Core Viewpoint - TeraWulf Inc. has successfully completed a private placement of $500 million in 2.75% Convertible Senior Notes due 2030, aimed at enhancing its financial position and supporting growth initiatives [1][4]. Group 1: Convertible Notes Offering - The offering of Convertible Notes was conducted under Rule 144A of the Securities Act, targeting qualified institutional buyers [1]. - The total principal amount includes an additional $75 million from an option granted to initial purchasers [1]. Group 2: Financial Strategy - TeraWulf entered into capped call transactions with a cap price of $12.80, which is a 100% premium over the last reported sale price [2]. - The company repurchased $115 million worth of its common stock as part of its strategy to mitigate shareholder dilution [2][3]. Group 3: Use of Proceeds - The net proceeds from the Convertible Notes sale were approximately $487.1 million after deducting discounts and expenses [4]. - The company plans to allocate $60 million for capped call transaction costs, $115 million for share repurchases, and the remainder for general corporate purposes, including working capital and data center infrastructure expansion [4].

Core Viewpoint - TeraWulf Inc. has announced a share repurchase program authorizing the repurchase of up to $200 million of its outstanding shares through December 31, 2025, reflecting confidence in its business strategy and financial health [1][2]. Financial Strategy - The company has fully retired its debt earlier this year and is focused on optimizing capital allocation to enhance shareholder value and drive profitable growth [2]. - The share repurchase will be funded using excess cash after disciplined capital expenditures aimed at supporting organic growth in high-performance computing (HPC) and artificial intelligence (AI) [1][2]. Share Repurchase Program Details - The timing, method, price, and volume of share repurchases will be at the company's discretion, with purchases potentially made through various avenues such as open market transactions or privately negotiated transactions [3]. - The company retains the right to modify, suspend, or discontinue the program at any time [3]. Company Overview - TeraWulf develops and operates environmentally sustainable data center infrastructure in the U.S., primarily for Bitcoin mining and high-performance computing, utilizing predominantly zero-carbon energy sources [4]. - The company operates the Lake Mariner facility, which is situated on a retired coal plant site in Western New York, and generates revenue mainly through Bitcoin mining [4].

TeraWulf Inc. (WULF) shares soared 18.5% in the last trading session to close at $6.21. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 16.4% gain over the past four weeks.Shares of TeraWulf rallied for the second consecutive trading session. The surge in the company’s shares seems to be driven by investor optimism about Bitcoin's trajectory. Several favorable factors including easing monetary policy across the globe, growing sup ...

EASTON, Md., Oct. 10, 2024 (GLOBE NEWSWIRE) -- TeraWulf Inc. (Nasdaq: WULF) ("TeraWulf" or the "Company"), a leading owner and operator of vertically integrated, next-generation digital infrastructure powered by predominantly zero-carbon energy, today announced a new, long-term ground lease agreement at Lake Mariner ("New Ground Lease") that supports the Company's expansion into high-performance computing (HPC) and AI data centers and positions TeraWulf to attract long-term, high-quality customers. The New ...

Core Insights - TeraWulf Inc. has achieved significant advancements in its high-performance computing (HPC) and artificial intelligence (AI) digital infrastructure, with a self-mining capacity of 10.0 EH/s, doubling year-over-year [1][2]. Production and Operations Highlights - In September 2024, TeraWulf mined 176 bitcoin, averaging approximately 5.9 bitcoin per day [2][5]. - The operational self-mining capacity remained at approximately 10.0 EH/s, reflecting a 100% increase year-over-year [2][6]. - The average power cost per bitcoin mined was $35,109, equating to about $0.042 per kWh [2][3]. Key Metrics - Bitcoin self-mined at Lake Mariner was 140 in September, down from 147 in August [3]. - Bitcoin self-mined at Nautilus was 36 in September, slightly down from 37 in August [3]. - The value per bitcoin self-mined increased to $60,168 in September from $60,025 in August [3]. - The average operating hash rate was 8.2 EH/s, consistent with the previous month [3]. Recent Strategic Developments - On October 3, 2024, TeraWulf closed the sale of its 25% equity interest in the Nautilus facility for approximately $92 million, with plans to reinvest this capital into the construction of the 20 MW CB-1 facility at Lake Mariner [4][5]. - The construction of the CB-1 facility is on track for completion in Q1 2025, and the company has secured long-lead items for a subsequent 50 MW AI/HPC facility, CB-2, expected to be operational in early Q2 2025 [5][7]. Company Overview - TeraWulf develops and operates environmentally sustainable data center infrastructure in the U.S., primarily for Bitcoin mining and HPC, leveraging predominantly zero-carbon energy sources [8].

HOUSTON, Oct. 03, 2024 (GLOBE NEWSWIRE) -- Talen Energy Corporation ("Talen" or the "Company") (NASDAQ: TLN), an independent power producer dedicated to powering the future, announced today that it has completed a transaction with TeraWulf Inc. ("TeraWulf") to purchase TeraWulf's interest in Nautilus Cryptomine ("Nautilus"), a 200-megawatt bitcoin mining facility in Berwick, Pa. As a result of the transaction, Talen now owns 100% of Nautilus. "We are pleased to complete this strategic transaction," said Col ...

Total Consideration of Approximately $92 Million, Resulting In a 3.4x Return on Investment1 2 MW AI/HPC Proof-of-Concept Project Nearing Completion; Targeting operations for 20 MW CB-1 in Q1 2025 and 50 MW CB-2 in Q2 2025 Maintains Q1 2025 Target ~13 EH/s Operating Capacity While Upgrading Fleet Efficiency to 18.2 J/TH and Optimizing Operating Expenses Schedules Conference Call for Third Quarter 2024 Financial Results EASTON, Md., Oct. 03, 2024 (GLOBE NEWSWIRE) -- TeraWulf Inc. (Nasdaq: WULF) ("TeraWulf" or ...

Group 1: AI and Internet Comparison - The article highlights that artificial intelligence (AI) is poised to have a more significant impact than the internet, personal computers, or phones, with Bill Gates stating it is the most exciting innovation of his lifetime [2] Group 2: Bitcoin as an Asset Class - Bitcoin has emerged as the top-performing asset class of the decade, with gains exceeding 6,000% since its inception [3] - Blackrock launched the iShares Bitcoin Trust ETF in January 2024, indicating continued institutional interest in Bitcoin [4] Group 3: Companies Benefiting from Bitcoin Mining and AI - TeraWulf is focused on sustainable Bitcoin mining using clean energy sources and is positioned to benefit from the growing demand for clean energy in data centers [5][6] - Core Scientific is a leading Bitcoin mining company, having mined more Bitcoin than any other public company over the past three years [8] - Applied Digital has seen a significant increase in share value following a $160 million deal with Nvidia to enhance its digital infrastructure for high-performance computing [10] Group 4: Future Trends - The article concludes that data centers, AI, and Bitcoin mining are expected to be multi-year megatrends, with companies like Core Scientific, TeraWulf, and Applied Digital set to benefit in the long term [12]

It's been a reasonably good year for Bitcoin ( BTC-USD ) with the digital asset trading above $60,000 with returns of 36% for year-to-date. The same is not the case with most Bitcoin miners. With the halving event translating difficulty in Bitcoin mining, cost Analyst's Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I a ...

LOS ANGELES, Sept. 18, 2024 /PRNewswire/ -- The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors in TeraWulf Inc. ("TeraWulf" or "the Company") (NASDAQ: WULF) for potential breaches of fiduciary duty on the part of its directors and management. The investigation focuses on determining if the TeraWulf board breached its fiduciary duties to shareholders. If you are a shareholder, click here to participate. We also encourage you to ...