Mr. Prager has also founded and has been the President of Beowulf Energy LLC and its. By providing your email address below, you are providing consent to TeraWulf to send you the requested Investor Email Alert updates. in Mechanical Engineering with a certificate in Biomedical Engineering from the University of Colorado Boulder. The . 2022 Terawulf. You can unsubscribe to any of the investor alerts you are subscribed to by visiting the unsubscribe section below. 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. Gender Male. 410-770-9500 (Name, Address and Telephone Number of Person . 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. TeraWulf will generate domestically produced bitcoin powered by nuclear, hydro and solar energy. 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. 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. 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. 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. Paul Prager, TeraWulf CEO and Founder, discusses crypto regulation and green mining. Id like to take a moment to highlight a few key milestones that we achieved during our first year as a public company: What differentiates TeraWulf is that we own and operate our facilities, control our power supply and utilize 91%+ zero-carbon energy sources. About 11,500 are proprietary miners with a hash rate capacity of approximately 1.4 EH/s. Mr. Fleury began his career in the Global Energy & Power Investment Banking Group at Banc of America Securities, LLC. A graduate of the United States Naval Academy, Mr. Prager is a member of the investment committee and Trustee of the USNA Foundation. TeraWulf, Inc. owns and operates fully integrated environmentally clean bitcoin mining facilities in the United States. from Duke University School of Law. Wenn Sie Ihre Auswahl anpassen mchten, klicken Sie auf Datenschutzeinstellungen verwalten. Ms. Langlais brings more than 20 years of M&A, financing, strategy and power sector experience. 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. Se non vuoi che noi e i nostri partner utilizziamo i cookie e i dati personali per questi scopi aggiuntivi, clicca su "Rifiuta tutto". An Open Letter to Shareholders from TeraWulf Chairman and CEO Paul Prager. Ms. Langlais also worked at Harvard University where she provided advisory to the Universitys overall financial strategy and planning. Co-Founder, and Chief Executive Officer of TeraWulf Inc. Self-mined 157 Bitcoin in January 2023, a >25% increase over December 2022. 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. Mr. Farrell holds a B.S. Prior to Beowulf, Mr. Khan worked at Evercore Partners Inc. in both investment banking and private equity. Most recently, Ms. Langlais was an executive at Beowulf Energy LLC, a leading private energy infrastructure company, where she led the companys M&A and financing efforts. Co-Founder, Chairman & Chief Executive Officer. Also Known As Paul B. Prager. TeraWulf Announces Closing of $28 Million Underwritten Equity Offering and Over-Allotment Option. Ms. Fleischmann holds a J.D. Bei der Nutzung unserer Websites und Apps verwenden wir, unsere Websites und Apps fr Sie bereitzustellen, Nutzer zu authentifizieren, Sicherheitsmanahmen anzuwenden und Spam und Missbrauch zu verhindern, und, Ihre Nutzung unserer Websites und Apps zu messen, personalisierte Werbung und Inhalte auf der Grundlage von Interessenprofilen anzuzeigen, die Effektivitt von personalisierten Anzeigen und Inhalten zu messen, sowie, unsere Produkte und Dienstleistungen zu entwickeln und zu verbessern. His career as an entrepreneur, executive, developer, and investor has spanned three decades and four continents, with success across a broad range of energy infrastructure projects. 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 met en place une usine minire alimente par l'nergie nuclaire appele Nautilus. He holds a B.S. 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. Before that, he was a Managing Director at Blackstones global credit platform, GSO Capital Partners. Mr. Fleury brings 22 years of finance experience, comprising of capital markets, principal investing, and advisory roles. Most recently, Mr. Deane was an executive with Heorot Power Holdings LLC, an owner and operator of power generation assets. 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. 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 Inc. is a digital asset technology company, which is engaged in the business of sustainable bitcoin mining. 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. "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 . 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. You can sign up for additional alert options at any time. Insider Trading. 4. 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. Press Releases. Paul Prager is the Co-Founder, Chairman of the Board, and Chief Executive Officer of TeraWulf Inc. Mr. Prager has extensive investment and entrepreneurial experience in international shipping, commodity . "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.". and a B.A. 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. On March 1, 2023 (the "Fifth Amendment Effective Date"), TeraWulf Inc. (the "Company") entered into an amendment (the "Fifth Amendment") to its Loan, Guaranty and Security Agreement, dated as of December 1, 2021 (as amended, modified or supplemented from time to time, the "Loan Agreement"), by and . You can sign up for additional alert options at any time. To opt-in for investor email alerts, please enter your email address in the field below and select at least one alert option. This has been our business for over 30 years. Be assured that I am here with you and will continue to personally invest in TeraWulf. Sie knnen Ihre Einstellungen jederzeit ndern, indem Sie auf unseren Websites und Apps auf den Link Datenschutz-Dashboard klicken. Item 1.01. Our corporate governance framework promotes accountability, transparency, and effective decision making to ensure the long-term success of the business. It has been four weeks since I shared my reflections on TeraWulfs achievements in 2022 and stated goals for 2023. TeraWulf cofounder and CEO Paul Prager joins us to talk about his experience building a vertically-integrated, zero carbon Bitcoin miner. You could say it all started with a bundt cake. . One member, TeraWulf, has pledged to run cryptocurrency mines using more than 90 percent zero-carbon energy. 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. 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. Paul B. Prager Chairman and Chief Executive Officer TeraWulf Inc. 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. If you experience any issues with this process, please contact us for further assistance. from Heidelberg University and an LL.M. A Peek Into the Origins of TeraWulf and Our Up-and-Coming Nuclear Facility. 3. Together, for more . As an Assistant U.S. Attorney, Ms. Prager handled federal cases involving terrorism, wire and mail fraud, economic espionage, and export control violations, among other matters. Terawulf a dclar pour la premire fois en 2021 que la flotte de 15 000 machines minires de Nautilus aura un taux de hachage de 1,6 exahash par seconde (EH/s) lorsqu'elle atteindra sa pleine capacit plus tard au premier trimestre de . February 2023 Open Letter from TeraWulf Chairman and CEO Paul Prager . 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. Prager has extensive investment and entrepreneurial experience in international shipping, commodity trading and power generation. Prior to Beowulf, Mr. Khan worked at Evercore Partners Inc. in both investment banking and private equity. | Privacy Policy. This past year, our management team invested over $15 million of our personal capital in the Company. April 22, 2022, 4:20 PM. He earned a BS in Finance, Economics & Accounting from Fordham University. 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. Paul Prager is the Co-Founder and Chief Executive Officer of TeraWulf Inc, and the Chairman of the Board of Directors. | Privacy Policy, TeraWulf Announces Closing of $28 Million Underwritten Equity Offering and Over-Allotment Option, TeraWulfs Nuclear Bitcoin Plant Is Just One Piece of the Green Mining Puzzle, TeraWulf Announces January 2023 Production and Operations Updates, TeraWulf Issues an Open Letter to Shareholders from Chairman and CEO, TeraWulf Announces Beneficial Debt Modifications and Approximately $32 Million of New Equity Proceeds, February 2023 Open Letter from TeraWulf Chairman and CEO Paul Prager, TeraWulf Announces Proposed Public Offering of Common Stock, First Nuclear-Powered Bitcoin Mine in US Opening in 2023, Americas first nuclear-powered Bitcoin mining center to open in Pennsylvania. All Rights Reserved. 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 . Mr. Khan received a B.S. Attended United States Naval Academy. Location New York, New York, United States. Nous, Yahoo, faisons partie de la famille de marques Yahoo. To opt-in for investor email alerts, please enter your email address in the field below and select at least one alert option. Webcast Mr. Pincus brings substantial risk management, financial oversight and operational expertise to the board of directors. Our industrial-scale mining facilities in New York and Pennsylvania will mine Bitcoin using cost-effective, zero-carbon energy. She has also served as General Counsel at Beowulf Energy LLC for nearly 15 years. What differentiates TeraWulf is that we own and operate our facilities, control our power supply and utilize 91%+ zero-carbon energy sources.. The Company is scheduled to receive over 18,000 additional miners from Bitmain over the coming months. Ms. Langlais also worked at Harvard University where she provided advisory to the Universitys overall financial strategy and planning. This past year was a transformational year for TeraWulf and the crypto industry at large. An Open Letter to Shareholders from TeraWulf Chairman and CEO Paul Prager. Mr. Khan received a B.S. 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. Mr. Carter is a Distinguished Flying Cross and Bronze Star recipient. TeraWulf Announces Proposed Public Offering of Common Stock . Energy Intensive Bitcoin Mining: Can the Use of Renewables Answer Critics of Cryptocurrency? You must click the activation link in order to complete your subscription. 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. Mr. Fleury began his career in the Global Energy & Power Investment Banking Group at Banc of America Securities, LLC. Because our confidence in TeraWulf is stronger than ever as we build upon, and begin to realize, our distinguishing advantages. from the University of Pennsylvania. He speaks with Guy Johnson and Alix . LinkedIn View on LinkedIn. February 2023 Dear Shareholders, . Forward-looking statements are based on the current expectations and beliefs of TeraWulfs management and are inherently subject to a number of factors, risks, uncertainties and assumptions and their potential effects. As a nearly entirely zero-carbon miner, we believe we are strategically positioned relative to our peers in what will be an increasingly stringent regulatory environment. Why? Today, the Companys wholly-owned Lake Mariner facility has approximately 60 MW of operational mining capacity, and TeraWulf expects to reach 110 MW of capacity at the facility in Q2 2023. Most recently, Ms. Langlais was an executive at Beowulf Energy LLC, a leading private energy infrastructure company, where she led the companys M&A and financing efforts. TeraWulf is led by an accomplished, diverse management team with 30+ years of experience in developing and managing energy infrastructure and disruptive technology. 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> She began her career at Freshfields and Willkie Farr & Gallagher LLP in New York and Frankfurt, Germany. By providing your email address below, you are providing consent to TeraWulf to send you the requested Investor Email Alert updates. 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. The Company maintains its estimated average power cost of approximately $0.035/kWh across its portfolio. Paul Prager is the Co-Founder and Chief Executive Officer of TeraWulf Inc, and the Chairman of the Board of Directors. 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 . Last month, I highlighted the industry-leading investment level our executive team has made in the Company and the commitment it demonstrates. 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. Prior to TeraWulf, Mr. Prager has been the Founder and CEO at Beowulf Energy LLC and predecessor companies since 1990. Paul Prager Co-Founder, Chairman & Chief Executive Officer Paul Prager is the Co-Founder, Chairman of the Board, and Chief Executive Officer of TeraWulf Inc. Company profile for TeraWulf Inc. including key executives, insider trading, ownership, revenue and average growth rates. Mr. Fleury received a BA, magna cum laude, in Economics and Government & Legal Studies from Bowdoin College. 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. Si vous souhaitez personnaliser vos choix, cliquez sur Grer les paramtres de confidentialit. Path to Positive Cash Flow from Operations in 2023 and Beyond. 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," TeraWulf chairman and CEO Paul Prager said . in Industrial Psychology & History from Washington & Lee University. TeraWulf (Nasdaq: WULF) owns and operates vertically integrated, environmentally clean Bitcoin mining facilities in the United States. 2022 Terawulf. Previous to this role, Mr. Bucella led the Institutional Global Equities business, also in Canada. 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. Enter TeraWulf, which believes it has a better way forward. TeraWulfs business is conducted by its employees and executive officers with oversight from a distinguished and diversified board of directors. 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. We are prepared to demonstrate the importance of what we do and how we do it. This is HUGE. Mr. Prager has extensive investment and entrepreneurial experience in international shipping, commodity trading and power generation. Authorized to Receive Notices and Communications) January 30, 2023 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. 1 Source: Cambridge Bitcoin Electricity Consumption Index (CBECI) (ccaf.io). and M.S. Today, I write in gratitude:. We believe these strategic steps will position TeraWulf forlong-term, sustainable growth. 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. Feb 2 2023. Mr. Deane brings more than 20 years of financial and operational experience in the power, high tech and public accounting sectors. Meltem Demirors, Chief Strategy Officer . 22. 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.. 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. 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. dvelopper et amliorer nos produits et services. 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. Compare what we share: the breadth and depth of real data, with unbridled transparency, in a timely way. Paul Prager is the Chairman of the Board of Directors. 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. TeraWulf Announces January 2023 Production and Operations Updates. 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. in Economics from Allegheny College and a J.D. He is also part of the global Corporate Risk and Broking leadership team. Lisa Pragerserves as General Counsel and Executive Vice President of the Agricultural Bank ofChinaNew YorkBranch. I exchanged shares for warrants to free up available authorized common stock, ahead of our shareholder meeting later this month, to increase the Companys authorized common shares. It is led by energy entrepreneur Paul Prager and a seasoned team with many leadership positions held by women, including Chief Strategy . 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. Mining Disrupt Conference July 25-27, 2023 Miami . Prior to NovaWulf, Mr. New was the Head of Onex Credit, a leading asset manager with more than $23 billion of assets under management. 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 . Ms. Motz also taught as an adjunct professor at theUniversity of Maryland School of Law. 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. And if you dont want to invest in a bitcoin mining company, call us. Ms. Langlais received her BA in Finance and graduated with honors from Boston College. Before joining Semtech, Mr. Harrison held analyst positions with increasing levels of responsibility at Wunderlich Securities, Signal Hill Capital Group and Pacific Growth Equities. 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.