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August 11th, 2021, 2:00 PM PDT. 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. 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. 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. 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. 2022 Terawulf. You could say it all started with a bundt cake. 1 December 2022 results are based on estimated power costs, which remain subject to standard month end adjustments. Her distinguished career in both nonprofit and government will help TeraWulf execute on its strategy of sustainable growth and community impact. 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. Se non vuoi che noi e i nostri partner utilizziamo i cookie e i dati personali per questi scopi aggiuntivi, clicca su "Rifiuta tutto". Your trust and confidence in TeraWulf have helped us build a remarkable company. Today, I write in gratitude:. 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. Such forward-looking statements include statements concerning anticipated future events and expectations that are not historical facts. Paul B Prager owns about 31,534,679 units of Terawulf Inc common stock. and a B.A. from Boston University and is admitted to practice law in New York and Germany. All Rights Reserved. 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, Chairman & Chief Executive Officer of TeraWulf, said, "We are thrilled to join the Bitcoin Mining Council and are honored to support sustainable bitcoin mining. All Rights Reserved. Mr. Khan received a B.S. Mr. Harrison holds an MBA in Finance & Accounting from Loyola University and a B.A. 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 . Paul Prager is the Co-Founder and Chief Executive Officer of TeraWulf Inc, and the Chairman of the Board of Directors. Most recently, he ran the Multi-Asset Sales & Trading business in Canada and led efforts to expand this strategy globally. Mr. Bucella brings to the board of directors extensive capital markets experience, institutional knowledge, and deep experience in the digital asset space. Mr. Harrison brings decades of experience in financial and marketing communications, equity research, financial analysis, and strategic planning. Before joining Semtech, Mr. Harrison held analyst positions with increasing levels of responsibility at Wunderlich Securities, Signal Hill Capital Group and Pacific Growth Equities. The Company operates approximately 18,000 Bitcoin miners with a hash rate capacity over 2.0 EH/s at its Lake Mariner facility. 53 Palmeras Street, Suite 601 . Gender Male. Before that, he was a Managing Director at Blackstones global credit platform, GSO Capital Partners. TeraWulf Announces January 2023 Production and Operations Updates. 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. As part of our recent and likely final capital raise, my co-founder and COO, Nazar Khan, and I purchased an additional $2.5 million of equity at the market price. Lisa Pragerserves as General Counsel and Executive Vice President of the Agricultural Bank ofChinaNew YorkBranch. TeraWulf's Prager on cryptocurrency market. 1 public school ranking by Forbes and expanded academic opportunity and diversity. 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. Paul Prager is the Chairman, Co-Founder & CEO at TeraWulf. Prior to TeraWulf, Mr. Prager has been the Founder and CEO at Beowulf Energy LLC and predecessor companies since 1990. TeraWulf Inc. is a digital asset technology company, which is engaged in the business of sustainable bitcoin mining. Paul Prager is the founder of Beowulf Energy LLC, a private, independent infrastructure holding company that develops, builds, owns, and operates power generation and energy infrastructure. "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 . 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. 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. Vous pouvez modifier vos choix tout moment en cliquant sur le lien Tableau de bord sur la vie prive prsent sur nos sites et dans nos applications. Paul Prager, TeraWulf CEO and Founder, discusses crypto regulation and green mining. 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. 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. and M.S. Terawulf (NASDAQ: WULF) is owned by 9.57% institutional shareholders, 79.43% Terawulf insiders, and 11.00% retail investors. Si vous souhaitez personnaliser vos choix, cliquez sur Grer les paramtres de confidentialit. Be assured that I am here with you and will continue to personally invest in TeraWulf. Paul Prager Chief Executive Officer; Director: 1388889: Award at $ 0. . 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 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. Paul Prager, Chief Executive Officer and chairman of the board of TeraWulf, will participate in the Bitcoin 2022 Conference to speak on the Building New Grids panel on April 8, 2022 at 12:45 p.m . 1 Source: Cambridge Bitcoin Electricity Consumption Index (CBECI) (ccaf.io). TeraWulf cofounder and CEO Paul Prager joins us to talk about his experience building a vertically-integrated, zero carbon Bitcoin miner. Stefanie Fleischmann is Chief Legal Officer and Corporate Secretary of TeraWulf Inc., where she oversees all legal and compliance matters for the company. 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. Per saperne di pi su come utilizziamo i tuoi dati personali, consulta la nostra Informativa sulla privacy e la nostra Informativa sui cookie. TeraWulfs business is conducted by its employees and executive officers with oversight from a distinguished and diversified board of directors. 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. And if you dont want to invest in a bitcoin mining company, call us. Most recently, Mr. Deane was an executive with Heorot Power Holdings LLC, an owner and operator of power generation assets. "December represented another month of robust growth for TeraWulf. All Rights Reserved. You can unsubscribe to any of the investor alerts you are subscribed to by visiting the unsubscribe section below. 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 (Nasdaq: WULF) owns and operates vertically integrated, environmentally clean Bitcoin mining facilities in the United States. An Open Letter to Shareholders from TeraWulf Chairman and CEO Paul Prager. Paul Prager "TeraWulf " BTC TeraWulf 100% BTC Paul Prager is the Chairman of the Board of Directors. 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. 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. 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. The . Ms. Motz brings to the board of directors extensive leadership and public policy experience. Enter TeraWulf, which believes it has a better way forward. All statements, other than statements of historical fact, are statements that could be deemed forward-looking statements. After submitting your request, you will receive an activation email to the requested email address. 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.. Location New York, New York, United States. 1. A graduate of the United States Naval Academy, Mr. Prager is a member of the investment committee and Trustee of the USNA Foundation. 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. Mr. Fleury brings 22 years of finance experience, comprising of capital markets, principal investing, and advisory roles. She later served as a Deputy Attorney General for theDistrict of Columbiagovernment, representing the city's child welfare and mental health agencies. from WesternNew England UniversitySchool of Law. 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. If you want to invest in a bitcoin mining company, come to TeraWulf. Previous to this role, Mr. Bucella led the Institutional Global Equities business, also in Canada. Attended United States Naval Academy. Wenn Sie Ihre Auswahl anpassen mchten, klicken Sie auf Datenschutzeinstellungen verwalten. Naval Academyreached the No. 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. 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. Entry into a Material Definitive Agreement. 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. What is Paul B. All Rights Reserved. Ms. Langlais received her BA in Finance and graduated with honors from Boston College. 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. These warrants will convert back to common stock without any price differential. 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. 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. Thats right, we bought at market while this transformational equity raise came at a modest discount to the market. 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. 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. ESG is at the core of TeraWulfs corporate strategy and ties directly to its business success, risk mitigation, and reputational value. Paul Prager is the Co-Founder, Chairman and CEO of TeraWulf Inc., a leading clean energy digital asset company. New Executive Interview with TeraWulf CTO and COO Nazar Khan. 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. Prager has extensive investment and entrepreneurial experience in international shipping, commodity trading and power generation. Before that, he was a Managing Director at Blackstones global credit platform, GSO Capital Partners. from Heidelberg University and an LL.M. LinkedIn View on LinkedIn. Company profile for TeraWulf Inc. including key executives, insider trading, ownership, revenue and average growth rates. TeraWulf Inc. WULF ("TeraWulf" or the . By providing your email address below, you are providing consent to TeraWulf to send you the requested Investor Email Alert updates. 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. Ms. Langlais also worked at Harvard University where she provided advisory to the Universitys overall financial strategy and planning. Mining Disrupt Conference July 25-27, 2023 Miami . He earned a B.A. 3. 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. 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. Ms. Langlais brings more than 20 years of M&A, financing, strategy and power sector experience. in Mechanical Engineering with a certificate in Biomedical Engineering from the University of Colorado Boulder. Mr. Prager has extensive investment and entrepreneurial experience in international shipping, commodity trading and power generation. afficher des publicits et des contenus personnaliss en fonction de vos profils de centres dintrt; mesurer lefficacit des publicits et contenus personnaliss; et. in Industrial Psychology & History from Washington & Lee University. February 2023 Dear Shareholders, . Paul B. Prager is the largest individual Terawulf shareholder, owning 25.05M shares representing 19.52% of the company. 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. Ms. Prager received a B.A. 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. He received his BSBA in economics from theUniversity of Arizona. Prior to TeraWulf, Mr. Prager has been the Founder and CEO at Beowulf Energy LLC and predecessor companies since 1990. 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. An Open Letter to Shareholders from TeraWulf Chairman and CEO Paul Prager. Paul B. Prager's Terawulf shares are currently valued at $15.81M. With a core focus on ESG that ties directly to its business success, TeraWulf expects to offer attractive mining economics at an industrial scale. . To opt-in for investor email alerts, please enter your email address in the field below and select at least one alert option. 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. Beowulf is led by its founder, Chairman, and Chief Executive Officer, Paul B. Prager. TeraWulf Retweeted. 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. 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. . The Company maintains its estimated average power cost of approximately $0.035/kWh across its portfolio. in Industrial Psychology & History from Washington & Lee University. | Privacy Policy. from the University of Pennsylvania. Let me be clear we have a deal that should enable the Company to pay down principal when we have available free cash flow, instead of adhering to a mandatory payment schedule. And in that short period, our team has accomplished key milestones that we believe will be foundational in achieving our . Mr. Carter's extensive leadership background brings a strong commitment to corporate ethics, values and business practices to the board of directors. Mr. Khan received a B.S.