Mr. Bucella brings to the board of directors extensive capital markets experience, institutional knowledge, and deep experience in the digital asset space. 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 . Regions Greater New York Area, East Coast, Northeastern US. 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. Most recently, Mr. Deane was an executive with Heorot Power Holdings LLC, an owner and operator of power generation assets. 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"). 410-770-9500 (Name, Address and Telephone Number of Person . 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. Thats right, we bought at market while this transformational equity raise came at a modest discount to the market. and M.S. You can unsubscribe to any of the investor alerts you are subscribed to by visiting the unsubscribe section below. Chairman of the Board, Chief Executive Officer, Co-Founder . In the matter of just a few weeks, we raised what we plan to be the final funding needed to bridge the Company to self-sustaining operations, only a few months away. And if you dont want to invest in a bitcoin mining company, call us. 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. Proprietary mining produced 125 Bitcoin in December 22, pushing Q4 22 total to 378 Bitcoin, reflecting a more than 220% increase over the Bitcoin produced in Q3 22, Total fleet of deployed miners reached 18,000 with over 2.0 EH/s of hash rate as of December 31, 2022, On track to bring additional 15,000 miners online at Nautilus Cryptomine in Q1 2023. 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. 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. Mr. Our operations team effectively maintained our mining operations and deployed additional miners at Lake Mariner during one of the harshest weather events to hit the region, while also supporting the grid during periods of extreme stress," stated Paul Prager, Co-founder and Chief Executive Officer of TeraWulf. Mr. Harrison brings decades of experience in financial and marketing communications, equity research, financial analysis, and strategic planning. 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. Before joining Semtech, Mr. Harrison held analyst positions with increasing levels of responsibility at Wunderlich Securities, Signal Hill Capital Group and Pacific Growth Equities. He earned a BS in Finance, Economics & Accounting from Fordham University. With a core focus on ESG that ties directly to its business success, TeraWulf expects to offer attractive mining economics at an industrial scale. Successfully navigated extreme operating conditions during Winter Storm Elliot (the "Storm"), quickly returning to full output at the Storms close. Mr. Prager has extensive investment and entrepreneurial experience in international shipping, commodity trading and power generation. Press Releases. Prior to TeraWulf, Mr. Prager has been the Founder and CEO at Beowulf Energy LLC and predecessor companies since 1990. Mr. New brings to the board of directors a wealth of experience in complex financial structuring and optimization in a public company setting. Si vous souhaitez personnaliser vos choix, cliquez sur Grer les paramtres de confidentialit. in Mechanical Engineering with a certificate in Biomedical Engineering from the University of Colorado Boulder. 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. An Open Letter to Shareholders from TeraWulf Chairman and CEO Paul Prager. TeraWulf is an infrastructure-focused bitcoin mining company accelerating the transition to a zero-carbon future. Most recently, Mr. Deane was an executive with Heorot Power Holdings LLC, an owner and operator of power generation assets. "For 2023, we plan to aggressively expand our deployed hash rate as we continue to receive miner shipments with a goal of reaching 5.5 EH/s of sustainable, operating mining capacity.". To opt-in for investor email alerts, please enter your email address in the field below and select at least one alert option. Jason New is the Co-Founder and Managing Partner of NovaWulf Digital Management, an institutionally focused digital asset infrastructure investment firm. The total cost of. 2022 Terawulf. Paul B. Prager Chairman and Chief Executive Officer TeraWulf Inc. "TeraWulf's ability to raise private capital underscores the attractiveness of bringing a new paradigm for cryptocurrency mining to the public markets," CEO Paul Prager said in a statement. 4. 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. TeraWulf Announces Closing of $28 Million Underwritten Equity Offering and Over-Allotment Option. As further evidence of my conviction, I have not sold a share, directly or indirectly. Feb 2 2023. and M.S. Kenneth Deane is the Chief Accounting Officer and Treasurer of TeraWulf Inc., where he is responsible for managing the Companys financial functions, including accounting, audit, internal control and treasury. Mr. Deane brings more than 20 years of financial and operational experience in the power, high tech and public accounting sectors. Steven Pincusserves as an Executive Vice President with global insurance companyWillis Towers Watsonand is the Global Head of Broking for the firm's FINEX business. Mr. Prager has also founded and has been the President of Beowulf Energy LLC and its. Paul Prager. Last month, I highlighted the industry-leading investment level our executive team has made in the Company and the commitment it demonstrates. He holds a B.S. Event Details Bitcoin Miami - LIVE Panel with TeraWulf CEO Paul Prager April 8, 2022 12:45 PM ET Tune into Bitcoin Miami's LIVE Mining Stage stream featuring TeraWulf's CEO, Paul Prager. If you experience any issues with this process, please contact us for further assistance. and a B.A. Mr. Harrison brings decades of experience in financial and marketing communications, equity research, financial analysis, and strategic planning. Prior to Beowulf, Mr. Khan worked at Evercore Partners Inc. in both investment banking and private equity. 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. The approximate remaining 6,500 miners (0.7 EH/s) are operated pursuant to hosting arrangements where the Company receives a fee and participates financially in mining profits. Lorsque vous utilisez nos sites et applications, nous utilisons des, authentifier les utilisateurs, appliquer des mesures de scurit, empcher les spams et les abus; et. "Everyone I talk to now is talking about carbon neutrality," said Paul Prager, the CEO of TeraWulf. A graduate of the United States Naval Academy, Mr. Prager is a member of the investment committee and Trustee of the USNA Foundation. 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. This past year, our management team invested over $15 million of our personal capital in the Company. TeraWulf went public after it agreed in June to merge with Ikonics . 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. She has also served as General Counsel at Beowulf Energy LLC for nearly 15 years. 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 . Compare what we share: the breadth and depth of real data, with unbridled transparency, in a timely way. in Industrial Psychology & History from Washington & Lee University. By providing your email address below, you are providing consent to TeraWulf to send you the requested Investor Email Alert updates. Nazar Khan is the Co-Founder, Chief Operating Officer, Chief Technology Officer, and Board Member of TeraWulf Inc. Mr. Khan brings tremendous experience in energy infrastructure and cryptocurrency mining and has led TeraWulfs business strategy since day one. 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. Previously, Mr. New was a senior member of the Distressed Finance Group at Credit Suisse and Donaldson, Lufkin and Jenrette. 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. 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. Location New York, New York, United States. fromYale Universityand J.D. Before that, he was a Managing Director at Blackstones global credit platform, GSO Capital Partners. Stefanie Fleischmann is General Counsel & Secretary of TeraWulf Inc., where she oversees all legal and compliance matters for the company. All Rights Reserved. TeraWulf is led by an accomplished, diverse management team with 30+ years of experience in developing and managing energy infrastructure and disruptive technology. One member, TeraWulf, has pledged to run cryptocurrency mines using more than 90 percent zero-carbon energy. San Juan, Puerto Rico 00901 . TeraWulf Announces Closing of $28 Million Underwritten Equity Offering and Over-Allotment Option. 2022 Terawulf. Sincerely, Paul Prager Chairman and Chief Executive Officer About TeraWulf TeraWulf (Nasdaq: WULF) owns. At TeraWulf, we promise to treat your data with respect and will not share your information with any third party. Paul Prager to Speak at the 2022 Bitcoin Conference February 22, 2022 Yahoo Finance Bitcoin mining as 'energy infrastructure': TeraWulf CEO details zero carbon emission operation December 14, 2021 New York Times A New Focus on Amazon Warehouses December 13, 2021 Seeking Alpha Gwyneth Paltrow invests in green bitcoin miner TeraWulf 12> Ms. Motz previously served on the University System ofMaryland BoardofRegentsfromJune 2014throughMarch 2015 and as a Deputy Chief of Staff to Maryland GovernorMartin O'Malley. Quando utilizzi i nostri siti e le nostre app, noi utilizziamo i. autenticare gli utenti, applicare misure di sicurezza e prevenire spam e abusi; misurare l'utilizzo dei nostri siti e delle nostre app. He earned a B.A. Energy Intensive Bitcoin Mining: Can the Use of Renewables Answer Critics of Cryptocurrency. Webcast Ms. Motz also taught as an adjunct professor at theUniversity of Maryland School of Law. 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). from Heidelberg University and an LL.M. ESG is at the core of TeraWulfs corporate strategy and ties directly to its business success, risk mitigation, and reputational value. 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. Read our most recent investor deck here. Twitter View on Twitter. 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. Our priority continues to be reducing costs and deploying those resources towards the Companys path to positive cash flow from operations in 2023. The Nautilus Cryptomine facility, a joint venture with Talen Energy Corporation, is in the initial stages of ramping its mining operations and is expected to provide 50 MW of net mining capacity to TeraWulf in Q1 2023, representing the Companys 25% interest in the joint venture. Mr. Fleury brings 22 years of finance experience, comprising of capital markets, principal investing, and advisory roles. Mr. Prager has extensive investment and entrepreneurial experience in international shipping, commodity trading and power generation. . As we transition into 2023 and strive to execute our plan and pursue growth, we will operate with several clear priorities: So, I will close where I started with a sincere thank you. You can unsubscribe to any of the investor alerts you are subscribed to by visiting the unsubscribe section below. Terawulf aims to promote eco-friendly Bitcoin mining Terawulf advertised itself as a "leading sustainable Bitcoin mining firm" when it was founded in 2021 by Nazar Khan and Paul Prager, who. 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. TeraWulf cofounder and CEO Paul Prager joins us to talk about his experience building a vertically-integrated, zero carbon Bitcoin miner. 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. Naval Academy, his alma matter. Mr. Farrell has over 12 years of energy experience in renewables, grid optimization, digitalization and storage cross-business solutions. 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 . TeraWulf Inc. WULF ("TeraWulf" or the . Paul Prager is the Co-Founder, Chairman and CEO of TeraWulf Inc., a leading clean energy digital asset company. Paul Prager is the Co-Founder and Chief Executive Officer of TeraWulf Inc, and the Chairman of the Board of Directors. from Duke University School of Law. All Rights Reserved. Ms. Langlais received her BA in Finance and graduated with honors from Boston College. Green bitcoin miner TeraWulf going public via reverse merger. 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. After submitting your request, you will receive an activation email to the requested email address. Item 1.01. If you want to invest in a bitcoin mining company, come to TeraWulf. She began her career at Freshfields and Willkie Farr & Gallagher LLP in New York and Frankfurt, Germany. Authorized to Receive Notices and Communications) January 30, 2023 Prior to TeraWulf, Mr. Prager has been the Founder and CEO at Beowulf Energy LLC and predecessor companies since 1990. 3. You must click the activation link in order to complete your subscription. Sie knnen Ihre Einstellungen jederzeit ndern, indem Sie auf unseren Websites und Apps auf den Link Datenschutz-Dashboard klicken. Paul Weiss, Rifkind, Wharton & Garrison LLP is serving as legal advisor and Moelis & Company LLC acted as exclusive placement agent to TeraWulf in connection with the debt and equity financing.. Paul Prager, CEO and Founder of bitcoin mining company TeraWulf, on how they are generating environmentally sustainable bitcoin and crypto mining practices. Mr. Harrison holds an MBA in Finance & Accounting from Loyola University and a B.A. Let me quickly highlight what undeniably sets WULF apart from our peers: Every move from this point forward is about advancingourmissionandpushingthe boundaries of what is possible for our business and our shareholders. What is Paul B. "Our ability to secure this new capital, together with the near-term deployment of the S19 XP miners at Lake Mariner, is further indication of TeraWulf's continued momentum," said 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. TeraWulf Inc. (Nasdaq: WULF) ("TeraWulf" or the "Company"), which owns and operates vertically integrated, domestic Bitcoin mining facilities powered by more than 91% zero-carbon energy, today announced that today announced that the Company's Co-founder, Chairman and Chief Executive Officer, Paul Prager, has issued an open letter to shareholders. TeraWulf Inc. is a digital asset technology company, which is engaged in the business of sustainable bitcoin mining. 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 . Mr. Carter is a Distinguished Flying Cross and Bronze Star recipient. Co-Founder, Chairman & Chief Executive Officer, Co-Founder, Chief Operating Officer & Chief Technology Officer. | Privacy Policy, February 2023 Open Letter from TeraWulf Chairman and CEO Paul Prager, An Open Letter from TeraWulf Chairman and CEO Paul Prager. In the last 2 years at Terawulf Inc, Paul B Prager has sold an estimated value of $0 worth. "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 . "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. Ms. Langlais also worked at Harvard University where she provided advisory to the Universitys overall financial strategy and planning. All Rights Reserved. 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. Bitcoin Miami - LIVE Panel with TeraWulf CEO Paul Prager - TeraWulf Inc. New Executive Interview with TeraWulf CTO and COO Nazar Khan. 22. Mr. Khan received a B.S. Such forward-looking statements include statements concerning anticipated future events and expectations that are not historical facts. Mr. Fleury began his career in the Global Energy & Power Investment Banking Group at Banc of America Securities, LLC. 2022 Terawulf. 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. Mining Disrupt Conference July 25-27, 2023 Miami . Paul B Prager owns about 31,534,679 units of Terawulf Inc common stock. We believe these strategic steps will position TeraWulf forlong-term, sustainable growth. 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. Prior to TeraWulf, Mr. Prager has been the Founder and CEO at Beowulf Energy LLC and predecessor companies since 1990. Meltem Demirors, Chief Strategy Officer . Naval Academyreached the No. While there has been significant progress this year, much more remains to be done. I said that I was right alongside you as a shareholder and that I would continue to invest personally in TeraWulf. 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. TeraWulfs business is conducted by its employees and executive officers with oversight from a distinguished and diversified board of directors. Together, for more . What differentiates TeraWulf is that we own and operate our facilities, control our power supply and utilize 91%+ zero-carbon energy sources.. from the University of Pennsylvania. 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 facilities powered by more than 91% zero-carbon energy, provided an unaudited monthly production and operations update for December 2022. 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. Gender Male. 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. Ms. Motz brings to the board of directors extensive leadership and public policy experience. 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. He was an original Partner of GSO and a member of its Management Committee and Investment Committee. in Mechanical Engineering with a certificate in Biomedical Engineering from the University of Colorado Boulder. Attended United States Naval Academy. Mr. Prager has extensive investment and entrepreneurial experience in international shipping, commodity trading and power generation. Paul Prager is the Chairman of the Board of Directors. 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. You could say it all started with a bundt cake. All Rights Reserved. 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. Enter TeraWulf, which believes it has a better way forward. Also Known As Paul B. Prager. Paul Prager and his family had been flying via helicopter between Manhattan and Easton, Maryland, for many yearsChesapeake Bay retrievers in towsplitting time between their five-bedroom Fifth Avenue co-op perched over the Met and their 250-acre estate on the Miles River, called Maiden Point Farm.

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