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. TeraWulf Announces January 2023 Production and Operations Updates. 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. TeraWulf Inc. WULF ("TeraWulf" or the . TeraWulf is led by an accomplished, diverse management team with 30+ years of experience in developing and managing energy infrastructure and disruptive technology. . It has been four weeks since I shared my reflections on TeraWulfs achievements in 2022 and stated goals for 2023. in history and earned a J.D. Despite weather-related price volatility in December, the Company projects an average cost of power of approximately $0.035/kWh across its two sites. LinkedIn View on LinkedIn. He began his career at AIG and held senior roles at both Johnson & Higgins and Aon. 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. After submitting your request, you will receive an activation email to the requested email address. Mr. Fleury brings 22 years of finance experience, comprising of capital markets, principal investing, and advisory roles. 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. The Company is scheduled to receive over 18,000 additional miners from Bitmain over the coming months. April 22, 2022, 4:20 PM. 2022 Terawulf. 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. Prior to TeraWulf, Mr. Prager has been the Founder and CEO at Beowulf Energy LLC and predecessor companies since 1990. Location New York, New York, United States. Under his leadership, theU.S. Today, I write in gratitude: proud of our accomplishments, inspired by our extraordinary employees, and confident in our strategy. Si vous ne souhaitez pas que nos partenaires et nousmmes utilisions des cookies et vos donnes personnelles pour ces motifs supplmentaires, cliquez sur Refuser tout. A graduate of the United States Naval Academy, Mr. Prager is a member of the investment committee and Trustee of the USNA Foundation. and a B.A. Ms. Motz also taught as an adjunct professor at theUniversity of Maryland School of Law. Power prices increased dramatically during the severe weather event that crossed most of the United States in December, increasing Lake Mariners operating cost during the days of local impact. 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. 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. 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> He graduated from the Navy Fighter Weapons School (Top Gun) inMiramar, California, and was commander for the Carrier Strike Group Twelve, in which he commanded 20 ships, two nuclear-powered aircraft carriers and two carrier air wings that were deployed toAfghanistanin the Arabian Gulf. 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. Fifth Amendment to Loan Agreement. mesurer votre utilisation de nos sites et applications. Paul B. Prager Chairman and Chief Executive Officer TeraWulf Inc. Paul B Prager owns about 31,534,679 units of Terawulf Inc common stock. 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. Carter is a Distinguished Flying Cross and Bronze Star recipient. from Yale Law School. 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. 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. Mr. Farrell has over 12 years of energy experience in renewables, grid optimization, digitalization and storage cross-business solutions. from WesternNew England UniversitySchool of Law. This is HUGE. You must click the activation link in order to complete your subscription. And in that short period, our team has accomplished key milestones that we believe will be foundational in achieving our . TeraWulf is led by an accomplished, diverse management team with 30+ years of experience in developing and managing energy infrastructure and disruptive technology. 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. Paul Prager, CEO and Founder of bitcoin mining company TeraWulf, on how they are generating environmentally sustainable bitcoin and crypto mining practices. from Duke University School of Law. "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 . 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. 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. 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 . Today, I write in gratitude:. She began her career at Freshfields and Willkie Farr & Gallagher LLP in New York and Frankfurt, Germany. What differentiates TeraWulf is that we own and operate our facilities, control our power supply and utilize 91%+ zero-carbon energy sources.. 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. Mr. Bucella brings to the board of directors extensive capital markets experience, institutional knowledge, and deep experience in the digital asset space. And if you dont want to invest in a bitcoin mining company, call us. Mr. Prager has extensive investment and entrepreneurial experience in international shipping, commodity trading and power generation. Mr. Farrell holds a B.S. I believe that is more than any leadership team in the sector and underscores our confidence in WULFs mission and what we are building. in accounting from the University of Florida. 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. Most recently, Mr. Carter served as Superintendent of theU.S. 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. 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. The Company operates approximately 18,000 Bitcoin miners with a hash rate capacity over 2.0 EH/s at its Lake Mariner facility. With over 40 years of experience, Mr. Pincus has extensive experience in the energy and high-tech sectors. 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. He is also part of the global Corporate Risk and Broking leadership team. Feb 2 2023. "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.". Per saperne di pi su come utilizziamo i tuoi dati personali, consulta la nostra Informativa sulla privacy e la nostra Informativa sui cookie. 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. from the University of Pennsylvania. 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 . Mr. Harrison brings decades of experience in financial and marketing communications, equity research, financial analysis, and strategic planning. TeraWulf Inc. is a digital asset technology company, which is engaged in the business of sustainable bitcoin mining. With a core focus on ESG that ties directly to its business success, TeraWulf expects to offer attractive mining economics at an industrial scale. in Industrial Psychology & History from Washington & Lee University. in accounting from the University of Florida. He earned a B.A. 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). TeraWulf Co-Founder, CEO & Chair of the Board Paul Prager joins Yahoo Finance Live to talk about zero carbon mining for bitcoin and other cryptocurrencies, outlook on . Ms. Motz brings to the board of directors extensive leadership and public policy experience. from the University of Pennsylvania. Ms. Langlais received her BA in Finance and graduated with honors from Boston College. If you want to invest in a bitcoin mining company, come to TeraWulf. Mr. Fleury received a BA, magna cum laude, in Economics and Government & Legal Studies from Bowdoin College. 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. Paul Prager is the Co-Founder and Chief Executive Officer of TeraWulf Inc, and the Chairman of the Board of Directors. 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. "Everyone I talk to now is talking about carbon neutrality," said Paul Prager, the CEO of TeraWulf. This past year was a transformational year for TeraWulf and the crypto industry at large. TeraWulf Announces Closing of $28 Million Underwritten Equity Offering and Over-Allotment Option. . What is Paul B. and M.S. 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. Stefanie Fleischmann is General Counsel & Secretary of TeraWulf Inc., where she oversees all legal and compliance matters for the company. This has been our business for over 30 years. Ms. Prager received a B.A. dvelopper et amliorer nos produits et services. Mr. Carter's extensive leadership background brings a strong commitment to corporate ethics, values and business practices to the board of directors. Last month, I highlighted the industry-leading investment level our executive team has made in the Company and the commitment it demonstrates. 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. Dear Shareholders, It has been four weeks since I shared my reflections on TeraWulf's achievements in 2022 and stated goals for 2023. 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. He began his career at AIG and held senior roles at Johnson & Higgins and Aon. For the last 8 years, he served as Vice President of Investor Relations at Semtech Corporation, managing and growing the investor relations program. 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. 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. The . As further evidence of my conviction, I have not sold a share, directly or indirectly. Mr. Farrell has over 12 years of energy experience in renewables, grid optimization, digitalization and storage cross-business solutions. Ms. Fleischmann holds a J.D. View source version on businesswire.com: https://www.businesswire.com/news/home/20230106005442/en/, Sandy [email protected] (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. "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. The total cost of. Paul B. Prager is the largest individual Terawulf shareholder, owning 25.05M shares representing 19.52% of the company. Co-Founder, and Chief Executive Officer of TeraWulf Inc. 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. He holds a B.S. TeraWulf Announces Closing of $28 Million Underwritten Equity Offering and Over-Allotment Option. 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.. Se vuoi personalizzare le tue scelte, clicca su "Gestisci le impostazioni per la privacy". To opt-in for investor email alerts, please enter your email address in the field below and select at least one alert option. 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. and a B.A. 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. This past year, our management team invested over $15 million of our personal capital in the Company. from Heidelberg University and an LL.M. She has also served as General Counsel at Beowulf Energy LLC for nearly 15 years. 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. Stefanie Fleischmann is Chief Legal Officer and Corporate Secretary of TeraWulf Inc., where she oversees all legal and compliance matters for the company. You must click the activation link in order to complete your subscription. Ms. Prager brings broad legal, compliance, and regulatory expertise to the TeraWulf board of directors. Paul Prager is the Co-Founder and Chief Executive Officer of TeraWulf Inc, and the Chairman of the Board of Directors. fromYale Universityand J.D. Naval Academyreached the No. 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). Our priority continues to be reducing costs and deploying those resources towards the Companys path to positive cash flow from operations in 2023. Previous to this role, Mr. Bucella led the Institutional Global Equities business, also in Canada. Most recently, Mr. Deane was an executive with Heorot Power Holdings LLC, an owner and operator of power generation assets. February 2023 Open Letter from TeraWulf Chairman and CEO Paul Prager . 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. 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. 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. Prior to Beowulf, Mr. Khan worked at Evercore Partners Inc. in both investment banking and private equity. A graduate of the United States Naval Academy, Mr. Prager is a member of the investment committee and Trustee of the USNA Foundation. Ms. Fleischmann holds a J.D. Because our confidence in TeraWulf is stronger than ever as we build upon, and begin to realize, our distinguishing advantages. "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 . In energy markets, location is everything and our sites are in robust, developed markets that provide premier value for the grid services we provide. in Mechanical Engineering with a certificate in Biomedical Engineering from the University of Colorado Boulder. Authorized to Receive Notices and Communications) January 30, 2023 Previously, Mr. New was a senior member of the Distressed Finance Group at Credit Suisse and Donaldson, Lufkin and Jenrette. Ms. Motz graduated summa cum laude fromDartmouth Collegewith a B.A. Weitere Informationen ber die Verwendung Ihrer personenbezogenen Daten finden Sie in unserer Datenschutzerklrung und unserer Cookie-Richtlinie. Press Releases. Paul Prager, TeraWulf CEO and Founder, discusses crypto regulation and green mining. Before that, he was a Managing Director at Blackstones global credit platform, GSO Capital Partners. By providing your email address below, you are providing consent to TeraWulf to send you the requested Investor Email Alert updates. Co-Founder, Chairman & Chief Executive Officer, Co-Founder, Chief Operating Officer & Chief Technology Officer. Sincerely, Paul Prager Chairman and Chief Executive Officer About TeraWulf TeraWulf (Nasdaq: WULF) owns. 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.