Terawulf Inc - WULF STOCK NEWS

TeraWulf Inc. (NASDAQ: WULF) reported significant operational improvements in January 2023. The company self-mined 157 Bitcoin, a 25% increase from December 2022. They operated a fleet of 18,000 miners with a hash rate capacity exceeding 2.0 EH/s. Average power cost per Bitcoin fell to $9,470, reinforcing their industry-leading position. The Nautilus Cryptomine facility remains on track for energization in Q1 2023, contributing to a targeted total capacity of 5.5 EH/s with 50,000 miners by early Q2 2023.

TeraWulf (NASDAQ: WULF) has announced key developments through an open letter from CEO Paul Prager, highlighting the company's progress towards positive cash flow in 2023. Notably, TeraWulf has modified debt terms to eliminate near-term amortization, enhancing financial flexibility. The company recently raised additional funds deemed necessary for self-sustaining operations. Prager confirmed a personal investment of $2.5 million, alongside COO Nazar Khan, signaling strong executive confidence. TeraWulf aims to produce Bitcoin from 91% zero-carbon energy at competitive costs, emphasizing its industry-leading facilities and future expansion potential.

TeraWulf Inc. (NASDAQ: WULF) announced a significant restructuring of its debt and raised $32 million in equity, aimed at achieving positive free cash flow by Q2 2023. The company has modified loan terms to defer principal payments until April 2024, contingent upon an equity capital raise by March 15, 2023. The latest steps expect to enhance their operational capacity to 160 MW and 5.5 EH by mid-2023, leveraging over 91% zero-carbon energy for Bitcoin mining. Management has also made substantial personal investments to bolster the company's financial position.

TeraWulf Inc. (NASDAQ: WULF) has announced an underwritten public offering of its common stock, with the potential for an additional 15% from the underwriter. The shares will be sold by TeraWulf, and the proceeds are intended for general corporate purposes, which may include working capital and capital expenditures. The offering is being executed under a shelf registration statement filed with the SEC. TeraWulf operates Bitcoin mining facilities powered by over 91% zero-carbon energy, aiming to achieve 100% zero-carbon energy in its operations.

TeraWulf Inc. (WULF) reported a significant increase in Bitcoin production, self-mining 125 Bitcoin in December 2022, totaling 378 Bitcoin in Q4 2022, a 223% rise from Q3 2022. The deployed miner fleet reached 18,000, achieving over 2.0 EH/s in hash rate. The company plans to bring an additional 15,000 miners online in Q1 2023, while maintaining low power costs at approximately $0.035/kWh. Despite operational challenges during Winter Storm Elliot, TeraWulf expects to expand to 5.5 EH/s capacity by early Q2 2023.

TeraWulf Inc. (Nasdaq: WULF) released an open letter from Chairman and CEO Paul Prager, acknowledging a transformative year in the cryptocurrency industry and expressing gratitude to stakeholders. Key achievements include commencing mining operations at the Lake Mariner facility, reaching over 2 EH/s, and completing constructions at Nautilus Cryptomine. The company aims to achieve 49,000 miners by Q1 2023 and leverage a blended power cost of $0.035/kWh, which is 30% lower than the industry average. TeraWulf focuses on environmentally friendly bitcoin mining, using over 91% zero-carbon energy.

TeraWulf Inc. has restructured its purchase agreement with Bitmain, increasing its self-mining capacity by 8,200 miners, bringing the total to 44,450 miners and a hash rate of 5.0 EH/s. This expansion utilizes the full 160 MW mining capacity expected in Q1 2023, with operational capacity at both Lake Mariner and Nautilus Cryptomine. The company has also raised approximately $10 million to repay a convertible promissory note and terminate a standby equity purchase agreement with Yorkville. TeraWulf aims to maintain its position as a low-cost Bitcoin producer, targeting an average power cost of $0.035/kWh.

TeraWulf Inc. (WULF) reported a strong operational update for November 2022. The company self-mined 134 Bitcoin, a 13% increase from October's production. Power costs decreased significantly to approximately $0.035/kWh, down from $0.058/kWh the previous month. TeraWulf also achieved a hash rate capacity of 2.0 EH/s with a fleet of 17,500 miners. The company remains on track for the Nautilus Cryptomine facility energization in Q1 2023, expecting to increase its total hash rate to 4.3 EH/s. These developments highlight TeraWulf's competitive position in the Bitcoin mining industry.

TeraWulf Inc. (Nasdaq: WULF) announced operational updates and ongoing cost-reduction initiatives to enhance resilience amidst low Bitcoin prices. The Lake Mariner facility is unaffected by New York's moratorium on fossil fuel-powered mining. TeraWulf reported a current capacity of 60 MW, with a self-mining rate of approximately 4.6 Bitcoin per day. They anticipate a total mining capacity of 6.6 EH/s by Q1 2023. Cost-reduction initiatives aim for over 25% run-rate savings. The company remains focused on utilizing sustainable energy, with 91% of energy sourced from zero-carbon methods.