TeraWulf Inc.’s Board of Directors Authorizes $200 Million Share Repurchase Program
TeraWulf announced a $200 million share repurchase program authorized by its Board of Directors, running through December 31, 2025. The company plans to use excess cash for repurchases after prioritizing capital expenditures for organic growth in HPC/AI and strategic opportunities. The program follows TeraWulf's recent debt retirement and reflects confidence in its business strategy and financial health. The repurchase timing, method, price, and volume will be discretionary, with purchases possible through open market transactions, private negotiations, or investment banking structures. The company maintains flexibility to modify or discontinue the program.
TeraWulf ha annunciato un programma di riacquisto di azioni da 200 milioni di dollari autorizzato dal suo Consiglio di Amministrazione, valido fino al 31 dicembre 2025. L'azienda prevede di utilizzare il cash in eccesso per i riacquisti dopo aver dato priorità ai capitali investiti per la crescita organica nell'HPC/AI e alle opportunità strategiche. Il programma segue il recente rimborso del debito da parte di TeraWulf e riflette fiducia nella sua strategia aziendale e nella salute finanziaria. La tempistica, il metodo, il prezzo e il volume del riacquisto saranno discrezionali, con acquisti possibili tramite transazioni nel mercato aperto, trattative private o strutture bancarie d'investimento. L'azienda mantiene la flessibilità di modificare o interrompere il programma.
TeraWulf anunció un programa de recompra de acciones por 200 millones de dólares autorizado por su Junta Directiva, que estará en vigor hasta el 31 de diciembre de 2025. La empresa planea utilizar el exceso de efectivo para las recompras después de priorizar los gastos de capital para el crecimiento orgánico en HPC/IA y oportunidades estratégicas. El programa sigue a la reciente eliminación de deudas de TeraWulf y refleja confianza en su estrategia empresarial y salud financiera. El momento, método, precio y volumen de la recompra serán discrecionales, con compras posibles a través de transacciones en el mercado abierto, negociaciones privadas o estructuras de banca de inversión. La empresa mantiene flexibilidad para modificar o discontinuar el programa.
TeraWulf는 이사회의 승인을 받아 2억 달러 규모의 자사주 매입 프로그램을 발표했으며, 이는 2025년 12월 31일까지 유효합니다. 회사는 HPC/AI의 유기적 성장 및 전략적 기회를 위한 자본 지출을 우선시한 후, 남는 현금을 통해 매입을 진행할 계획입니다. 이 프로그램은 TeraWulf의 최근 채무 상환에 이어지며, 회사의 비즈니스 전략 및 재무 건전성에 대한 신뢰를 반영합니다. 매입의 시기, 방식, 가격 및 수량은 재량에 따라 결정되며, 공개 시장 거래, 개인 협상 또는 투자 은행 구조를 통해 매입이 가능할 것입니다. 회사는 프로그램을 수정하거나 중단할 수 있는 유연성을 유지하고 있습니다.
TeraWulf a annoncé un programme de rachat d'actions de 200 millions de dollars approuvé par son conseil d'administration, valable jusqu'au 31 décembre 2025. L'entreprise prévoit d'utiliser les liquidités excédentaires pour les rachats après avoir priorisé les investissements en capital pour la croissance organique dans HPC/IA et les opportunités stratégiques. Ce programme suit le récent remboursement de la dette de TeraWulf et reflète la confiance dans sa stratégie commerciale et sa santé financière. Le moment, la méthode, le prix et le volume du rachat resteront à la discrétion, avec des achats possibles par le biais de transactions sur le marché libre, de négociations privées ou de structures bancaires d'investissement. L'entreprise conserve la flexibilité de modifier ou d'interrompre le programme.
TeraWulf gab bekannt, dass ein Aktienrückkaufprogramm über 200 Millionen US-Dollar von seinem Vorstand genehmigt wurde, das bis zum 31. Dezember 2025 laufen wird. Das Unternehmen plant, überschüssige Mittel für Rückkäufe zu nutzen, nachdem es Investitionen in organisches Wachstum in HPC/AI und strategische Chancen priorisiert hat. Das Programm folgt der jüngsten Schuldenrückzahlung von TeraWulf und spiegelt das Vertrauen in die Geschäftsstrategie und die finanzielle Gesundheit wider. Der Zeitpunkt, die Methode, der Preis und das Volumen des Rückkaufs werden nach Ermessen entschieden, wobei Käufe über offene Markttransaktionen, private Verhandlungen oder Investmentbanking-Strukturen möglich sind. Das Unternehmen behält sich die Flexibilität vor, das Programm zu ändern oder einzustellen.
- Authorization of $200 million share repurchase program through 2025
- Complete retirement of company debt
- Strong cash position enabling share buybacks while maintaining growth investments
- Significant cash allocation to buybacks may limit funds for operational growth
- No guarantee of completing the full $200 million repurchase program
Insights
The
The buyback program is particularly notable given TeraWulf's position in the high-growth HPC/AI infrastructure space. The company's prioritization hierarchy - maintaining growth investments first, followed by strategic acquisitions and then share repurchases - demonstrates a balanced approach to capital allocation. The emphasis on using "excess cash" suggests this won't impede operational investments.
EASTON, Md., Oct. 23, 2024 (GLOBE NEWSWIRE) -- TeraWulf Inc. (Nasdaq: WULF) (“TeraWulf” or the “Company”), a leading owner and operator of vertically integrated, next-generation digital infrastructure powered by predominantly zero-carbon energy, today announced that its Board of Directors approved a share repurchase program authorizing the Company to repurchase up to
The share repurchase program reflects the Company’s confidence in its business strategy and financial health. TeraWulf intends to repurchase shares using excess cash, prioritizing this initiative after disciplined capital expenditures aimed at supporting organic growth in HPC/AI and evaluating strategic opportunities, such as potential site acquisitions.
“We have taken decisive steps to strengthen our balance sheet, including fully retiring our debt earlier this year, while making substantial progress in executing our business strategy,” said Paul Prager, Chief Executive Officer of TeraWulf. “These achievements reinforce our confidence in TeraWulf’s long-term vision. With a stronger financial foundation, we are well-positioned to optimize our capital allocation. The Board’s approval of a
When determining the amount of capital to be allocated to share repurchases, TeraWulf will consider various factors, including historical and projected business performance, cash flow, liquidity, and prevailing global economic and market conditions. The Company will also assess the market price of its common stock.
The timing, method, price, and volume of any share repurchases will be at the Company’s discretion. Purchases may be made through open market transactions, privately negotiated transactions, or through investment banking structures, among other avenues, subject to applicable laws. The Company is not obligated to repurchase a specific number of shares and retains the right to modify, suspend, or discontinue the program at any time.
About TeraWulf
TeraWulf develops, owns, and operates environmentally sustainable, next-generation data center infrastructure in the United States, specifically designed for Bitcoin mining and high-performance computing. Led by a team of seasoned energy entrepreneurs, the Company owns and operates the Lake Mariner facility situated on the expansive site of a now retired coal plant in Western New York. Currently, TeraWulf generates revenue primarily through Bitcoin mining, leveraging predominantly zero-carbon energy sources, including nuclear and hydroelectric power. Committed to environmental, social, and governance (ESG) principles that align with its business objectives, TeraWulf aims to deliver industry-leading economics in mining and data center operations at an industrial scale.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, as amended. Such forward-looking statements include statements concerning anticipated future events and expectations that are not historical facts. All statements, other than statements of historical fact, are statements that could be deemed forward-looking statements. 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. Forward-looking statements are based on the current expectations and beliefs of TeraWulf’s management and are inherently subject to a number of factors, risks, uncertainties and assumptions and their potential effects. There can be no assurance that future developments will be those that have been anticipated. 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 TeraWulf’s operations or the industries in which it operates, including regulation regarding power generation, cryptocurrency usage and/or cryptocurrency mining, and/or regulation regarding safety, health, environmental and other matters, which could require significant expenditures; (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) adverse geopolitical or economic conditions, including a high inflationary environment; (8) 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); (9) 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; (10) employment workforce factors, including the loss of key employees; (11) litigation relating to TeraWulf and/or its business; and (12) other risks and uncertainties detailed from time to time in the Company’s filings with the Securities and Exchange Commission (“SEC”). 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. TeraWulf does not assume any obligation to publicly update any forward-looking statement after it was made, whether as a result of new information, future events or otherwise, except as required by law or regulation. 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 Company’s filings with the SEC, which are available at www.sec.gov.
Investors:
Investors@terawulf.com
Media:
media@terawulf.com
FAQ
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