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February 2023 Open Letter from TeraWulf Chairman and CEO Paul Prager . Mr. Harrison brings decades of experience in financial and marketing communications, equity research, financial analysis, and strategic planning. from Yale Law School. Fleet of deployed miners reached approximately 18,000 with a hash rate capacity over 2.0 EH/s. Mr. Prager has extensive investment and entrepreneurial experience in international shipping, commodity trading and power generation. 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. 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. We are prepared to demonstrate the importance of what we do and how we do it. Mr. 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. 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. 22. Prior to NovaWulf, Mr. New was the Head of Onex Credit, a leading asset manager with more than $23 billion of assets under management. 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. 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. 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. Paul B. Prager's Terawulf shares are currently valued at $15.81M. "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. To opt-in for investor email alerts, please enter your email address in the field below and select at least one alert option. Naval Academyreached the No. Our industrial-scale mining facilities in New York and Pennsylvania will mine Bitcoin using cost-effective, zero-carbon energy. 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. Under his leadership, theU.S. Chairman of the Board, Chief Executive Officer, Co-Founder . After submitting your request, you will receive an activation email to the requested email address. Read our most recent investor deck here. 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. Ms. Fleischmann holds a J.D. 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. 2022 Terawulf. Earlier in her career as an Assistant U.S. Attorney, Ms. Motz prosecuted homicide and domestic violence cases and argued appellate cases in federal and local courts. Mr. Prager has also founded and has been the President of Beowulf Energy LLC and its. 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 . Prior to joining the bank, Ms. Prager was a partner in law firms where she focused on government investigations. The Company is nearing final stages of construction at its two mining sites and expects to have a total operational capacity of 49,000 miners (5.5 EH/s) in early Q2 2023, representing about 160 MW of power demand. Mr. Prager has extensive investment and entrepreneurial experience in international shipping, commodity trading and power generation. A graduate of the United States Naval Academy, Mr. Prager is a member of the investment committee and Trustee of the USNA Foundation. Mr. Deane brings more than 20 years of financial and operational experience in the power, high tech and public accounting sectors. 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. . Last month, I highlighted the industry-leading investment level our executive team has made in the Company and the commitment it demonstrates. You must click the activation link in order to complete your subscription. 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. 1. Your trust and confidence in TeraWulf have helped us build a remarkable company. He began his career at AIG and held senior roles at both Johnson & Higgins and Aon. Terawulf (NASDAQ: WULF) is owned by 9.57% institutional shareholders, 79.43% Terawulf insiders, and 11.00% retail investors. Before that, he was a Managing Director at Blackstones global credit platform, GSO Capital Partners. 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. Mr. Harrison brings decades of experience in financial and marketing communications, equity research, financial analysis, and strategic planning. from Heidelberg University and an LL.M. 2022 Terawulf. Attended United States Naval Academy. 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. Prior to TeraWulf, Mr. Prager has been the Founder and CEO at Beowulf Energy LLC and predecessor companies since 1990. Gender Male. 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. Co-Founder, and Chief Executive Officer of TeraWulf Inc. Co-Founder, Chairman & Chief Executive Officer. Paul Prager, TeraWulf CEO and Founder, discusses crypto regulation and green mining. The total cost of. 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 of the Board of Directors. Ms. Prager brings broad legal, compliance, and regulatory expertise to the TeraWulf board of directors. Insider Trading. 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). 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. TeraWulf (Nasdaq: WULF) owns and operates vertically integrated, environmentally clean Bitcoin mining facilities in the United States. 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.. Self-mined 157 Bitcoin in January 2023, a >25% increase over December 2022. Power volatility in 2022 underscored the importance of power contracts. For the last 8 years, he served as Vice President of Investor Relations at Semtech Corporation, managing and growing the investor relations program. Beowulf is led by its founder, Chairman, and Chief Executive Officer, Paul B. Prager. Paul B Prager owns about 31,534,679 units of Terawulf Inc common stock. from WesternNew England UniversitySchool of Law. New Executive Interview with TeraWulf CTO and COO Nazar Khan. 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. The company was founded on February 8, 2021 and is headquartered in Easton, MD. Mr. Fleury began his career in the Global Energy & Power Investment Banking Group at Banc of America Securities, LLC. He earned a B.A. Ms. Prager received a B.A. and a B.A. CEO of Terawulf Inc ( 30-Year Financial, Insider Trades) Paul B. Prager ( insider trades) bought 66,000 shares of WULF on 12/23/2021 at an average price of $12.85 a share. Entry into a Material Definitive Agreement. April 22, 2022, 4:20 PM. In energy markets, location is everything and our sites are in robust, developed markets that provide premier value for the grid services we provide. Pour en savoir plus sur la faon dont nous utilisons vos donnes personnelles, veuillez consulter notre politique relative la vie prive et notre politique en matire de cookies. "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 . 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, 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 . "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.". Co-Founder, and Chief Executive Officer of TeraWulf Inc. in Mechanical Engineering with a certificate in Biomedical Engineering from the University of Colorado Boulder. About 11,500 are proprietary miners with a hash rate capacity of approximately 1.4 EH/s. in accounting from the University of Florida. Read More WULF Stock News Headlines 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. 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. 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. 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. 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. At TeraWulf, we promise to treat your data with respect and will not share your information with any third party. 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. 53 Palmeras Street, Suite 601 . He holds a B.S. 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. Why? Thank you to all our investors, partners, and fellow WULFpack members for working with us to build the leading mining company. Authorized to Receive Notices and Communications) January 30, 2023 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.. Your trust and confidence in TeraWulf have helped us build a remarkable company. 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. You can unsubscribe to any of the investor alerts you are subscribed to by visiting the unsubscribe section below. 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. 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. Mining Disrupt Conference July 25-27, 2023 Miami . Stefanie Fleischmann is Chief Legal Officer and Corporate Secretary of TeraWulf Inc., where she oversees all legal and compliance matters for the company. Compare what we share: the breadth and depth of real data, with unbridled transparency, in a timely way. 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. Ms. Langlais received her BA in Finance and graduated with honors from Boston College. 1 public school ranking by Forbes and expanded academic opportunity and diversity. New Executive Interview with TeraWulf CTO and COO Nazar Khan. Fifth Amendment to Loan Agreement. in Industrial Psychology & History from Washington & Lee University. Before joining Semtech, Mr. Harrison held analyst positions with increasing levels of responsibility at Wunderlich Securities, Signal Hill Capital Group and Pacific Growth Equities. Mr. Farrell has over 12 years of energy experience in renewables, grid optimization, digitalization and storage cross-business solutions. "TeraWulf's ability to raise private capital underscores the attractiveness of bringing a new paradigm for cryptocurrency mining to the public markets," said Paul Prager, Chairman and Chief . LinkedIn View on LinkedIn. 2022 Terawulf. Mr. Harrison holds an MBA in Finance & Accounting from Loyola University and a B.A. Paul Prager. 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. If you experience any issues with this process, please contact us for further assistance. 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. Paul Prager, CEO and Founder of bitcoin mining company TeraWulf, on how they are generating environmentally sustainable bitcoin and crypto mining practices. 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. 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 . I said that I was right alongside you as a shareholder and that I would continue to invest personally in TeraWulf. All Rights Reserved. Shares of TeraWulf (WULF), an environmentally minded bitcoin miner, plunged almost 30% in their first day of trading on Tuesday. A graduate of the United States Naval Academy, Mr. Prager is a member of the investment committee and Trustee of the USNA Foundation. Power volatility in 2022 underscored the importance of power contracts. 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. TeraWulf, Inc. owns and operates fully integrated environmentally clean bitcoin mining facilities in the United States. "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. Paul Prager, chairman and CEO of TeraWulf, will hold the same positions in the new company. Mr. Fleury received a BA, magna cum laude, in Economics and Government & Legal Studies from Bowdoin College. 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. We believe these strategic steps will position TeraWulf forlong-term, sustainable growth. Feb 2 2023. Be assured that I am here with you and will continue to personally invest in TeraWulf. He is also part of the global Corporate Risk and Broking leadership team. Mr. New has over 26 years of investment experience and, previous to Onex, was a Senior Managing Director of Blackstone and Co-Head of Distressed and Special Situation Investing for GSO Capital Partners (GSO). You can sign up for additional alert options at any time. 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"). Jason New is the Co-Founder and Managing Partner of NovaWulf Digital Management, an institutionally focused digital asset infrastructure investment firm. Sincerely, Paul Prager Chairman and Chief Executive Officer About TeraWulf TeraWulf (Nasdaq: WULF) owns. 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. This past year, our management team invested over $15 million of our personal capital in the Company. At TeraWulf, we promise to treat your data with respect and will not share your information with any third party. To opt-in for investor email alerts, please enter your email address in the field below and select at least one alert option. TeraWulf Announces Proposed Public Offering of Common Stock . Mr. Khan received a B.S. All statements, other than statements of historical fact, are statements that could be deemed forward-looking statements. He earned a BS in Finance, Economics & Accounting from Fordham University. TeraWulf is led by an accomplished, diverse management team with 30+ years of experience in developing and managing energy infrastructure and disruptive technology. After submitting your request, you will receive an activation email to the requested email address. 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. What is Paul B. "Everyone I talk to now is talking about carbon neutrality," said Paul Prager . In energy markets, location is everything and our sites are in robust, developed markets that provide premier value for the grid services we provide. from the University of Pennsylvania. . Paul Prager is the Co-Founder and Chief Executive Officer of TeraWulf Inc, and the Chairman of the Board of Directors. Prior to TeraWulf, Mr. Prager has been the Founder and CEO at Beowulf Energy LLC and predecessor companies since 1990. Despite weather-related price volatility in December, the Company projects an average cost of power of approximately $0.035/kWh across its two sites. ESG is at the core of TeraWulfs corporate strategy and ties directly to its business success, risk mitigation, and reputational value. She began her career at Freshfields and Willkie Farr & Gallagher LLP in New York and Frankfurt, Germany. 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. Her distinguished career in both nonprofit and government will help TeraWulf execute on its strategy of sustainable growth and community impact. Mr. Farrell holds a B.S. He was an original Partner of GSO and a member of its Management Committee and Investment Committee. Also Known As Paul B. Prager. Mr. Khan received a B.S. from Heidelberg University and an LL.M. dvelopper et amliorer nos produits et services. All Rights Reserved. Mr. Farrell has over 12 years of energy experience in renewables, grid optimization, digitalization and storage cross-business solutions. Paul Prager is the Chairman of the Board of Directors. Successfully navigated extreme operating conditions during Winter Storm Elliot (the "Storm"), quickly returning to full output at the Storms close. . Most recently, he ran the Multi-Asset Sales & Trading business in Canada and led efforts to expand this strategy globally. Importantly, I want to thank our loyal investors and fellow WULFpack members for sticking with us through an unimaginably challenging year. 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. 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. 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 Twitter View on Twitter. If you experience any issues with this process, please contact us for further assistance. 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. Co-Founder, Chief Operating Officer & Chief Technology Officer. 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. Paul B. Prager is the largest individual Terawulf shareholder, owning 25.05M shares representing 19.52% of the company. 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. 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. Energy Intensive Bitcoin Mining: Can the Use of Renewables Answer Critics of Cryptocurrency? Mr. Bucella brings to the board of directors extensive capital markets experience, institutional knowledge, and deep experience in the digital asset space. If you want to invest in a bitcoin mining company, come to TeraWulf. fromYale Universityand J.D. 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 . CEO Paul Prager discusses moving from energy industry, next gen bitcoin mining, joining forces with Gwyneth Paltrow. TeraWulf cofounder and CEO Paul Prager joins us to talk about his experience building a vertically-integrated, zero carbon Bitcoin miner. "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 .