On January 31, 2024, TeraWulf Inc., a company specializing in cryptocurrency mining, received comments from the United States Securities and Exchange Commission (SEC) regarding its Amendment No. 2 to the Registration Statement on Form S-3, which was initially filed on January 16, 2024. The SEC's correspondence, addressed to TeraWulf's CEO Paul B. Prager, requested further revisions to the company's breakeven analysis, specifically to illustrate the impact of hardware purchasing costs on its mining operations. The SEC highlighted the substantial expense of purchasing mining equipment, as indicated by the $8.2 million depreciation expense related to property, plant, and equipment for the quarter ended September 30, 2023, and the fact that TeraWulf's miners have a useful life of approximately four years. The SEC has asked TeraWulf to amend its registration statement and provide the requested information, or to explain why the company believes the comment does not apply or an amendment is not appropriate. The SEC noted that after reviewing TeraWulf's response, there may be additional comments.

On January 31, 2024, TeraWulf Inc., a company specializing in cryptocurrency mining, received comments from the United States Securities and Exchange Commission (SEC) regarding its Amendment No. 2 to the Registration Statement on Form S-3, which was initially filed on January 16, 2024. The SEC's correspondence, addressed to TeraWulf's CEO Paul B. Prager, requested further revisions to the company's breakeven analysis, specifically to illustrate the impact of hardware purchasing costs on its mining operations. The SEC highlighted the substantial expense of purchasing mining equipment, as indicated by the $8.2 million depreciation expense related to property, plant, and equipment for the quarter ended September 30, 2023, and the fact that TeraWulf's miners have a useful life of approximately four years. The SEC has asked TeraWulf to amend its registration statement and provide the requested information, or to explain why the company believes the comment does not apply or an amendment is not appropriate. The SEC noted that after reviewing TeraWulf's response, there may be additional comments.