Our corporate governance framework promotes accountability, transparency, and effective decision making to ensure the long-term success of the business. 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. 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. Insider Trading. 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. Compare what we share: the breadth and depth of real data, with unbridled transparency, in a timely way. Reports are indicating that there were more than several insider trading activities at WULF starting from Prager Paul B., who purchase 317,259 shares at the price of $7.88 back on Apr 11. Paul Prager is the Co-Founder, Chairman of the Board, and Chief Executive Officer of TeraWulf Inc. For the last 8 years, he served as Vice President of Investor Relations at Semtech Corporation, managing and growing the investor relations program. You must click the activation link in order to complete your subscription. Mr. Fleury received a BA, magna cum laude, in Economics and Government & Legal Studies from Bowdoin College. 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. 1 public school ranking by Forbes and expanded academic opportunity and diversity. Paul Prager is the Chairman of the Board of Directors. Mr. Carter is a Distinguished Flying Cross and Bronze Star recipient. 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 . Mr. Harrison brings decades of experience in financial and marketing communications, equity research, financial analysis, and strategic planning. If you experience any issues with this process, please contact us for further assistance. Feb 1 2023. 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. The Company operates approximately 18,000 Bitcoin miners with a hash rate capacity over 2.0 EH/s at its Lake Mariner facility. Mr. Prager has extensive investment and entrepreneurial experience in international shipping, commodity . 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. Today, I write in gratitude: proud of our accomplishments, inspired by our extraordinary employees, and confident in our strategy. Mr. New brings to the board of directors a wealth of experience in complex financial structuring and optimization in a public company setting. After submitting your request, you will receive an activation email to the requested email address. In doing so, we believe that we will be able to generate increasing cash flow throughout the year, which will give us further financial leverage to scale our mining operations. Her distinguished career in both nonprofit and government will help TeraWulf execute on its strategy of sustainable growth and community impact. I believe that is more than any leadership team in the sector and underscores our confidence in WULFs mission and what we are building. and a B.A. Klicken Sie auf Alle ablehnen, wenn Sie nicht mchten, dass wir und unsere Partner Cookies und personenbezogene Daten fr diese zustzlichen Zwecke verwenden. 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 went public after it agreed in June to merge with Ikonics . Green bitcoin miner TeraWulf going public via reverse merger. Prior to Beowulf, Mr. Khan worked at Evercore Partners Inc. in both investment banking and private equity. You can unsubscribe to any of the investor alerts you are subscribed to by visiting the unsubscribe section below. You could say it all started with a bundt cake. 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. Jason New is the Co-Founder and Managing Partner of NovaWulf Digital Management, an institutionally focused digital asset infrastructure investment firm. Terawulf a dclar pour la premire fois en 2021 que la flotte de 15 000 machines minires de Nautilus aura un taux de hachage de 1,6 exahash par seconde (EH/s) lorsqu'elle atteindra sa pleine capacit plus tard au premier trimestre de . in Economics from Allegheny College and a J.D. Paul Prager Chief Executive Officer; Director: 1388889: Award at $ 0. . 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. from the University of Pennsylvania. TERAWULF Inc. (Name of Issuer) Common stock, par value $0.001 per share (Title of Class of Securities) 88080T 104 (CUSIP Number) Bayshore Capital LLC . 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. You can sign up for additional alert options at any time. He is also part of the global Corporate Risk and Broking leadership team. If you experience any issues with this process, please contact us for further assistance. In the matter of just a few weeks, we raised what we plan to be the final funding needed to bridge the Company to self-sustaining operations, only a few months away. Paul B. Prager is the largest individual Terawulf shareholder, owning 25.05M shares representing 19.52% of the company. "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 . 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. Webcast 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. A Peek Into the Origins of TeraWulf and Our Up-and-Coming Nuclear Facility. Self-mined 125 Bitcoin in December 2022 for a total of 378 Bitcoin produced in Q4 2022, a 223% increase as compared to 117 Bitcoin produced in Q3 2022. Our priority continues to be reducing costs and deploying those resources towards the Companys path to positive cash flow from operations in 2023. 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. She also served as Deputy Legal Counsel to Governor O'Malley and as the Interim Director of the Governor's Office for Children. He holds a B.S. Prior to TeraWulf, Mr. Prager has been the Founder and CEO at Beowulf Energy LLC and predecessor companies since 1990. 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 non vuoi che noi e i nostri partner utilizziamo i cookie e i dati personali per questi scopi aggiuntivi, clicca su "Rifiuta tutto". 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. TeraWulf, Inc. owns and operates fully integrated environmentally clean bitcoin mining facilities in the United States. For the last 8 years, he served as Vice President of Investor Relations at Semtech Corporation, managing and growing the investor relations program. April 22, 2022, 4:20 PM. And in that short period, our team has accomplished key milestones that we believe will be foundational in achieving our . 1 December 2022 results are based on estimated power costs, which remain subject to standard month end adjustments. Mr. Khan received a B.S. Mr. Harrison holds an MBA in Finance & Accounting from Loyola University and a B.A. 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. Together, for more . February 2023 Dear Shareholders, . Ms. Motz graduated summa cum laude fromDartmouth Collegewith a B.A. Ms. Langlais brings more than 20 years of M&A, financing, strategy and power sector experience. With a core focus on ESG that ties directly to its business success, TeraWulf expects to offer attractive mining economics at an industrial scale. Prior to TeraWulf, Mr. Prager has been the Founder and CEO at Beowulf Energy LLC and predecessor companies since 1990. 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. Lisa Pragerserves as General Counsel and Executive Vice President of the Agricultural Bank ofChinaNew YorkBranch. TeraWulf is led by an accomplished, diverse management team with 30+ years of experience in developing and managing energy infrastructure and disruptive technology. 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. 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. 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. Despite weather-related price volatility in December, the Company projects an average cost of power of approximately $0.035/kWh across its two sites. It is led by energy entrepreneur Paul Prager and a seasoned team with many leadership positions held by women, including Chief Strategy . Paul Prager, TeraWulf CEO and Founder, discusses crypto regulation and green mining. Paul B Prager owns about 31,534,679 units of Terawulf Inc common stock. Prior to TeraWulf, Mr. Prager has been the Founder and CEO at Beowulf Energy LLC and predecessor companies since 1990. 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. from Heidelberg University and an LL.M. from Duke University School of Law. Prior to TeraWulf, Mr. Prager has been the Founder and CEO at Beowulf Energy LLC and predecessor companies since 1990. Beowulf is led by its founder, Chairman, and Chief Executive Officer, Paul B. Prager. Co-Founder, and Chief Executive Officer of TeraWulf Inc. A graduate of the United States Naval Academy, Mr. Prager is a member of the investment committee and Trustee of the USNA Foundation. Mr. Bucella brings to the board of directors extensive capital markets experience, institutional knowledge, and deep experience in the digital asset space. Stefanie Fleischmann is Chief Legal Officer and Corporate Secretary of TeraWulf Inc., where she oversees all legal and compliance matters for the company. 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. Paul Prager is the Chairman, Co-Founder & CEO at TeraWulf. The Nautilus Cryptomine, located in Berwick, Pennsylvania, is directly connected to the Susquehanna Nuclear Station and pays a five-year fixed-price of $0.02/kWh, among the lowest in the Bitcoin mining 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. TeraWulf is led by an accomplished, diverse management team with 30+ years of experience in developing and managing energy infrastructure and disruptive technology. 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. ESG is at the core of TeraWulfs corporate strategy and ties directly to its business success, risk mitigation, and reputational value. Power volatility in 2022 underscored the importance of power contracts. and a B.A. After submitting your request, you will receive an activation email to the requested email address. 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 Industrial Psychology & History from Washington & Lee University. He speaks with Guy Johnson and Alix . TeraWulf cofounder and CEO Paul Prager joins us to talk about his experience building a vertically-integrated, zero carbon Bitcoin miner. Thank you to all our investors, partners, and fellow WULFpack members for working with us to build the leading mining company.
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