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TeraWulf | 8-K: Current report

SEC announcement ·  Feb 2 21:15
Summary by Futu AI
On February 2, 2024, TeraWulf Inc., a Delaware-incorporated company listed on the Nasdaq with the trading symbol WULF, issued a press release providing an update on its production and operations for January 2024. The company, which operates environmentally clean bitcoin mining facilities in the United States, reported self-mining 313 bitcoins in January at an average production rate of over 10 bitcoins per day. The power cost averaged $16,737 per bitcoin, or approximately $0.05/kWh. The update highlighted the full deployment of Building 3 at the Lake Mariner facility, which increased TeraWulf's operational infrastructure capacity to approximately 160 MW and total self-mining hashrate to 7.1 EH/s by the end of January. The company also expects to reach 7.9 EH/s of owned hashrate in early February with...Show More
On February 2, 2024, TeraWulf Inc., a Delaware-incorporated company listed on the Nasdaq with the trading symbol WULF, issued a press release providing an update on its production and operations for January 2024. The company, which operates environmentally clean bitcoin mining facilities in the United States, reported self-mining 313 bitcoins in January at an average production rate of over 10 bitcoins per day. The power cost averaged $16,737 per bitcoin, or approximately $0.05/kWh. The update highlighted the full deployment of Building 3 at the Lake Mariner facility, which increased TeraWulf's operational infrastructure capacity to approximately 160 MW and total self-mining hashrate to 7.1 EH/s by the end of January. The company also expects to reach 7.9 EH/s of owned hashrate in early February with the deployment of additional S19j XPs. Furthermore, construction of Building 4 at Lake Mariner is progressing with a mid-2024 completion target, which will further increase TeraWulf's operational capacity to approximately 10 EH/s. The company is also exploring a large-scale High-Performance Computing (HPC) project at the Lake Mariner site. TeraWulf's management emphasized their strategic deployment of performance tuning to maximize margins during periods of elevated power prices and their ongoing efforts to improve performance through firmware and third-party solutions.

This announcement is a separate document:

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