. and a B.A. Paul B. Prager is the largest individual Terawulf shareholder, owning 25.05M shares representing 19.52% of the company. Path to Positive Cash Flow from Operations in 2023 and Beyond. Insider Trading. Prior to TeraWulf, Mr. Prager has been the Founder and CEO at Beowulf Energy LLC and predecessor companies since 1990. 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. Beowulf is led by its founder, Chairman, and Chief Executive Officer, Paul B. Prager. Attended United States Naval Academy. Prior to Beowulf, Mr. Khan worked at Evercore Partners Inc. in both investment banking and private equity. She later served as a Deputy Attorney General for theDistrict of Columbiagovernment, representing the city's child welfare and mental health agencies. All Rights Reserved. A Peek Into the Origins of TeraWulf and Our Up-and-Coming Nuclear Facility. Prior to TeraWulf, Mr. Prager has been the Founder and CEO at Beowulf Energy LLC and predecessor companies since 1990. This is HUGE. Under his leadership, theU.S. | Privacy Policy, February 2023 Open Letter from TeraWulf Chairman and CEO Paul Prager, An Open Letter from TeraWulf Chairman and CEO Paul Prager. If you experience any issues with this process, please contact us for further assistance. Ms. Motz previously served on the University System ofMaryland BoardofRegentsfromJune 2014throughMarch 2015 and as a Deputy Chief of Staff to Maryland GovernorMartin O'Malley. ESG is at the core of TeraWulfs corporate strategy and ties directly to its business success, risk mitigation, and reputational value. "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 . 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"). in Industrial Psychology & History from Washington & Lee University. 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. 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. 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. The company was founded on February 8, 2021 and is headquartered in Easton, MD. 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. Successfully navigated extreme operating conditions during Winter Storm Elliot (the "Storm"), quickly returning to full output at the Storms close. TeraWulf Announces Closing of $28 Million Underwritten Equity Offering and Over-Allotment Option. Prager Paul B. C/O TERAWULF INC. 9 FEDERAL STREET EASTON, MD 21601 X X Chief Executive Officer Signatures /s/ Paul B. Prager 3/1/2023 HYPERLINK "" \l "**Signature of Reporting Person Date Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. 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. Thats right, we bought at market while this transformational equity raise came at a modest discount to the market. 4. Be assured that I am here with you and will continue to personally invest in TeraWulf. 1. Mr. Harrison holds an MBA in Finance & Accounting from Loyola University and a B.A. Paul Prager to Lead TeraWulf Foundation for Social Health Sustainability Programs January 13, 2022 by Spy Desk Email TeraWulf today announced the formation of the TeraWulf Charitable Foundation, a private, philanthropic organization focused on funding and participating in social health, environmental and sustainability programs. He was an original Partner of GSO and a member of its Management Committee and Investment Committee. 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. 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. TeraWulf will generate domestically produced bitcoin powered by nuclear, hydro and solar energy. . April 22, 2022, 4:20 PM. TeraWulf. Together, for more . 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. 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. At TeraWulf, we promise to treat your data with respect and will not share your information with any third party. "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. 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. and M.S. 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 Companys filings with the SEC, which are available at www.sec.gov. 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. mostrarti annunci e contenuti personalizzati in base ai profili di interesse; misurare l'efficacia di annunci e contenuti personalizzati; sviluppare e migliorare i nostri prodotti e servizi. Mr. Fleury began his career in the Global Energy & Power Investment Banking Group at Banc of America Securities, LLC. Authorized to Receive Notices and Communications) January 30, 2023 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. Your trust and confidence in TeraWulf have helped us build a remarkable company. 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. Prager has extensive investment and entrepreneurial experience in international shipping, commodity trading and power generation. 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 . Paul Prager Chief Executive Officer; Director: 1388889: Award at $ 0. . Bitcoin Miami - LIVE Panel with TeraWulf CEO Paul Prager - TeraWulf Inc. 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.. 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 . While there has been significant progress this year, much more remains to be done. Today, I write in gratitude:. Ms. Langlais also worked at Harvard University where she provided advisory to the Universitys overall financial strategy and planning. She has also served as General Counsel at Beowulf Energy LLC for nearly 15 years. He holds a B.S. 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. Paul Prager is the Co-Founder and Chief Executive Officer of TeraWulf Inc, and the Chairman of the Board of Directors. in history and earned a J.D. 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. Mr. Prager has extensive investment and entrepreneurial experience in international shipping, commodity trading and power generation. About 11,500 are proprietary miners with a hash rate capacity of approximately 1.4 EH/s. Prior to TeraWulf, Mr. Prager has been the Founder and CEO at Beowulf Energy LLC and predecessor companies since 1990. mesurer votre utilisation de nos sites et applications. 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> Mr. Fleury began his career in the Global Energy & Power Investment Banking Group at Banc of America Securities, LLC. Mr. Farrell has over 12 years of energy experience in renewables, grid optimization, digitalization and storage cross-business solutions. 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. Khan received a B.S. Our priority continues to be reducing costs and deploying those resources towards the Companys path to positive cash flow from operations in 2023. 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. After submitting your request, you will receive an activation email to the requested email address. Sie knnen Ihre Einstellungen jederzeit ndern, indem Sie auf unseren Websites und Apps auf den Link Datenschutz-Dashboard klicken. Compare what we share: the breadth and depth of real data, with unbridled transparency, in a timely way. 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. Stefanie Fleischmann is General Counsel & Secretary of TeraWulf Inc., where she oversees all legal and compliance matters for the company. Green bitcoin miner TeraWulf going public via reverse merger. Since the Storms departure, New York market prices have corrected to pre-December levels. Paul Prager is the Co-Founder, Chairman of the Board, and Chief Executive Officer of TeraWulf Inc. 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). Mr. Farrell holds a B.S. TeraWulf Retweeted. . I believe that is more than any leadership team in the sector and underscores our confidence in WULFs mission and what we are building. With over 40 years of experience, Mr. Pincus has extensive experience in the energy and high-tech sectors. Co-Founder, Chairman & Chief Executive Officer. TeraWulf, Inc. owns and operates fully integrated environmentally clean bitcoin mining facilities in the United States. Stefanie Fleischmann is Chief Legal Officer and Corporate Secretary of TeraWulf Inc., where she oversees all legal and compliance matters for the company. This has been our business for over 30 years. Paul B Prager owns about 31,534,679 units of Terawulf Inc common stock. Paul Prager is the Chairman, Co-Founder & CEO at TeraWulf. 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. There can be no assurance that future developments will be those that have been anticipated. 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. Mr. Fleury received a BA, magna cum laude, in Economics and Government & Legal Studies from Bowdoin College. TeraWulf cofounder and CEO Paul Prager joins us to talk about his experience building a vertically-integrated, zero carbon Bitcoin miner. TeraWulf Announces Proposed Public Offering of Common Stock . Michael Bucella is a Partner and Global Head of Strategic Partnerships for BlockTower Capital, a leading institutional cryptocurrency investment firm bringing professional trading and portfolio management to an emerging digital asset class. Mr. New brings to the board of directors a wealth of experience in complex financial structuring and optimization in a public company setting. In this installment of the mining miniseries we cover: Paul's career trajectory from coal trading to energy infrastructure to Bitcoin Beowulf's deal with Marat Gender Male. The Company operates approximately 18,000 Bitcoin miners with a hash rate capacity over 2.0 EH/s at its Lake Mariner facility. 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. "Everyone I talk to now is talking about carbon neutrality," said Paul Prager . 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. Ms. Langlais also worked at Harvard University where she provided advisory to the Universitys overall financial strategy and planning. TeraWulf Inc. is a digital asset technology company, which is engaged in the business of sustainable bitcoin mining. Klicken Sie auf Alle ablehnen, wenn Sie nicht mchten, dass wir und unsere Partner Cookies und personenbezogene Daten fr diese zustzlichen Zwecke verwenden. Yahoo fa parte della famiglia di brand di Yahoo. Item 1.01. A graduate of the United States Naval Academy, Mr. Prager is a member of the investment committee and Trustee of the USNA Foundation. You can unsubscribe to any of the investor alerts you are subscribed to by visiting the unsubscribe section below. Most recently, he ran the Multi-Asset Sales & Trading business in Canada and led efforts to expand this strategy globally. 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. Read our most recent investor deck here. A graduate of the United States Naval Academy, Mr. Prager is a member of the investment committee and Trustee of the USNA Foundation. 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. Prior to TeraWulf, Mr. Prager has been the Founder and CEO at Beowulf Energy LLC and predecessor companies since 1990. Ms. Fleischmann holds a J.D. 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. He received his BSBA in economics from theUniversity of Arizona. TeraWulf is led by an accomplished, diverse management team with 30+ years of experience in developing and managing energy infrastructure and disruptive technology. TeraWulf (Nasdaq: WULF) owns and operates vertically integrated, environmentally clean Bitcoin mining facilities in the United States. February 2023 Dear Shareholders, . He began his career at AIG and held senior roles at Johnson & Higgins and Aon. 1 December 2022 results are based on estimated power costs, which remain subject to standard month end adjustments. 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. With a core focus on ESG that ties directly to its business success, TeraWulf expects to offer attractive mining economics at an industrial scale. . Mr. Fleury brings 22 years of finance experience, comprising of capital markets, principal investing, and advisory roles. 2022 Terawulf. TeraWulf is led by an accomplished, diverse management team with 30+ years of experience in developing and managing energy infrastructure and disruptive technology. February 2023 Open Letter from TeraWulf Chairman and CEO Paul Prager . TeraWulf is led by an accomplished, diverse management team with 30+ years of experience in developing and managing energy infrastructure and disruptive technology. New Executive Interview with TeraWulf CTO and COO Nazar Khan. from Heidelberg University and an LL.M. in Industrial Psychology & History from Washington & Lee University. 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. Paul Prager, Chairman & Chief Executive Officer of TeraWulf, said, "We are thrilled to join the Bitcoin Mining Council and are honored to support sustainable bitcoin mining. 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. 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. 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. 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. 22. We believe these strategic steps will position TeraWulf forlong-term, sustainable growth. 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. Last month, I highlighted the industry-leading investment level our executive team has made in the Company and the commitment it demonstrates. TeraWulf generates domestically produced Bitcoin powered by nuclear, hydro, and solar energy with a goal of utilizing 100% zero-carbon energy. 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. In energy markets, location is everything and our sites are in robust, developed markets that provide premier value for the grid services we provide. You can sign up for additional alert options at any time. For the avoidance of doubt, I did not sell 12 million shares. Mr. Farrell holds a B.S. Despite weather-related price volatility in December, the Company projects an average cost of power of approximately $0.035/kWh across its two sites. Patrick Fleury is the Chief Financial Officer of TeraWulf Inc., where he is responsible for directing and overseeing the financial activities of the Company, including investment of funds and additional capital for expansion. Se vuoi personalizzare le tue scelte, clicca su "Gestisci le impostazioni per la privacy". Prior to Beowulf, Mr. Khan worked at Evercore Partners Inc. in both investment banking and private equity. After several weeks of constructive dialogue with our lenders, we have reached an agreement on modifying the terms of our debt to eliminate near-term amortization and thereby optimize TeraWulfs financial flexibility through market cycles. Prior to Beowulf, Mr. Khan worked at Evercore Partners Inc. in both investment banking and private equity.