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Insider Trading. 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. Terawulf met en place une usine minire alimente par l'nergie nuclaire appele Nautilus. 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. Co-Founder, Chief Operating Officer & Chief Technology Officer. Together, for more . TeraWulf Announces January 2023 Production and Operations Updates. Mr. Carter's extensive leadership background brings a strong commitment to corporate ethics, values and business practices to the board of directors. If you experience any issues with this process, please contact us for further assistance. The Company is scheduled to receive over 18,000 additional miners from Bitmain over the coming months. Since the Storms departure, New York market prices have corrected to pre-December levels. TeraWulf Announces Closing of $28 Million Underwritten Equity Offering and Over-Allotment Option. Mr. Pincus brings substantial risk management, financial oversight and operational expertise to the board of directors. This past year was a transformational year for TeraWulf and the crypto industry at large. I believe that is more than any leadership team in the sector and underscores our confidence in WULFs mission and what we are building. from Yale Law School. 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. and a B.A. 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. Ms. Motz graduated summa cum laude fromDartmouth Collegewith a B.A. Gender Male. 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. 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. Meltem Demirors, Chief Strategy Officer . 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). Paul Prager, TeraWulf CEO and Founder, discusses crypto regulation and green mining. Deployed fleet of 18,000 miners exceeding hash rate . A graduate of the United States Naval Academy, Mr. Prager is a member of the investment committee and Trustee of the USNA Foundation. All Rights Reserved. TeraWulf's Co-Founder and CEO, Paul Prager, commented, "The amendments to the Nautilus JV agreement enable TeraWulf to reduce our near-term capital obligations at the Nautilus Cryptomine . Power volatility in 2022 underscored the importance of power contracts. 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. Prior to Beowulf, Mr. Khan worked at Evercore Partners Inc. in both investment banking and private equity. Paul Prager. 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. Mr. Se vuoi personalizzare le tue scelte, clicca su "Gestisci le impostazioni per la privacy". Co-Founder, Chairman & Chief Executive Officer. It has been four weeks since I shared my reflections on TeraWulfs achievements in 2022 and stated goals for 2023. "The language has absolutely changed." But financial priorities and technological barriers in the crypto mining industry, which includes more than a dozen publicly traded companies like Argo, are preventing a complete shift to renewable . Paul Prager @PaulBPrager . 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.. Enter TeraWulf, which believes it has a better way forward. 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. Feb 2 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. He holds a B.S. 1 December 2022 results are based on estimated power costs, which remain subject to standard month end adjustments. dvelopper et amliorer nos produits et services. 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. Prior to Beowulf, Mr. Khan worked at Evercore Partners Inc. in both investment banking and private equity. 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. Si vous souhaitez personnaliser vos choix, cliquez sur Grer les paramtres de confidentialit. If you experience any issues with this process, please contact us for further assistance. February 2023 Dear Shareholders, . Jason New is the Co-Founder and Managing Partner of NovaWulf Digital Management, an institutionally focused digital asset infrastructure investment firm. 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. Paul B. Prager is the largest individual Terawulf shareholder, owning 25.05M shares representing 19.52% of the company. Paul Prager is the Chief Executive Officer and the chair of the board of directors of TeraWulf. Lisa Pragerserves as General Counsel and Executive Vice President of the Agricultural Bank ofChinaNew YorkBranch. TeraWulfs business is conducted by its employees and executive officers with oversight from a distinguished and diversified board of directors. 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 . Paul Prager is the Co-Founder and Chief Executive Officer of TeraWulf Inc, and the Chairman of the Board of Directors. You can sign up for additional alert options at any time. Most recently, he ran the Multi-Asset Sales & Trading business in Canada and led efforts to expand this strategy globally. 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. Be assured that I am here with you and will continue to personally invest in TeraWulf. Bitcoin Miami - LIVE Panel with TeraWulf CEO Paul Prager - TeraWulf Inc. Mr. Harrison brings decades of experience in financial and marketing communications, equity research, financial analysis, and strategic planning. TeraWulf is led by an accomplished, diverse management team with 30+ years of experience in developing and managing energy infrastructure and disruptive technology. Paul Prager is the Chairman, Co-Founder & CEO at TeraWulf. Self-mined 157 Bitcoin in January 2023, a >25% increase over December 2022. Mr. Fleury received a BA, magna cum laude, in Economics and Government & Legal Studies from Bowdoin College. Your trust and confidence in TeraWulf have helped us build a remarkable company. 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. Naval Academyreached the No. 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. Ms. Langlais received her BA in Finance and graduated with honors from Boston College. You could say it all started with a bundt cake. Mr. Fleury received a BA, magna cum laude, in Economics and Government & Legal Studies from Bowdoin College. Prior to TeraWulf, Mr. Prager has been the Founder and CEO at Beowulf Energy LLC and predecessor companies since 1990. Paul Prager is the Co-Founder and Chief Executive Officer of TeraWulf Inc, and the Chairman of the Board of Directors. And in that short period, our team has accomplished key milestones that we believe will be foundational in achieving our . in history and earned a J.D. TeraWulf went public after it agreed in June to merge with Ikonics . 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. Energy Intensive Bitcoin Mining: Can the Use of Renewables Answer Critics of Cryptocurrency. You can unsubscribe to any of the investor alerts you are subscribed to by visiting the unsubscribe section below. TeraWulf's Co-Founder and CEO, Paul Prager, commented, "The amendments to the Nautilus JV agreement enable TeraWulf to reduce our near-term capital obligations at the Nautilus Cryptomine . 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. There can be no assurance that future developments will be those that have been anticipated. afficher des publicits et des contenus personnaliss en fonction de vos profils de centres dintrt; mesurer lefficacit des publicits et contenus personnaliss; et. mesurer votre utilisation de nos sites et applications. Co-Founder, and Chief Executive Officer of TeraWulf Inc. Mr. Deane brings more than 20 years of financial and operational experience in the power, high tech and public accounting sectors. TeraWulf Announces Closing of $28 Million Underwritten Equity Offering and Over-Allotment Option. All Rights Reserved. Ms. Fleischmann holds a J.D. 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. Nous, Yahoo, faisons partie de la famille de marques Yahoo. These warrants will convert back to common stock without any price differential. This is HUGE. Prior to BlockTower, Mr. Bucella spent nearly a decade with Goldman Sachs in a variety of roles. "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 Co-Founder, Chairman & Chief Executive Officer Paul Prager is the Co-Founder, Chairman of the Board, and Chief Executive Officer of TeraWulf Inc. 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. 2022 Terawulf. The total cost of. Most recently, Mr. Carter served as Superintendent of theU.S. 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. Ms. Langlais received her BA in Finance and graduated with honors from Boston College. Thank you to all our investors, partners, and fellow WULFpack members for working with us to build the leading mining company. Paul Prager "TeraWulf " BTC TeraWulf 100% BTC TeraWulf, Inc. owns and operates fully integrated environmentally clean bitcoin mining facilities in the United States. Paul B. Prager's Terawulf shares are currently valued at $15.81M. from Boston University and is admitted to practice law in New York and Germany. Prior to NovaWulf, Mr. New was the Head of Onex Credit, a leading asset manager with more than $23 billion of assets under management. We will remain laser-focused on scaling mining operations at our existing sites while opportunistically pursuing strategic opportunities in a financially responsible manner. Ms. Motz also taught as an adjunct professor at theUniversity of Maryland School of Law. With a core focus on ESG that ties directly to its business success, TeraWulf expects to offer attractive mining economics at an industrial scale. 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. 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. Prior to TeraWulf, Mr. Prager has been the Founder and CEO at Beowulf Energy LLC and predecessor companies since 1990. Mr. Fleury brings 22 years of finance experience, comprising of capital markets, principal investing, and advisory roles. Mr. Carter is a Distinguished Flying Cross and Bronze Star recipient. 4. Co-Founder, Chairman & Chief Executive Officer, Co-Founder, Chief Operating Officer & Chief Technology Officer. She began her career at Freshfields and Willkie Farr & Gallagher LLP in New York and Frankfurt, Germany. Ms. Langlais also worked at Harvard University where she provided advisory to the Universitys overall financial strategy and planning. 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 . Ms. Motz previously served on the University System ofMaryland BoardofRegentsfromJune 2014throughMarch 2015 and as a Deputy Chief of Staff to Maryland GovernorMartin O'Malley. Mr. Fleury began his career in the Global Energy & Power Investment Banking Group at Banc of America Securities, LLC. Co-Founder, and Chief Executive Officer of TeraWulf Inc. and a B.A. If you want to invest in a bitcoin mining company, come to TeraWulf. She has also served as General Counsel at Beowulf Energy LLC for nearly 15 years. Despite weather-related price volatility in December, the Company projects an average cost of power of approximately $0.035/kWh across its two sites. February 2023 Open Letter from TeraWulf Chairman and CEO Paul Prager . You can unsubscribe to any of the investor alerts you are subscribed to by visiting the unsubscribe section below. Co-Founder, Chairman & Chief Executive Officer, Co-Founder, Chief Operating Officer & Chief Technology Officer. Today, I write in gratitude: proud of our accomplishments, inspired by our extraordinary employees, and confident in our strategy. 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 . 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. Our operations team effectively maintained our mining operations and deployed additional miners at Lake Mariner during one of the harshest weather events to hit the region, while also supporting the grid during periods of extreme stress," stated Paul Prager, Co-founder and Chief Executive Officer of TeraWulf. 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. Item 1.01. 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. Press Releases. TeraWulf cofounder and CEO Paul Prager joins us to talk about his experience building a vertically-integrated, zero carbon Bitcoin miner. "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.". Previously, Mr. New was a senior member of the Distressed Finance Group at Credit Suisse and Donaldson, Lufkin and Jenrette. 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. What is Paul B. Successfully navigated extreme operating conditions during Winter Storm Elliot (the "Storm"), quickly returning to full output at the Storms close. Also Known As Paul B. Prager. 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. 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. August 11th, 2021, 2:00 PM PDT. Thats right, we bought at market while this transformational equity raise came at a modest discount to the market. All Rights Reserved. By providing your email address below, you are providing consent to TeraWulf to send you the requested Investor Email Alert updates. 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. Ted Carter became the eighth president of theUniversity of NebraskainJanuary 2020after retiring as Vice Admiral following 38 years of service in the U.S.Navy. 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. Paul Prager to Lead TeraWulf Foundation for Social Health Sustainability Programs January 13, 2022 by Spy Desk Email TeraWulf today announced the formation of the TeraWulf Charitable Foundation, a private, philanthropic organization focused on funding and participating in social health, environmental and sustainability programs. For the avoidance of doubt, I did not sell 12 million shares. What differentiates TeraWulf is that we own and operate our facilities, control our power supply and utilize 91%+ zero-carbon energy sources.. 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. 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. | Privacy Policy, February 2023 Open Letter from TeraWulf Chairman and CEO Paul Prager, An Open Letter from TeraWulf Chairman and CEO Paul Prager. 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. 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. Mr. Prager has extensive investment and entrepreneurial experience in international shipping, commodity . TeraWulf Inc. is a digital asset technology company, which is engaged in the business of sustainable bitcoin mining. Most recently, Mr. Deane was an executive with Heorot Power Holdings LLC, an owner and operator of power generation assets. You can unsubscribe to any of the investor alerts you are subscribed to by visiting the unsubscribe section below. Fleet of deployed miners reached approximately 18,000 with a hash rate capacity over 2.0 EH/s. Mr. Prager has extensive investment and entrepreneurial experience in international shipping, commodity trading and power generation. 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. He received his BSBA in economics from theUniversity of Arizona. 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. You can sign up for additional alert options at any time. En el noreste de Pensilvania, un singular Bitcoin experimento minero est a punto de entrar en lnea.. Llamado Nautilus, Terawulf est girando un instalacin minera de propulsin nuclear.. Nombre anunci en 2021, Terawulf dijo que cuando Nautilus est a plena capacidad ms adelante en el primer trimestre de este ao, la flota de 1 15,000 equipos de minera de la instalacin tendr . By providing your email address below, you are providing consent to TeraWulf to send you the requested Investor Email Alert updates. from the University of Pennsylvania. Path to Positive Cash Flow from Operations in 2023 and Beyond. San Juan, Puerto Rico 00901 . A graduate of the United States Naval Academy, Mr. Prager is a member of the investment committee and Trustee of the USNA Foundation. Mr. Farrell holds a B.S. 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.