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TeraWulf | 8-K: Current report

SEC announcement ·  Jan 3 13:00
Summary by Futu AI
On January 3, 2024, TeraWulf Inc., a Delaware-incorporated company listed on the Nasdaq with the trading symbol WULF, issued a press release providing an unaudited update on its production and operations for December 2023. The company, which operates environmentally clean bitcoin mining facilities in the United States, reported mining 334 bitcoins in December, bringing the year-to-date total to 3,401 bitcoins. TeraWulf highlighted the operational readiness of Building 3 at its Lake Mariner facility, with the deployment of 18,500 S19j XP miners expected in February 2024. Additionally, the company is constructing Building 4 to further expand its mining operations and is planning an expansion of its high-performance computing project to support generative AI in 2024. TeraWulf also announced its intention to repay approximately $14 million of debt with cash...Show More
On January 3, 2024, TeraWulf Inc., a Delaware-incorporated company listed on the Nasdaq with the trading symbol WULF, issued a press release providing an unaudited update on its production and operations for December 2023. The company, which operates environmentally clean bitcoin mining facilities in the United States, reported mining 334 bitcoins in December, bringing the year-to-date total to 3,401 bitcoins. TeraWulf highlighted the operational readiness of Building 3 at its Lake Mariner facility, with the deployment of 18,500 S19j XP miners expected in February 2024. Additionally, the company is constructing Building 4 to further expand its mining operations and is planning an expansion of its high-performance computing project to support generative AI in 2024. TeraWulf also announced its intention to repay approximately $14 million of debt with cash generated in the fourth quarter of 2023, with an $11 million repayment expected in January 2024. The company's management provided commentary on the operational improvements and financial performance, emphasizing the strong cash flow and debt reduction plans. TeraWulf's forward-looking statements in the press release detailed various factors, risks, and uncertainties that could affect future results.

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