Ms. Langlais received her BA in Finance and graduated with honors from Boston College. This past year, our management team invested over $15 million of our personal capital in the Company. Prior to TeraWulf, Mr. Prager has been the Founder and CEO at Beowulf Energy LLC and predecessor companies since 1990. 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 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. Co-Founder, Chairman & Chief Executive Officer. from the University of Pennsylvania. 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. For the last 8 years, he served as Vice President of Investor Relations at Semtech Corporation, managing and growing the investor relations program. 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 . "December represented another month of robust growth for TeraWulf. from the University of Pennsylvania. Ms. Motz previously served on the University System ofMaryland BoardofRegentsfromJune 2014throughMarch 2015 and as a Deputy Chief of Staff to Maryland GovernorMartin O'Malley. 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. All statements, other than statements of historical fact, are statements that could be deemed forward-looking statements. Weitere Informationen ber die Verwendung Ihrer personenbezogenen Daten finden Sie in unserer Datenschutzerklrung und unserer Cookie-Richtlinie. 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. from Boston University and is admitted to practice law in New York and Germany. He holds a B.S. 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. Ms. Prager brings broad legal, compliance, and regulatory expertise to the TeraWulf board of directors. 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"). Prior to TeraWulf, Mr. Prager has been the Founder and CEO at Beowulf Energy LLC and predecessor companies since 1990. 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 . Finally, as you consider investing in the space, look at our public disclosures. "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 . Today, I write in gratitude: proud of our accomplishments, inspired by our extraordinary employees, and confident in our strategy. Jason New is the Co-Founder and Managing Partner of NovaWulf Digital Management, an institutionally focused digital asset infrastructure investment firm. 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. from the University of Pennsylvania. Beowulf is led by its founder, Chairman, and Chief Executive Officer, Paul B. Prager. 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. Self-mined 157 Bitcoin in January 2023, a >25% increase over December 2022. Co-Founder, Chairman & Chief Executive Officer. To opt-in for investor email alerts, please enter your email address in the field below and select at least one alert option. Our priority continues to be reducing costs and deploying those resources towards the Companys path to positive cash flow from operations in 2023. By providing your email address below, you are providing consent to TeraWulf to send you the requested Investor Email Alert updates. 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. Our corporate governance framework promotes accountability, transparency, and effective decision making to ensure the long-term success of the business. and M.S. Read More WULF Stock News Headlines Press Releases. We will remain laser-focused on scaling mining operations at our existing sites while opportunistically pursuing strategic opportunities in a financially responsible manner. Also Known As Paul B. Prager. Most recently, Mr. Carter served as Superintendent of theU.S. February 2023 Dear Shareholders, . Prior to Beowulf, Mr. Khan worked at Evercore Partners Inc. in both investment banking and private equity. Mr. Farrell holds a B.S. She began her career at Freshfields and Willkie Farr & Gallagher LLP in New York and Frankfurt, Germany. 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. You could say it all started with a bundt cake. Ms. Langlais received her BA in Finance and graduated with honors from Boston College. 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. . 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. in Economics from Allegheny College and a J.D. Chairman of the Board, Chief Executive Officer, Co-Founder . 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. Prager has extensive investment and entrepreneurial experience in international shipping, commodity trading and power generation. TeraWulf is led by an accomplished, diverse management team with 30+ years of experience in developing and managing energy infrastructure and disruptive technology. 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. 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. 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. 2022 Terawulf. The company was founded on February 8, 2021 and is headquartered in Easton, MD. 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. If you experience any issues with this process, please contact us for further assistance. 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 . 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. 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. Deployed fleet of 18,000 miners exceeding hash rate . 2022 Terawulf. Paul Prager is the Chief Executive Officer and the chair of the board of directors of TeraWulf. What differentiates TeraWulf is that we own and operate our facilities, control our power supply and utilize 91%+ zero-carbon energy sources.. You can unsubscribe to any of the investor alerts you are subscribed to by visiting the unsubscribe section below. 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. 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. And in that short period, our team has accomplished key milestones that we believe will be foundational in achieving our . Mr. Harrison holds an MBA in Finance & Accounting from Loyola University and a B.A. Compare what we share: the breadth and depth of real data, with unbridled transparency, in a timely way. Enter TeraWulf, which believes it has a better way forward. Co-Founder, and Chief Executive Officer of TeraWulf Inc. 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. 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"). Item 1.01. Mr. Prager has extensive investment and entrepreneurial experience in international shipping, commodity trading and power generation. If you experience any issues with this process, please contact us for further assistance. Our industrial-scale mining facilities in New York and Pennsylvania will mine Bitcoin using cost-effective, zero-carbon energy. Mr. Prager has extensive investment and entrepreneurial experience in international shipping, commodity trading and power generation. dvelopper et amliorer nos produits et services. Marathon Patent Group Company Contact: Jason Assad Telephone: 678-570-6791 As further evidence of my conviction, I have not sold a share, directly or indirectly. He is also part of the global Corporate Risk and Broking leadership team. 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 is the Co-Founder and Chief Executive Officer of TeraWulf Inc, and the Chairman of the Board of Directors. Green bitcoin miner TeraWulf going public via reverse merger. Today, I write in gratitude: proud of our accomplishments, inspired by our extraordinary employees, and confident in our strategy. 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. In energy markets, location is everything and our sites are in robust, developed markets that provide premier value for the grid services we provide. An Open Letter to Shareholders from TeraWulf Chairman and CEO Paul Prager. 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. By providing your email address below, you are providing consent to TeraWulf to send you the requested Investor Email Alert updates. He received his BSBA in economics from theUniversity of Arizona. 1 Source: Cambridge Bitcoin Electricity Consumption Index (CBECI) (ccaf.io). 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. 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. and a B.A. 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. At TeraWulf, we promise to treat your data with respect and will not share your information with any third party. He began his career at AIG and held senior roles at Johnson & Higgins and Aon. Paul Prager Chief Executive Officer; Director: 1388889: Award at $ 0. . 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. Terawulf (NASDAQ: WULF) is owned by 9.57% institutional shareholders, 79.43% Terawulf insiders, and 11.00% retail investors. Previously, Mr. New was a senior member of the Distressed Finance Group at Credit Suisse and Donaldson, Lufkin and Jenrette. We are prepared to demonstrate the importance of what we do and how we do it. Sie knnen Ihre Einstellungen jederzeit ndern, indem Sie auf unseren Websites und Apps auf den Link Datenschutz-Dashboard klicken. A graduate of the United States Naval Academy, Mr. Prager is a member of the investment committee and Trustee of the USNA Foundation. Be assured that I am here with you and will continue to personally invest in TeraWulf. 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. By providing your email address below, you are providing consent to TeraWulf to send you the requested Investor Email Alert updates. TeraWulf Announces Closing of $28 Million Underwritten Equity Offering and Over-Allotment Option. Gender Male. 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. Before joining Semtech, Mr. Harrison held analyst positions with increasing levels of responsibility at Wunderlich Securities, Signal Hill Capital Group and Pacific Growth Equities. 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. 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 . Mr. Fleury began his career in the Global Energy & Power Investment Banking Group at Banc of America Securities, LLC. 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. 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. Co-Founder, Chief Operating Officer & Chief Technology Officer. Location New York, New York, United States. 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. "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 generates domestically produced Bitcoin powered by nuclear, hydro, and solar energy with a goal of utilizing 100% zero-carbon energy. 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 . She also served as Deputy Legal Counsel to Governor O'Malley and as the Interim Director of the Governor's Office for Children. TeraWulf Inc. WULF ("TeraWulf" or the . To opt-in for investor email alerts, please enter your email address in the field below and select at least one alert option. Your trust and confidence in TeraWulf have helped us build a remarkable company. Most recently, Mr. Deane was an executive with Heorot Power Holdings LLC, an owner and operator of power generation assets. Dear Shareholders, It has been four weeks since I shared my reflections on TeraWulf's achievements in 2022 and stated goals for 2023. You can sign up for additional alert options at any time. 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. All Rights Reserved. Previous to this role, Mr. Bucella led the Institutional Global Equities business, also in Canada. Sincerely, Paul Prager Chairman and Chief Executive Officer About TeraWulf TeraWulf (Nasdaq: WULF) owns. Because our confidence in TeraWulf is stronger than ever as we build upon, and begin to realize, our distinguishing advantages. Co-Founder, and Chief Executive Officer of TeraWulf Inc. Si vous souhaitez personnaliser vos choix, cliquez sur Grer les paramtres de confidentialit. ESG is at the core of TeraWulfs corporate strategy and ties directly to its business success, risk mitigation, and reputational value. 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. Paul B. Prager Chairman and Chief Executive Officer TeraWulf Inc. 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. Ms. Langlais also worked at Harvard University where she provided advisory to the Universitys overall financial strategy and planning. 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. Co-Founder, and Chief Executive Officer of TeraWulf Inc. At TeraWulf, we promise to treat your data with respect and will not share your information with any third party. He began his career at AIG and held senior roles at both Johnson & Higgins and Aon. 410-770-9500 (Name, Address and Telephone Number of Person . . and M.S. Mr. Prager has extensive investment and entrepreneurial experience in international shipping, commodity trading and power generation. Mr. Farrell has over 12 years of energy experience in renewables, grid optimization, digitalization and storage cross-business solutions. "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 . in Mechanical Engineering with a certificate in Biomedical Engineering from the University of Colorado Boulder. TeraWulf cofounder and CEO Paul Prager joins us to talk about his experience building a vertically-integrated, zero carbon Bitcoin miner. "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. He speaks with Guy Johnson and Alix . 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. Stefanie Fleischmann is Chief Legal Officer and Corporate Secretary of TeraWulf Inc., where she oversees all legal and compliance matters for the company. TeraWulf is led by an accomplished, diverse management team with 30+ years of experience in developing and managing energy infrastructure and disruptive technology. Path to Positive Cash Flow from Operations in 2023 and Beyond. from Boston University and is admitted to practice law in New York and Germany. CEO Paul Prager discusses moving from energy industry, next gen bitcoin mining, joining forces with Gwyneth Paltrow. You can unsubscribe to any of the investor alerts you are subscribed to by visiting the unsubscribe section below. Despite weather-related price volatility in December, the Company projects an average cost of power of approximately $0.035/kWh across its two sites. The . Ms. Langlais also worked at Harvard University where she provided advisory to the Universitys overall financial strategy and planning. In energy markets, location is everything and our sites are in robust, developed markets that provide premier value for the grid services we provide.