"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. New has over 26 years of investment experience and, previous to Onex, was a Senior Managing Director of Blackstone and Co-Head of Distressed and Special Situation Investing for GSO Capital Partners (GSO). afficher des publicits et des contenus personnaliss en fonction de vos profils de centres dintrt; mesurer lefficacit des publicits et contenus personnaliss; et. 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. You can sign up for additional alert options at any time. 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 Economics from Allegheny College and a J.D. This has been our business for over 30 years. An Open Letter to Shareholders from TeraWulf Chairman and CEO Paul Prager. in Industrial Psychology & History from Washington & Lee University. To opt-in for investor email alerts, please enter your email address in the field below and select at least one alert option. 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. He began his career at AIG and held senior roles at Johnson & Higgins and Aon. San Juan, Puerto Rico 00901 . from Boston University and is admitted to practice law in New York and Germany. 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. . 2022 Terawulf. 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. Most recently, he ran the Multi-Asset Sales & Trading business in Canada and led efforts to expand this strategy globally. "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 . Fifth Amendment to Loan Agreement. 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. Prior to TeraWulf, Mr. Prager has been the Founder and CEO at Beowulf Energy LLC and predecessor companies since 1990. This is HUGE. Ms. Motz also taught as an adjunct professor at theUniversity of Maryland School of Law. Before entering private practice, Ms. Prager was a federal prosecutor in the U.S. Attorneys Office for the District of Columbia, as well as Acting Assistant Secretary and Deputy Assistant Secretary for Export Enforcement at the U.S. Department of Commerces Bureau of Industry and Security. 53 Palmeras Street, Suite 601 . You can unsubscribe to any of the investor alerts you are subscribed to by visiting the unsubscribe section below. 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. from Heidelberg University and an LL.M. in Mechanical Engineering with a certificate in Biomedical Engineering from the University of Colorado Boulder. Jason New is the Co-Founder and Managing Partner of NovaWulf Digital Management, an institutionally focused digital asset infrastructure investment firm. With over 40 years of experience, Mr. Pincus has extensive experience in the energy and high-tech sectors. 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. Successfully navigated extreme operating conditions during Winter Storm Elliot (the "Storm"), quickly returning to full output at the Storms close. Press Releases. 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. Mr. Deane brings more than 20 years of financial and operational experience in the power, high tech and public accounting sectors. TeraWulf is an infrastructure-focused bitcoin mining company accelerating the transition to a zero-carbon future. Prior to NovaWulf, Mr. New was the Head of Onex Credit, a leading asset manager with more than $23 billion of assets under management. Ms. Motz brings to the board of directors extensive leadership and public policy experience. "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 . Nous, Yahoo, faisons partie de la famille de marques Yahoo. 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. Paul Prager "TeraWulf " BTC TeraWulf 100% BTC A graduate of the United States Naval Academy, Mr. Prager is a member of the investment committee and Trustee of the USNA Foundation. 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. | Privacy Policy, February 2023 Open Letter from TeraWulf Chairman and CEO Paul Prager, An Open Letter from TeraWulf Chairman and CEO Paul Prager. 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. Founded in 2021 by Nazar Khan and Paul Prager, who were senior executives of Beowulf, an energy infrastructure company Prager had launched in 1990, Terawulf pitched itself as a "leading. Mr. Harrison brings decades of experience in financial and marketing communications, equity research, financial analysis, and strategic planning. 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 . 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. Previous to this role, Mr. Bucella led the Institutional Global Equities business, also in Canada. 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. Ms. Motz graduated summa cum laude fromDartmouth Collegewith a B.A. August 11th, 2021, 2:00 PM PDT. He earned a BS in Finance, Economics & Accounting from Fordham University. "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 . What differentiates TeraWulf is that we own and operate our facilities, control our power supply and utilize 91%+ zero-carbon energy sources.. 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. 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. I said that I was right alongside you as a shareholder and that I would continue to invest personally in TeraWulf. and a B.A. To opt-in for investor email alerts, please enter your email address in the field below and select at least one alert option. You must click the activation link in order to complete your subscription. CEO Paul Prager discusses moving from energy industry, next gen bitcoin mining, joining forces with Gwyneth Paltrow. . He was an original Partner of GSO and a member of its Management Committee and Investment Committee. Power volatility in 2022 underscored the importance of power contracts. 410-770-9500 (Name, Address and Telephone Number of Person . 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. Before that, he was a Managing Director at Blackstones global credit platform, GSO Capital Partners. You must click the activation link in order to complete your subscription. Lisa Pragerserves as General Counsel and Executive Vice President of the Agricultural Bank ofChinaNew YorkBranch. 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. Mr. Fleury brings 22 years of finance experience, comprising of capital markets, principal investing, and advisory roles. For the avoidance of doubt, I did not sell 12 million shares. . TeraWulf is led by an accomplished, diverse management team with 30+ years of experience in developing and managing energy infrastructure and disruptive technology. 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. You can unsubscribe to any of the investor alerts you are subscribed to by visiting the unsubscribe section below. 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. Mining Disrupt Conference July 25-27, 2023 Miami . In this installment of the mining miniseries we cover: Paul's career trajectory from coal trading to energy infrastructure to Bitcoin Beowulf's deal with Marat 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. Co-Founder, Chairman & Chief Executive Officer. 1 December 2022 results are based on estimated power costs, which remain subject to standard month end adjustments. Ms. Prager brings broad legal, compliance, and regulatory expertise to the TeraWulf board of directors. 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. from Heidelberg University and an LL.M. Feb 1 2023. 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. 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. . Mr. Farrell has over 12 years of energy experience in renewables, grid optimization, digitalization and storage cross-business solutions. Ms. Langlais brings more than 20 years of M&A, financing, strategy and power sector experience. 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. Most recently, Mr. Deane was an executive with Heorot Power Holdings LLC, an owner and operator of power generation assets. 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. Mr. Farrell holds a B.S. Sie knnen Ihre Einstellungen jederzeit ndern, indem Sie auf unseren Websites und Apps auf den Link Datenschutz-Dashboard klicken. Our corporate governance framework promotes accountability, transparency, and effective decision making to ensure the long-term success of the business. By providing your email address below, you are providing consent to TeraWulf to send you the requested Investor Email Alert updates. 3. Terawulf met en place une usine minire alimente par l'nergie nuclaire appele Nautilus. Paul B. Prager Chairman and Chief Executive Officer TeraWulf Inc. TeraWulf went public after it agreed in June to merge with Ikonics . Last month, I highlighted the industry-leading investment level our executive team has made in the Company and the commitment it demonstrates. Prior to BlockTower, Mr. Bucella spent nearly a decade with Goldman Sachs in a variety of roles. Paul B. Prager's Terawulf shares are currently valued at $15.81M. By providing your email address below, you are providing consent to TeraWulf to send you the requested Investor Email Alert updates. 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. Prior to TeraWulf, Mr. Prager has been the Founder and CEO at Beowulf Energy LLC and predecessor companies since 1990. Webcast Paul B. Prager is the largest individual Terawulf shareholder, owning 25.05M shares representing 19.52% of the company. in accounting from the University of Florida. Attended United States Naval Academy. Ms. Prager received a B.A. The Company is scheduled to receive over 18,000 additional miners from Bitmain over the coming months. Mr. Harrison brings decades of experience in financial and marketing communications, equity research, financial analysis, and strategic planning. Mr. Khan received a B.S. Klicken Sie auf Alle ablehnen, wenn Sie nicht mchten, dass wir und unsere Partner Cookies und personenbezogene Daten fr diese zustzlichen Zwecke verwenden. She began her career at Freshfields and Willkie Farr & Gallagher LLP in New York and Frankfurt, Germany. 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. from the University of Pennsylvania. Naval Academy, his alma matter. Enter TeraWulf, which believes it has a better way forward. 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. 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, TeraWulf CEO and Founder, discusses crypto regulation and green mining. Prior to TeraWulf, Mr. Prager has been the Founder and CEO at Beowulf Energy LLC and predecessor companies since 1990. I exchanged shares for warrants to free up available authorized common stock, ahead of our shareholder meeting later this month, to increase the Companys authorized common shares. Mr. New brings to the board of directors a wealth of experience in complex financial structuring and optimization in a public company setting. TeraWulf generates domestically produced Bitcoin powered by nuclear, hydro, and solar energy with a goal of utilizing 100% zero-carbon energy. 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. He earned a B.A. Mr. Pincus brings substantial risk management, financial oversight and operational expertise to the board of directors. Ms. Langlais also worked at Harvard University where she provided advisory to the Universitys overall financial strategy and planning. 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. Energy Intensive Bitcoin Mining: Can the Use of Renewables Answer Critics of Cryptocurrency? Paul Prager is the Co-Founder, Chairman and CEO of TeraWulf Inc., a leading clean energy digital asset company. Before joining Semtech, Mr. Harrison held analyst positions with increasing levels of responsibility at Wunderlich Securities, Signal Hill Capital Group and Pacific Growth Equities. After submitting your request, you will receive an activation email to the requested email address. He holds a B.S. Puoi modificare le tue scelte in qualsiasi momento cliccando sui link "Dashboard privacy" sui nostri siti e sulle nostre app. 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. Power volatility in 2022 underscored the importance of power contracts. Self-mined 157 Bitcoin in January 2023, a >25% increase over December 2022. 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. At TeraWulf, we promise to treat your data with respect and will not share your information with any third party. 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. Insider Trading. 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 . She has also served as General Counsel at Beowulf Energy LLC for nearly 15 years. Meltem Demirors, Chief Strategy Officer . 4. Path to Positive Cash Flow from Operations in 2023 and Beyond. 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. Actual results may vary materially from those expressed or implied by forward-looking statements based on a number of factors, risks, uncertainties and assumptions, including, among others: (1) conditions in the cryptocurrency mining industry, including fluctuation in the market pricing of Bitcoin and other cryptocurrencies, and the economics of cryptocurrency mining, including as to variables or factors affecting the cost, efficiency and profitability of cryptocurrency mining; (2) competition among the various providers of cryptocurrency mining services; (3) changes in applicable laws, regulations and/or permits affecting TeraWulfs operations or the industries in which it operates, including regulation regarding power generation, cryptocurrency usage and/or cryptocurrency mining; (4) the ability to implement certain business objectives and to timely and cost-effectively execute integrated projects; (5) failure to obtain adequate financing on a timely basis and/or on acceptable terms with regard to growth strategies or operations (6) loss of public confidence in Bitcoin or other cryptocurrencies and the potential for cryptocurrency market manipulation (7) the potential of cybercrime, money-laundering, malware infections and phishing and/or loss and interference as a result of equipment malfunction or break-down, physical disaster, data security breach, computer malfunction or sabotage (and the costs associated with any of the foregoing) (8) the availability, delivery schedule and cost of equipment necessary to maintain and grow the business and operations of TeraWulf, including mining equipment and infrastructure equipment meeting the technical or other specifications required to achieve its growth strategy; (9) employment workforce factors, including the loss of key employees; (10) litigation relating to TeraWulf, RM 101 f/k/a IKONICS Corporation and/or the business combination; (11) the ability to recognize the anticipated objectives and benefits of the business combination; and (12) other risks and uncertainties detailed from time to time in the Companys filings with the Securities and Exchange Commission ("SEC").