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TeraWulf Inc. (Nasdaq: WULF) is a leading digital asset technology company committed to sustainable bitcoin mining operations. As the world's first ESG-dedicated crypto mining company, TeraWulf combines innovative technology and green energy to produce bitcoin with over 90% zero-carbon energy. The company operates its mining facilities within the United States, leveraging clean, affordable, and reliable energy sources.
TeraWulf's core business revolves around the mining of bitcoin, which it conducts at two primary sites: the Lake Mariner facility in New York and the Nautilus Cryptomine facility in Pennsylvania, a joint venture with Cumulus Coin, LLC. The company's facilities utilize nuclear, hydro, and solar energy, with a goal of achieving 100% zero-carbon energy utilization. This environmentally friendly approach not only reduces carbon emissions but also offers significant economic benefits.
In 2023, TeraWulf made remarkable strides in its financial and operational milestones. The company achieved a self-mining operating capacity of 7.9 EH/s by the end of 2023, a substantial increase from the 1.4 EH/s recorded at the end of 2022. As of February 29, 2024, the company had a self-mining hash rate of 7.5 EH/s with approximately 64,500 miners deployed across its facilities.
Noteworthy financial achievements include a significant reduction in debt by $40 million as of February 29, 2024, and a robust liquidity position with $49 million in cash and cash equivalents. TeraWulf's strategic plan aims to expand its operational capacity to 300 MW by the end of 2024 and 550 MW by the end of 2025, positioning itself as a leader in the digital infrastructure and sustainable energy sector.
In addition to its core bitcoin mining operations, TeraWulf is actively exploring opportunities in High-Performance Computing (HPC) and Artificial Intelligence (AI). These advanced applications are expected to optimize the utilization of the company's proprietary infrastructure, unlocking additional value.
Recent developments in March 2024 include a 10% efficiency improvement in the mining fleet at the Lake Mariner facility, attributed to third-party firmware implementation. The company also continues to engage in demand response programs, reflecting its commitment to operational efficiency and resource management.
As TeraWulf moves forward, it remains dedicated to perfecting green energy crypto mining and maintaining industry-leading economics. The company's ongoing projects include the construction of Building 4 at the Lake Mariner facility, expected to increase total operational mining capacity to approximately 10 EH/s by mid-2024. Moreover, TeraWulf is finalizing the design for a large-scale HPC/AI project at the Lake Mariner site.
For the latest updates and detailed financial information, investors are encouraged to visit TeraWulf's official website and investor relations section.
TeraWulf (WULF) reported strong financial results for Q4 and full year 2024, with annual revenue increasing 102% to $140.1 million and adjusted EBITDA rising 89% to $60.4 million year-over-year. The company expanded its self-mining capacity by 94% to 9.7 EH/s compared to 5.0 EH/s in 2023.
Key financial highlights include strengthened balance sheet with $274.1 million in cash and bitcoin holdings, elimination of legacy term loan debt, and a new 2.75% convertible notes issuance due 2030. The company has executed over $150 million of its authorized $200 million share repurchase program.
Strategic developments include expansion into AI-driven HPC hosting, with signed long-term data center lease agreements with Core42 for 72.5 MW capacity, expected to generate $1 billion in cumulative revenue over initial 10-year terms. The company monetized its 25% equity stake in Nautilus for $85 million to reinvest in Lake Mariner's HPC hosting capabilities.
TeraWulf Inc. (Nasdaq: WULF), a leading owner and operator of vertically integrated, next-generation digital infrastructure powered by predominantly zero-carbon energy, has scheduled its fourth quarter and year-end 2024 earnings conference call for February 28, 2025, at 8:00 a.m. ET.
The company will release its detailed financial results press release prior to the call on the same day. The earnings call will be accessible via webcast and telephone dial-in options. A replay of the call will be available until March 14, 2025.
TeraWulf (WULF), a leading owner and operator of vertically integrated, next-generation digital infrastructure powered by predominantly zero-carbon energy, has announced its participation in multiple upcoming investor and industry conferences throughout Q1 2025.
The conference schedule includes:
- Needham Growth Conference (Virtual) - January 16
- CfC St. Moritz in Switzerland - January 15-17
- PTC 25 in Honolulu - January 19-22
- Cantor Tech Ski Summit in Telluride - January 22-25
- Susquehanna Technology Conference in New York - February 27-28
- Bitcoin Ski Summit in Jackson Hole - March 5-9
- Cantor NY Tech Conference in New York - March 11-12
- Roth 2025 in Dana Point - March 16-18
TeraWulf (WULF) has announced significant developments in December 2024, securing high-performance computing data center leases with Core42 for over 70 MW, representing potential revenue exceeding $1 billion over a 10-year term. The company mined 158 bitcoin in December at an average power cost of $62,805 per bitcoin ($0.078/kWh).
The company achieved 9.7 EH/s of installed self-mining capacity, marking a 94% year-over-year increase. Construction of miner building 5 (MB-5, 50 MW) is progressing on schedule for completion in mid-Q1 2025. TeraWulf's operational bitcoin mining capacity stands at 195 MW, with December's average hash rate at 8.4 EH/s. Core42 maintains an option for an additional 135 MW capacity for early 2026.
TeraWulf (NASDAQ: WULF) has signed long-term data center lease agreements with Core42, a G42 subsidiary, to deliver over 70 megawatts of turn-key data center infrastructure at the Lake Mariner facility in Upstate New York. The infrastructure will be deployed between Q1 and Q3 2025, featuring Dell Integrated Rack Scalable Solutions with direct liquid cooled GPU servers.
The agreement includes two five-year renewal options and provisions for expanding hosting capacity by an additional 135 MW gross (108 MW critical IT load). This strategic move marks TeraWulf's expansion into AI-driven computing while maintaining its Bitcoin mining operations, leveraging predominantly zero-carbon energy sources.
TeraWulf (NASDAQ: WULF) released its November 2024 operations update, highlighting the completion of critical electrical upgrades at Lake Mariner facility. The company self-mined 115 bitcoin with an average daily production rate of 3.8 bitcoin, maintaining 8.4 EH/s of operational self-mining capacity, representing a 68% year-over-year increase.
Key achievements include installing approximately 7,400 S21 Pro miners, achieving an average power cost of $41,190 per bitcoin mined ($0.051/kWh), and completing planned outages for high-voltage redundant power feeds. The company remains on schedule to deliver 72.5 MW of HPC hosting capacity by Q2 2025, with construction of MB-5 proceeding as planned.
TeraWulf has promoted Sean Farrell to Chief Operating Officer, effective immediately. Farrell, who previously served as Senior Vice President of Operations, will continue reporting to CTO Nazar Khan. With over 13 years of experience in the energy sector, Farrell's promotion aims to enhance the company's high-performance computing and AI data center capabilities. Prior to TeraWulf, he was North American Head of Onshore Sales and Marketing at Siemens Gamesa Renewable Energy Inc. The appointment reflects TeraWulf's focus on operational excellence and organic growth in digital infrastructure operations.
TeraWulf announced its Q3 2024 financial results, reporting revenue of $27.1 million, a 42.8% increase year-over-year. The company achieved a non-GAAP adjusted EBITDA of $6.0 million, down 33.6% from Q3 2023. TeraWulf's operational self-mining capacity grew 100% to 10.0 EH/s. Key strategic activities included selling its Nautilus JV interest, securing a new ground lease at Lake Mariner, a $500 million convertible note offering, and a $200 million share buyback.
TeraWulf self-mined 555 bitcoin, a 43.4% decrease from Q3 2023, with the value per bitcoin self-mined increasing 117.3% to $61,075. Power cost per bitcoin self-mined rose to $30,448 due to increased network difficulty and bitcoin halving. The company completed a 2.5 MW HPC hosting project and is expanding its HPC infrastructure.
CEO Paul Prager emphasized the company's strong positioning for growth, while CFO Patrick Fleury highlighted the $500 million financing to support growth plans through mid-2025.
TeraWulf (WULF) released its October 2024 production update, reporting 150 self-mined bitcoin with an average daily production of 4.8 BTC. The company maintained 8.1 EH/s of operational self-mining capacity, a 62% year-over-year increase. Average power cost was $36,789 per bitcoin mined ($0.048/kWh). The company is progressing with its miner refresh program at Lake Mariner, replacing older models with 12,200 S19 XP miners. TeraWulf is accelerating its HPC hosting initiatives, targeting 72.5 MW of capacity by Q2 2025, including the construction of CB-1 (20 MW) and CB-2 (50 MW) facilities.
TeraWulf (Nasdaq: WULF), a leading owner and operator of vertically integrated digital infrastructure powered by zero-carbon energy, has scheduled its third quarter 2024 earnings conference call for Tuesday, November 12, 2024, at 5:00 p.m. ET. The company will release its financial results press release prior to the call on the same day. The earnings call will be accessible via webcast and dial-in options, with replay available until November 26, 2024.
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