TeraWulf Inc. develops, owns, and operates industrial-scale digital infrastructure in the United States for high-performance computing hosting and bitcoin mining. Company news commonly covers HPC lease revenue, digital asset mining activity, power-backed data center construction, and the transition of capacity at WULF Compute and the Lake Mariner site toward contracted compute customers.
Recurring developments also include capital actions used to fund data center construction and site expansion, such as common stock offerings and credit facilities, along with updates on acquired infrastructure sites such as Hawesville, Kentucky. Financial releases address operating results, liquidity, construction progress, and the balance between HPC hosting and bitcoin mining within TeraWulf's business model.
TeraWulf (WULF), a leading owner and operator of vertically integrated, next-generation digital infrastructure powered by predominantly zero-carbon energy, has announced its participation in multiple upcoming investor and industry conferences throughout Q1 2025.
The conference schedule includes:
- Needham Growth Conference (Virtual) - January 16
- CfC St. Moritz in Switzerland - January 15-17
- PTC 25 in Honolulu - January 19-22
- Cantor Tech Ski Summit in Telluride - January 22-25
- Susquehanna Technology Conference in New York - February 27-28
- Bitcoin Ski Summit in Jackson Hole - March 5-9
- Cantor NY Tech Conference in New York - March 11-12
- Roth 2025 in Dana Point - March 16-18
TeraWulf (WULF) has announced significant developments in December 2024, securing high-performance computing data center leases with Core42 for over 70 MW, representing potential revenue exceeding $1 billion over a 10-year term. The company mined 158 bitcoin in December at an average power cost of $62,805 per bitcoin ($0.078/kWh).
The company achieved 9.7 EH/s of installed self-mining capacity, marking a 94% year-over-year increase. Construction of miner building 5 (MB-5, 50 MW) is progressing on schedule for completion in mid-Q1 2025. TeraWulf's operational bitcoin mining capacity stands at 195 MW, with December's average hash rate at 8.4 EH/s. Core42 maintains an option for an additional 135 MW capacity for early 2026.
TeraWulf (NASDAQ: WULF) has signed long-term data center lease agreements with Core42, a G42 subsidiary, to deliver over 70 megawatts of turn-key data center infrastructure at the Lake Mariner facility in Upstate New York. The infrastructure will be deployed between Q1 and Q3 2025, featuring Dell Integrated Rack Scalable Solutions with direct liquid cooled GPU servers.
The agreement includes two five-year renewal options and provisions for expanding hosting capacity by an additional 135 MW gross (108 MW critical IT load). This strategic move marks TeraWulf's expansion into AI-driven computing while maintaining its Bitcoin mining operations, leveraging predominantly zero-carbon energy sources.
TeraWulf (NASDAQ: WULF) released its November 2024 operations update, highlighting the completion of critical electrical upgrades at Lake Mariner facility. The company self-mined 115 bitcoin with an average daily production rate of 3.8 bitcoin, maintaining 8.4 EH/s of operational self-mining capacity, representing a 68% year-over-year increase.
Key achievements include installing approximately 7,400 S21 Pro miners, achieving an average power cost of $41,190 per bitcoin mined ($0.051/kWh), and completing planned outages for high-voltage redundant power feeds. The company remains on schedule to deliver 72.5 MW of HPC hosting capacity by Q2 2025, with construction of MB-5 proceeding as planned.
TeraWulf has promoted Sean Farrell to Chief Operating Officer, effective immediately. Farrell, who previously served as Senior Vice President of Operations, will continue reporting to CTO Nazar Khan. With over 13 years of experience in the energy sector, Farrell's promotion aims to enhance the company's high-performance computing and AI data center capabilities. Prior to TeraWulf, he was North American Head of Onshore Sales and Marketing at Siemens Gamesa Renewable Energy Inc. The appointment reflects TeraWulf's focus on operational excellence and organic growth in digital infrastructure operations.
TeraWulf announced its Q3 2024 financial results, reporting revenue of $27.1 million, a 42.8% increase year-over-year. The company achieved a non-GAAP adjusted EBITDA of $6.0 million, down 33.6% from Q3 2023. TeraWulf's operational self-mining capacity grew 100% to 10.0 EH/s. Key strategic activities included selling its Nautilus JV interest, securing a new ground lease at Lake Mariner, a $500 million convertible note offering, and a $200 million share buyback.
TeraWulf self-mined 555 bitcoin, a 43.4% decrease from Q3 2023, with the value per bitcoin self-mined increasing 117.3% to $61,075. Power cost per bitcoin self-mined rose to $30,448 due to increased network difficulty and bitcoin halving. The company completed a 2.5 MW HPC hosting project and is expanding its HPC infrastructure.
CEO Paul Prager emphasized the company's strong positioning for growth, while CFO Patrick Fleury highlighted the $500 million financing to support growth plans through mid-2025.
TeraWulf (WULF) released its October 2024 production update, reporting 150 self-mined bitcoin with an average daily production of 4.8 BTC. The company maintained 8.1 EH/s of operational self-mining capacity, a 62% year-over-year increase. Average power cost was $36,789 per bitcoin mined ($0.048/kWh). The company is progressing with its miner refresh program at Lake Mariner, replacing older models with 12,200 S19 XP miners. TeraWulf is accelerating its HPC hosting initiatives, targeting 72.5 MW of capacity by Q2 2025, including the construction of CB-1 (20 MW) and CB-2 (50 MW) facilities.
TeraWulf (Nasdaq: WULF), a leading owner and operator of vertically integrated digital infrastructure powered by zero-carbon energy, has scheduled its third quarter 2024 earnings conference call for Tuesday, November 12, 2024, at 5:00 p.m. ET. The company will release its financial results press release prior to the call on the same day. The earnings call will be accessible via webcast and dial-in options, with replay available until November 26, 2024.
TeraWulf has completed a private placement of $500 million in 2.75% Convertible Senior Notes due 2030 to qualified institutional buyers. The company implemented capped call transactions with a cap price of $12.80 and repurchased $115 million of its common stock. The net proceeds of approximately $487.1 million will be allocated as follows: $60 million for capped call transactions, $115 million for stock repurchases, and the remainder for general corporate purposes, including working capital, strategic acquisitions, and data center infrastructure expansion.
TeraWulf announced the pricing of $425 million in 2.75% Convertible Senior Notes due 2030. The notes will be sold to qualified institutional buyers with an initial conversion price of $8.48 per share, representing a 32.50% premium to the closing price. The company will use approximately $51 million for capped call transactions, $115 million to repurchase shares, and the remainder for general corporate purposes. The notes include a conversion rate of 117.9245 shares per $1,000 principal amount and feature capped call transactions with an initial cap price of $12.80 per share. TeraWulf will repurchase approximately 17.97 million shares at $6.40 per share.