February 2023 Dear Shareholders, It has been four weeks since I shared my reflections on TeraWulf's achievements in 2022 and stated goals for 2023. Compare what we share: the breadth and depth of real data, with unbridled transparency, in a timely way. TeraWulfs business is conducted by its employees and executive officers with oversight from a distinguished and diversified board of directors. Self-mined 157 Bitcoin in January 2023, a >25% increase over December 2022. Mr. Fleury began his career in the Global Energy & Power Investment Banking Group at Banc of America Securities, LLC. You must click the activation link in order to complete your subscription. 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. "We believe the continued ramp of our proprietary mining capacity coupled with our industry-leading power costs distinguishes TeraWulf as one of the lowest cost Bitcoin miners in the sector," continued Prager. Mr. Khan received a B.S. in Mechanical Engineering with a certificate in Biomedical Engineering from the University of Colorado Boulder. April 22, 2022, 4:20 PM. Quando utilizzi i nostri siti e le nostre app, noi utilizziamo i. autenticare gli utenti, applicare misure di sicurezza e prevenire spam e abusi; misurare l'utilizzo dei nostri siti e delle nostre app. Mr. Khan previously served as Executive Vice President of Beowulf Energy LLC for nearly 20 years, where he led the firms acquisition and development efforts. Mr. Khan previously served as Executive Vice President of Beowulf Energy LLC for nearly 20 years, where he led the firms acquisition and development efforts. Terawulf met en place une usine minire alimente par l'nergie nuclaire appele Nautilus. You must click the activation link in order to complete your subscription. 2022 Terawulf. And if you dont want to invest in a bitcoin mining company, call us. Paul B. Prager is the largest individual Terawulf shareholder, owning 25.05M shares representing 19.52% of the company. After submitting your request, you will receive an activation email to the requested email address. in Industrial Psychology & History from Washington & Lee University. She has also served as General Counsel at Beowulf Energy LLC for nearly 15 years. 410-770-9500 (Name, Address and Telephone Number of Person . The Lake Mariner facility sources attractively priced power in Western New York where 91% of market energy comes from zero-carbon resources, including from the Niagara Hydroelectric Power Station, which is located 35 miles from the Lake Mariner facility. New Executive Interview with TeraWulf CTO and COO Nazar Khan. 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 . 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. Mr. Farrell holds a B.S. Power volatility in 2022 underscored the importance of power contracts. Attended United States Naval Academy. These warrants will convert back to common stock without any price differential. It has been four weeks since I shared my reflections on TeraWulfs achievements in 2022 and stated goals for 2023. 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. Read More WULF Stock News Headlines TeraWulf is led by an accomplished, diverse management team with 30+ years of experience in developing and managing energy infrastructure and disruptive technology. TeraWulf's Prager on cryptocurrency market. Co-Founder, Chairman & Chief Executive Officer. 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. and a B.A. Paul Prager is the Chairman, Co-Founder & CEO at TeraWulf. Paul Prager is the Chairman of the Board of Directors. Your trust and confidence in TeraWulf have helped us build a remarkable company. in Economics from Allegheny College and a J.D. in Industrial Psychology & History from Washington & Lee University. Si vous souhaitez personnaliser vos choix, cliquez sur Grer les paramtres de confidentialit. 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. Since the Storms departure, New York market prices have corrected to pre-December levels. As an Assistant U.S. Attorney, Ms. Prager handled federal cases involving terrorism, wire and mail fraud, economic espionage, and export control violations, among other matters. 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. 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. Entry into a Material Definitive Agreement. Our industrial-scale mining facilities in New York and Pennsylvania will mine Bitcoin using cost-effective, zero-carbon energy. 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). Patrick Fleury is the Chief Financial Officer of TeraWulf Inc., where he is responsible for directing and overseeing the financial activities of the Company, including investment of funds and additional capital for expansion. TeraWulf (Nasdaq: WULF) owns and operates vertically integrated, environmentally clean Bitcoin mining facilities in the United States. A graduate of the United States Naval Academy, Mr. Prager is a member of the investment committee and Trustee of the USNA Foundation. Energy Intensive Bitcoin Mining: Can the Use of Renewables Answer Critics of Cryptocurrency. Paul Prager, Chief Executive Officer and chairman of the board of TeraWulf, will participate in the Bitcoin 2022 Conference to speak on the Building New Grids panel on April 8, 2022 at 12:45 p.m . Most recently, he served as North American Head of Onshore Sales and Marketing at Siemens Gamesa Renewable Energy Inc., leading the U.S. and Canadas onshore wind turbine product development and market strategy. Se vuoi personalizzare le tue scelte, clicca su "Gestisci le impostazioni per la privacy". CEO Paul Prager discusses moving from energy industry, next gen bitcoin mining, joining forces with Gwyneth Paltrow. Our priority continues to be reducing costs and deploying those resources towards the Companys path to positive cash flow from operations in 2023. He speaks with Guy Johnson and Alix . Potential investors, stockholders and other readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date on which they were made. Chairman of the Board, Chief Executive Officer, Co-Founder . from WesternNew England UniversitySchool of Law. For the avoidance of doubt, I did not sell 12 million shares. from the University of Pennsylvania. 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 . Co-Founder, Chief Operating Officer & Chief Technology Officer. Mr. Carter's extensive leadership background brings a strong commitment to corporate ethics, values and business practices to the board of directors. Ms. Motz brings to the board of directors extensive leadership and public policy experience. in Mechanical Engineering with a certificate in Biomedical Engineering from the University of Colorado Boulder. 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. 1 December 2022 results are based on estimated power costs, which remain subject to standard month end adjustments. Paul Prager is the Co-Founder, Chairman of the Board, and Chief Executive Officer of TeraWulf Inc. Proprietary mining produced 125 Bitcoin in December 22, pushing Q4 22 total to 378 Bitcoin, reflecting a more than 220% increase over the Bitcoin produced in Q3 22, Total fleet of deployed miners reached 18,000 with over 2.0 EH/s of hash rate as of December 31, 2022, On track to bring additional 15,000 miners online at Nautilus Cryptomine in Q1 2023. Prior to TeraWulf, Mr. Prager has been the Founder and CEO at Beowulf Energy LLC and predecessor companies since 1990. 1 Source: Cambridge Bitcoin Electricity Consumption Index (CBECI) (ccaf.io). TeraWulf Inc. WULF ("TeraWulf" or the . Terawulf (NASDAQ: WULF) is owned by 9.57% institutional shareholders, 79.43% Terawulf insiders, and 11.00% retail investors. In addition, TeraWulf Inc. saw -0.84% in overturn over a single year, with a tendency to cut further losses. You can unsubscribe to any of the investor alerts you are subscribed to by visiting the unsubscribe section below. | 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. CEO of Terawulf Inc ( 30-Year Financial, Insider Trades) Paul B. Prager ( insider trades) bought 66,000 shares of WULF on 12/23/2021 at an average price of $12.85 a share. Ms. Fleischmann holds a J.D. Weitere Informationen ber die Verwendung Ihrer personenbezogenen Daten finden Sie in unserer Datenschutzerklrung und unserer Cookie-Richtlinie. dvelopper et amliorer nos produits et services. What differentiates TeraWulf is that we own and operate our facilities, control our power supply and utilize 91%+ zero-carbon energy sources.. 1. 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. Most recently, Mr. Deane was an executive with Heorot Power Holdings LLC, an owner and operator of power generation assets. . Co-Founder, Chairman & Chief Executive Officer, Co-Founder, Chief Operating Officer & Chief Technology Officer. from the University of Pennsylvania. TeraWulf cofounder and CEO Paul Prager joins us to talk about his experience building a vertically-integrated, zero carbon Bitcoin miner. Ikonics (NASDAQ:IKNX) investors will receive $5 in cash and one share in the new company for each share . 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, Chief Executive Officer, and Nazar Khan, Chief Operating Officer, purchased $2.5 million in a private placement at a market price of $1.05 . Enter TeraWulf, which believes it has a better way forward. Your trust and confidence in TeraWulf have helped us build a remarkable company. Paul Prager is the Co-Founder and Chief Executive Officer of TeraWulf Inc, and the Chairman of the Board of Directors. Twitter View on Twitter. Feb 1 2023. LinkedIn View on LinkedIn. Yahoo fa parte della famiglia di brand di Yahoo. from the University of Pennsylvania. He earned a BS in Finance, Economics & Accounting from Fordham University. We will remain laser-focused on scaling mining operations at our existing sites while opportunistically pursuing strategic opportunities in a financially responsible manner. Thats right, we bought at market while this transformational equity raise came at a modest discount to the market. All statements, other than statements of historical fact, are statements that could be deemed forward-looking statements. Mr. Harrison holds an MBA in Finance & Accounting from Loyola University and a B.A. Item 1.01. 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. Before joining Heorot Power, Mr. Deane held positions of Chief Financial Officer, Vice President and Corporate Secretary at Isonics Corporation; Senior Finance Manager at Sun Microsystems, Inc.; and Audit Manager at Deloitte LLP. Prior to TeraWulf, Mr. Prager has been the Founder and CEO at Beowulf Energy LLC and predecessor companies since 1990. Previously, Mr. New was a senior member of the Distressed Finance Group at Credit Suisse and Donaldson, Lufkin and Jenrette. Such forward-looking statements include statements concerning anticipated future events and expectations that are not historical facts. 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. . About 11,500 are proprietary miners with a hash rate capacity of approximately 1.4 EH/s. Mr. Pincus brings substantial risk management, financial oversight and operational expertise to the board of directors. TeraWulf Announces January 2023 Production and Operations Updates. If you want to invest in a bitcoin mining company, come to TeraWulf. Ms. Langlais also worked at Harvard University where she provided advisory to the Universitys overall financial strategy and planning. Prior to BlockTower, Mr. Bucella spent nearly a decade with Goldman Sachs in a variety of roles. Bei der Nutzung unserer Websites und Apps verwenden wir, unsere Websites und Apps fr Sie bereitzustellen, Nutzer zu authentifizieren, Sicherheitsmanahmen anzuwenden und Spam und Missbrauch zu verhindern, und, Ihre Nutzung unserer Websites und Apps zu messen, personalisierte Werbung und Inhalte auf der Grundlage von Interessenprofilen anzuzeigen, die Effektivitt von personalisierten Anzeigen und Inhalten zu messen, sowie, unsere Produkte und Dienstleistungen zu entwickeln und zu verbessern. Successfully navigated extreme operating conditions during Winter Storm Elliot (the "Storm"), quickly returning to full output at the Storms close. Ms. Motz also taught as an adjunct professor at theUniversity of Maryland School of Law. Most recently, Mr. Deane was an executive with Heorot Power Holdings LLC, an owner and operator of power generation assets. Cassie Motz is the Executive Director of the CollegeBound Foundation inBaltimore. 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. Previous to this role, Mr. Bucella led the Institutional Global Equities business, also in Canada. Paul Prager @PaulBPrager . "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 . Sincerely, Paul Prager Chairman and Chief Executive Officer About TeraWulf TeraWulf (Nasdaq: WULF) owns. At TeraWulf, we promise to treat your data with respect and will not share your information with any third party. Today, I write in gratitude:. We are prepared to demonstrate the importance of what we do and how we do it. Ms. Prager brings broad legal, compliance, and regulatory expertise to the TeraWulf board of directors. from Heidelberg University and an LL.M. This is HUGE. 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"). Mr. Carter is a Distinguished Flying Cross and Bronze Star recipient. I also want to address the confusion out there regarding the perceived sale of stock. Ms. Langlais brings more than 20 years of M&A, financing, strategy and power sector experience. Last month, I highlighted the industry-leading investment level our executive team has made in the Company and the commitment it demonstrates. | Privacy Policy. Co-Founder, Chairman & Chief Executive Officer, Co-Founder, Chief Operating Officer & Chief Technology Officer. Prior to TeraWulf, Mr. Prager has been the Founder and CEO at Beowulf Energy LLC and predecessor companies since 1990. and a B.A. Paul Prager to Speak at the 2022 Bitcoin Conference February 22, 2022 Yahoo Finance Bitcoin mining as 'energy infrastructure': TeraWulf CEO details zero carbon emission operation December 14, 2021 New York Times A New Focus on Amazon Warehouses December 13, 2021 Seeking Alpha Gwyneth Paltrow invests in green bitcoin miner TeraWulf 12> Mr. Harrison holds an MBA in Finance & Accounting from Loyola University and a B.A. Mr. Fleury began his career in the Global Energy & Power Investment Banking Group at Banc of America Securities, LLC. 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. Beowulf is led by its founder, Chairman, and Chief Executive Officer, Paul B. Prager. 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, I write in gratitude: proud of our accomplishments, inspired by our extraordinary employees, and confident in our strategy. "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 . TeraWulf is an infrastructure-focused bitcoin mining company accelerating the transition to a zero-carbon future. As further evidence of my conviction, I have not sold a share, directly or indirectly. 4. Together, for more . New Executive Interview with TeraWulf CTO and COO Nazar Khan. With a core focus on ESG that ties directly to its business success, TeraWulf expects to offer attractive mining economics at an industrial scale. Most recently, Mr. Carter served as Superintendent of theU.S. Power volatility in 2022 underscored the importance of power contracts. February 2023 Open Letter from TeraWulf Chairman and CEO Paul Prager . Ms. Fleischmann holds a J.D. TeraWulf went public after it agreed in June to merge with Ikonics . 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. "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. 1 public school ranking by Forbes and expanded academic opportunity and diversity. 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. Lisa Pragerserves as General Counsel and Executive Vice President of the Agricultural Bank ofChinaNew YorkBranch. What is Paul B. Prior to Beowulf, Mr. Khan worked at Evercore Partners Inc. in both investment banking and private equity. Location New York, New York, United States. This past year was a transformational year for TeraWulf and the crypto industry at large. The Company is scheduled to receive over 18,000 additional miners from Bitmain over the coming months. Marathon Patent Group Company Contact: Jason Assad Telephone: 678-570-6791 Paul Prager, CEO and Founder of bitcoin mining company TeraWulf, on how they are generating environmentally sustainable bitcoin and crypto mining practices. 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. 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. Ms. Langlais received her BA in Finance and graduated with honors from Boston College. 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. Mr. Khan received a B.S. Our corporate governance framework promotes accountability, transparency, and effective decision making to ensure the long-term success of the business. 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. Press Releases. "TeraWulf's ability to raise private capital underscores the attractiveness of bringing a new paradigm for cryptocurrency mining to the public markets," said Paul Prager, Chairman and Chief . 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.. The company was founded on February 8, 2021 and is headquartered in Easton, MD. 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.
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