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TeraWulf | 8-K: Current report

SEC announcement ·  Apr 2 20:09
Summary by Futu AI
On April 2, 2024, TeraWulf Inc., a Delaware-incorporated company listed on the Nasdaq Capital Market under the trading symbol WULF, filed a Form 8-K with the SEC to announce its production and operations update for March 2024. The company, which operates environmentally clean bitcoin mining facilities in the United States, reported self-mining 379 bitcoins in March at an average production rate of 12.2 bitcoins per day. The power cost per bitcoin was approximately $13,798, excluding expected proceeds from demand response or ancillary services. TeraWulf's installed hash rate increased to 8 EH/s by the end of March, primarily due to the replacement of older miners with new S19k Pro miners. The company also expects to receive and energize an additional 3,000 S19k Pro miners in early April...Show More
On April 2, 2024, TeraWulf Inc., a Delaware-incorporated company listed on the Nasdaq Capital Market under the trading symbol WULF, filed a Form 8-K with the SEC to announce its production and operations update for March 2024. The company, which operates environmentally clean bitcoin mining facilities in the United States, reported self-mining 379 bitcoins in March at an average production rate of 12.2 bitcoins per day. The power cost per bitcoin was approximately $13,798, excluding expected proceeds from demand response or ancillary services. TeraWulf's installed hash rate increased to 8 EH/s by the end of March, primarily due to the replacement of older miners with new S19k Pro miners. The company also expects to receive and energize an additional 3,000 S19k Pro miners in early April at its Lake Mariner facility. TeraWulf is nearing the completion of Building 4 at Lake Mariner, which is expected to increase operational capacity to approximately 10 EH/s by mid-2024. Additionally, TeraWulf is exploring a high-performance computing project at Lake Mariner, committing an initial 2 MW block of power for the deployment of GPUs. The company emphasizes its commitment to zero-carbon energy and operational efficiency, including participation in demand response programs.

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