of future growth opportunities. 53 Palmeras Street, Suite 601 . Paul B Prager owns about 31,534,679 units of Terawulf Inc common stock. Mr. Farrell holds a B.S. Ms. Langlais brings more than 20 years of M&A, financing, strategy and power sector experience. I also want to address the confusion out there regarding the perceived sale of stock. dvelopper et amliorer nos produits et services. His career as an entrepreneur, executive, developer, and investor has spanned three decades and four continents, with success across a broad range of energy infrastructure projects. The full text of the letter is below and available on the Company's website at www.terawulf.com: An Open Letter to Shareholders from TeraWulf Chairman and CEO Paul Prager February 2023 Dear. To opt-in for investor email alerts, please enter your email address in the field below and select at least one alert option. In addition, forward-looking statements are typically identified by words such as "plan," "believe," "goal," "target," "aim," "expect," "anticipate," "intend," "outlook," "estimate," "forecast," "project," "continue," "could," "may," "might," "possible," "potential," "predict," "should," "would" and other similar words and expressions, although the absence of these words or expressions does not mean that a statement is not forward-looking. in accounting from the University of Florida. afficher des publicits et des contenus personnaliss en fonction de vos profils de centres dintrt; mesurer lefficacit des publicits et contenus personnaliss; et. TeraWulf generates domestically produced Bitcoin powered by nuclear, hydro, and solar energy with a goal of utilizing 100% zero-carbon energy. Led by an experienced group of energy entrepreneurs, the Company is currently operating and/or completing construction of two mining facilities: Lake Mariner in New York, and Nautilus Cryptomine in Pennsylvania. Kenneth Deane is the Chief Accounting Officer and Treasurer of TeraWulf Inc., where he is responsible for managing the Companys financial functions, including accounting, audit, internal control and treasury. Ms. Langlais also worked at Harvard University where she provided advisory to the Universitys overall financial strategy and planning. And in that short period, our team has accomplished key milestones that we believe will be foundational in achieving our goal of being the preeminent miner producing bitcoin from zero-carbon energy resources at the lowest marginal cost in the sector. Sean Farrell is a Vice President of Operations for TeraWulf Inc., where he is responsible for coordinating and overseeing the companys data center operations and vertical integration strategy. Mr. Fleury brings 22 years of finance experience, comprising of capital markets, principal investing, and advisory roles. Paul Weiss, Rifkind, Wharton & Garrison LLP is serving as legal advisor and Moelis & Company LLC acted as exclusive placement agent to TeraWulf in connection with the debt and equity financing.. We will remain laser-focused on scaling mining operations at our existing sites while opportunistically pursuing strategic opportunities in a financially responsible manner. from Heidelberg University and an LL.M. Power prices increased dramatically during the severe weather event that crossed most of the United States in December, increasing Lake Mariners operating cost during the days of local impact. Wenn Sie Ihre Auswahl anpassen mchten, klicken Sie auf Datenschutzeinstellungen verwalten. Most recently, Mr. Deane was an executive with Heorot Power Holdings LLC, an owner and operator of power generation assets. Item 1.01. February 2023 Dear Shareholders, . Ms. Langlais also worked at Harvard University where she provided advisory to the Universitys overall financial strategy and planning. Mr. Prager has extensive investment and entrepreneurial experience in international shipping, commodity trading and power generation. 2022 Terawulf. Mr. Most recently, Mr. Carter served as Superintendent of theU.S. Earlier in her career as an Assistant U.S. Attorney, Ms. Motz prosecuted homicide and domestic violence cases and argued appellate cases in federal and local courts. Company profile for TeraWulf Inc. including key executives, insider trading, ownership, revenue and average growth rates. After several weeks of constructive dialogue with our lenders, we have reached an agreement on modifying the terms of our debt to eliminate near-term amortization and thereby optimize TeraWulfs financial flexibility through market cycles. from Heidelberg University and an LL.M. TeraWulf is led by an accomplished, diverse management team with 30+ years of experience in developing and managing energy infrastructure and disruptive technology. Meltem Demirors, Chief Strategy Officer . Prior to joining Beowulf, Ms. Fleischmann was a Senior Associate in the Mergers and Acquisitions Group at Paul, Weiss, Rifkind, Wharton & Garrison LLP, where she worked on a wide range of private and public M&A, joint venture, cross-border and financing transactions. Mr. Prager has extensive investment and entrepreneurial experience in international shipping, commodity trading and power generation. Such forward-looking statements include statements concerning anticipated future events and expectations that are not historical facts. TeraWulf went public after it agreed in June to merge with Ikonics . He began his career at AIG and held senior roles at Johnson & Higgins and Aon. The . Ms. Motz graduated summa cum laude fromDartmouth Collegewith a B.A. Mr. Khan received a B.S. He received his BSBA in economics from theUniversity of Arizona. What differentiates TeraWulf is that we own and operate our facilities, control our power supply and utilize 91%+ zero-carbon energy sources.. Vous pouvez modifier vos choix tout moment en cliquant sur le lien Tableau de bord sur la vie prive prsent sur nos sites et dans nos applications. "Our ability to secure this new capital, together with the near-term deployment of the S19 XP miners at Lake Mariner, is further indication of TeraWulf's continued momentum," said Paul Prager . An Open Letter from TeraWulf Chairman and CEO Paul Prager January 2023 This past year was a transformational year for TeraWulf and the crypto industry at large. Cassie Motz is the Executive Director of the CollegeBound Foundation inBaltimore. TeraWulf Retweeted. Si vous souhaitez personnaliser vos choix, cliquez sur Grer les paramtres de confidentialit. As part of our recent and likely final capital raise, my co-founder and COO, Nazar Khan, and I purchased an additional $2.5 million of equity at the market price. The upcoming deliveries will fill the Companys 160 MW of mining capacity available in early Q2 2023 with 34,000 miners (110 MW) at its Lake Mariner facility and 15,000 miners (50 MW) at its Nautilus facility. Together, for more . To opt-in for investor email alerts, please enter your email address in the field below and select at least one alert option. View source version on businesswire.com: https://www.businesswire.com/news/home/20230106005442/en/, Sandy Harrisonharrison@terawulf.com (410) 770-9500, https://www.businesswire.com/news/home/20230106005442/en/, Pot vote has Oklahoma hungry to rake in green from Texas, How Ron DeSantis misreads Corporate America, Tesla recalls 3,470 Model Y vehicles over loose bolts, 3 big things in investing you might have missed this week, UPDATE 1-North Korea says US causing international arms control collapse. Co-Founder, and Chief Executive Officer of TeraWulf Inc. Most recently, Ms. Langlais was an executive at Beowulf Energy LLC, a leading private energy infrastructure company, where she led the companys M&A and financing efforts. He graduated from the Navy Fighter Weapons School (Top Gun) inMiramar, California, and was commander for the Carrier Strike Group Twelve, in which he commanded 20 ships, two nuclear-powered aircraft carriers and two carrier air wings that were deployed toAfghanistanin the Arabian Gulf. You can sign up for additional alert options at any time. About 11,500 are proprietary miners with a hash rate capacity of approximately 1.4 EH/s. TeraWulf is led by an accomplished, diverse management team with 30+ years of experience in developing and managing energy infrastructure and disruptive technology. He earned a BS in Finance, Economics & Accounting from Fordham University. Let me quickly highlight what undeniably sets WULF apart from our peers: Every move from this point forward is about advancingourmissionandpushingthe boundaries of what is possible for our business and our shareholders. During December 2022, the Company received approximately 4,500 miners and an additional 3,750 miners were delivered during the first week of January 2023 from Bitmain Technologies Limited ("Bitmain"). He earned a B.A. Event Details Bitcoin Miami - LIVE Panel with TeraWulf CEO Paul Prager April 8, 2022 12:45 PM ET Tune into Bitcoin Miami's LIVE Mining Stage stream featuring TeraWulf's CEO, Paul Prager. from the University of Pennsylvania. "TeraWulf's ability to raise private capital underscores the attractiveness of bringing a new paradigm for cryptocurrency mining to the public markets," CEO Paul Prager said in a statement. in Industrial Psychology & History from Washington & Lee University. Lisa Pragerserves as General Counsel and Executive Vice President of the Agricultural Bank ofChinaNew YorkBranch. Most recently, Ms. Langlais was an executive at Beowulf Energy LLC, a leading private energy infrastructure company, where she led the companys M&A and financing efforts. He began his career at AIG and held senior roles at both Johnson & Higgins and Aon. Kerri Langlais is the Chief Strategy Officer for TeraWulf Inc., where she is responsible for the development and implementation of the Companys overall corporate strategy, business development, strategic partnerships, and growth initiatives. You must click the activation link in order to complete your subscription. in history and earned a J.D. April 22, 2022, 4:20 PM. "For 2023, we plan to aggressively expand our deployed hash rate as we continue to receive miner shipments with a goal of reaching 5.5 EH/s of sustainable, operating mining capacity.". As COO and CTO, Mr. Khan oversees the development and implementation of TeraWulfs day-to-day operations, including hardware procurement, site evaluation, infrastructure buildout and identification of future growth opportunities. Paul Prager is the Co-Founder, Chairman of the Board, and Chief Executive Officer of TeraWulf Inc. Puoi modificare le tue scelte in qualsiasi momento cliccando sui link "Dashboard privacy" sui nostri siti e sulle nostre app. This past year, our management team invested over $15 million of our personal capital in the Company. Se vuoi personalizzare le tue scelte, clicca su "Gestisci le impostazioni per la privacy". Before joining Semtech, Mr. Harrison held analyst positions with increasing levels of responsibility at Wunderlich Securities, Signal Hill Capital Group and Pacific Growth Equities. TeraWulf, Inc. owns and operates fully integrated environmentally clean bitcoin mining facilities in the United States. Paul Prager is the Co-Founder, Chairman and CEO of TeraWulf Inc., a leading clean energy digital asset company. For the last 8 years, he served as Vice President of Investor Relations at Semtech Corporation, managing and growing the investor relations program. . Paul Prager, TeraWulf's CEO, said in a statement: "Disposition of the Ikonics legacy business allows the TeraWulf management team to focus our energies on the continued build-out of our zero . Management Investment: today, TeraWulf also announced that its co-founders, Paul Prager, Chief Executive Officer, and Nazar Khan, Chief Operating Officer, purchased $2.5 million in a private . | Privacy Policy, February 2023 Open Letter from TeraWulf Chairman and CEO Paul Prager, An Open Letter from TeraWulf Chairman and CEO Paul Prager. For the avoidance of doubt, I did not sell 12 million shares. Ms. Motz also taught as an adjunct professor at theUniversity of Maryland School of Law. Your trust and confidence in TeraWulf have helped us build a remarkable company. TeraWulf Inc. WULF ("TeraWulf" or the . Mr. Farrell holds a B.S. in Mechanical Engineering with a certificate in Biomedical Engineering from the University of Colorado Boulder. and M.S. The approximate remaining 6,500 miners (0.7 EH/s) are operated pursuant to hosting arrangements where the Company receives a fee and participates financially in mining profits.