Terawulf Inc (OQ:WULF)

Business Focus: N/A

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Sector: Technology	Industry: N/A

See Regulatory Filings on SEC

Company Contact

Address:	9 Federal Street EASTON MD 21601
Tel:	N/A
Website:	https://terawulf.com
IR:	See website

Key People

Paul B. Prager Chairman of the Board, Chief Executive Officer, Co-Founder	Nazar M. Khan Co-Founder, Chief Operating Officer, Chief Technology Officer, Executive Director	Patrick Fleury Chief Financial Officer
Kenneth J. Deane Chief Accounting Officer, Treasurer	Kerri M. Langlais Executive Director, Chief Strategy Officer

Business Overview

TeraWulf Inc. owns and operates vertically integrated, environmentally clean bitcoin mining facilities in the United States. The Company has two Bitcoin mining facilities: the wholly owned Lake Mariner Data facility in New York, and Nautilus Cryptomine facility in Pennsylvania, a joint venture with Cumulus Coin, LLC. The Company generates domestically produced Bitcoin powered by 95% zero carbon energy resources, including nuclear, hydro and solar with a goal of utilizing 100% zero-carbon energy. The Company's principal operations consist of operating, developing and constructing bitcoin mining facilities in the United States. The Company operates a portfolio of bitcoin mining facilities, either wholly owned or through joint ventures, that each deploy a series of computers that solve complex cryptographic algorithms, which computing power is provided to a mining pool operator to mine bitcoin and validate transactions on the bitcoin network.

Financial Overview

For the fiscal year ended 31 December 2023, Terawulf Inc revenues increased from $15M to $69.2M. Net loss applicable to common stockholders excluding extraordinary items decreased 14% to $74.4M. Revenues reflect an increase in demand for the Company's products and services due to favorable market conditions. Lower net loss reflects Other Adjustments to Net Income decrease of 41% to $9.3M (losses).

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