Thank you to all our investors, partners, and fellow WULFpack members for working with us to build the leading mining company. Shares of TeraWulf (WULF), an environmentally minded bitcoin miner, plunged almost 30% in their first day of trading on Tuesday. Lorsque vous utilisez nos sites et applications, nous utilisons des, authentifier les utilisateurs, appliquer des mesures de scurit, empcher les spams et les abus; et. There can be no assurance that future developments will be those that have been anticipated. from the University of Pennsylvania. Mr. Harrison holds an MBA in Finance & Accounting from Loyola University and a B.A. Before that, he was a Managing Director at Blackstones global credit platform, GSO Capital Partners. Dear Shareholders, It has been four weeks since I shared my reflections on TeraWulf's achievements in 2022 and stated goals for 2023. TeraWulfs business is conducted by its employees and executive officers with oversight from a distinguished and diversified board of directors. Co-Founder, Chairman & Chief Executive Officer, Co-Founder, Chief Operating Officer & Chief Technology Officer. Terawulf met en place une usine minire alimente par l'nergie nuclaire appele Nautilus. Sean Farrell is a Vice President of Operations for TeraWulf Inc., where he is responsible for coordinating and overseeing the companys data center operations and vertical integration strategy. Path to Positive Cash Flow from Operations in 2023 and Beyond. For the last 8 years, he served as Vice President of Investor Relations at Semtech Corporation, managing and growing the investor relations program. I said that I was right alongside you as a shareholder and that I would continue to invest personally in TeraWulf. New Executive Interview with TeraWulf CTO and COO Nazar Khan. After submitting your request, you will receive an activation email to the requested email address. Paul Prager and his family had been flying via helicopter between Manhattan and Easton, Maryland, for many yearsChesapeake Bay retrievers in towsplitting time between their five-bedroom Fifth Avenue co-op perched over the Met and their 250-acre estate on the Miles River, called Maiden Point Farm. Paul B. Prager's Terawulf shares are currently valued at $15.81M. TeraWulf is led by an accomplished, diverse management team with 30+ years of experience in developing and managing energy infrastructure and disruptive technology. Kerri Langlais is the Chief Strategy Officer for TeraWulf Inc., where she is responsible for the development and implementation of the Companys overall corporate strategy, business development, strategic partnerships, and growth initiatives. and a B.A. Event Details Bitcoin Miami - LIVE Panel with TeraWulf CEO Paul Prager April 8, 2022 12:45 PM ET Tune into Bitcoin Miami's LIVE Mining Stage stream featuring TeraWulf's CEO, Paul Prager. Also Known As Paul B. Prager. Energy Intensive Bitcoin Mining: Can the Use of Renewables Answer Critics of Cryptocurrency. Se non vuoi che noi e i nostri partner utilizziamo i cookie e i dati personali per questi scopi aggiuntivi, clicca su "Rifiuta tutto". in Industrial Psychology & History from Washington & Lee University. You must click the activation link in order to complete your subscription. Paul Prager, Chairman & Chief Executive Officer of TeraWulf, said, "TeraWulf represents an exciting new paradigm for cryptocurrency mining, which is built on a significant strategic. Most recently, Ms. Langlais was an executive at Beowulf Energy LLC, a leading private energy infrastructure company, where she led the companys M&A and financing efforts. Our best days are ahead of us. Marathon Patent Group Company Contact: Jason Assad Telephone: 678-570-6791 With over 40 years of experience, Mr. Pincus has extensive experience in the energy and high-tech sectors. Led by an experienced group of energy entrepreneurs, the Company is currently operating and/or completing construction of two mining facilities: Lake Mariner in New York, and Nautilus Cryptomine in Pennsylvania. Mr. Prager has extensive investment and entrepreneurial experience in international shipping, commodity trading and power generation. Mr. Prager has also founded and has been the President of Beowulf Energy LLC and its. Co-Founder, and Chief Executive Officer of TeraWulf Inc. Paul Prager, Chief Executive Officer and chairman of the board of TeraWulf, will participate in the Bitcoin 2022 Conference to speak on the Building New Grids panel on April 8, 2022 at 12:45 p.m . Cassie Motz is the Executive Director of the CollegeBound Foundation inBaltimore. If you experience any issues with this process, please contact us for further assistance. Paul Prager to Lead TeraWulf Foundation for Social Health Sustainability Programs January 13, 2022 by Spy Desk Email TeraWulf today announced the formation of the TeraWulf Charitable Foundation, a private, philanthropic organization focused on funding and participating in social health, environmental and sustainability programs. "TeraWulf made remarkable operational advancements in January as we continued to make significant progress towards expanding capacity at Lake Mariner with the addition of Building 2, and energization of the Nautilus Cryptomine facility, which will be the first behind the meter bitcoin mining facility utilizing low cost, zero-carbon nuclear power at scale in the U.S.," stated Paul Prager . At TeraWulf, we promise to treat your data with respect and will not share your information with any third party. Terawulf aims to promote eco-friendly Bitcoin mining Terawulf advertised itself as a "leading sustainable Bitcoin mining firm" when it was founded in 2021 by Nazar Khan and Paul Prager, who. Ms. Langlais brings more than 20 years of M&A, financing, strategy and power sector experience. You must click the activation link in order to complete your subscription. | Privacy Policy, February 2023 Open Letter from TeraWulf Chairman and CEO Paul Prager, An Open Letter from TeraWulf Chairman and CEO Paul Prager. You must click the activation link in order to complete your subscription. As COO and CTO, Mr. Khan oversees the development and implementation of TeraWulfs day-to-day operations, including hardware procurement, site evaluation, infrastructure buildout and identification of future growth opportunities. from the University of Pennsylvania. from Heidelberg University and an LL.M. TeraWulf's Co-Founder and CEO, Paul Prager, commented, "The amendments to the Nautilus JV agreement enable TeraWulf to reduce our near-term capital obligations at the Nautilus Cryptomine . Successfully navigated extreme operating conditions during Winter Storm Elliot (the "Storm"), quickly returning to full output at the Storms close. After several weeks of constructive dialogue with our lenders, we have reached an agreement on modifying the terms of our debt to eliminate near-term amortization and thereby optimize TeraWulfs financial flexibility through market cycles. At TeraWulf, we promise to treat your data with respect and will not share your information with any third party. Mr. Fleury received a BA, magna cum laude, in Economics and Government & Legal Studies from Bowdoin College. Kerri Langlais is the Chief Strategy Officer for TeraWulf Inc., where she is responsible for the development and implementation of the Companys overall corporate strategy, business development, strategic partnerships, and growth initiatives. "We believe the continued ramp of our proprietary mining capacity coupled with our industry-leading power costs distinguishes TeraWulf as one of the lowest cost Bitcoin miners in the sector," continued Prager. Management Investment: today, TeraWulf also announced that its co-founders, Paul Prager, Chief Executive Officer, and Nazar Khan, Chief Operating Officer, purchased $2.5 million in a private placement at a market price of $1.05 per share (the last reported sale price of the Company's common stock on the Nasdaq on January 26, 2023). Our priority continues to be reducing costs and deploying those resources towards the Companys path to positive cash flow from operations in 2023. Last month, I highlighted the industry-leading investment level our executive team has made in the Company and the commitment it demonstrates. After submitting your request, you will receive an activation email to the requested email address. . Ms. Fleischmann holds a J.D. Kenneth Deane is the Chief Accounting Officer and Treasurer of TeraWulf Inc., where he is responsible for managing the Companys financial functions, including accounting, audit, internal control and treasury. To opt-in for investor email alerts, please enter your email address in the field below and select at least one alert option. Fifth Amendment to Loan Agreement. An Open Letter to Shareholders from TeraWulf Chairman and CEO Paul Prager. TeraWulf cofounder and CEO Paul Prager joins us to talk about his experience building a vertically-integrated, zero carbon Bitcoin miner. and a B.A. Led by an experienced group of energy entrepreneurs, the Company is currently operating and/or completing construction of two mining facilities: Lake Mariner in New York, and Nautilus Cryptomine in Pennsylvania. Investors are referred to the full discussion of risks and uncertainties associated with forward-looking statements and the discussion of risk factors contained in the Companys filings with the SEC, which are available at www.sec.gov. All Rights Reserved. Prior to TeraWulf, Mr. Prager has been the Founder and CEO at Beowulf Energy LLC and predecessor companies since 1990. He is also part of the global Corporate Risk and Broking leadership team. Mr. Farrell has over 12 years of energy experience in renewables, grid optimization, digitalization and storage cross-business solutions. TeraWulf (Nasdaq: WULF) owns and operates vertically integrated, environmentally clean Bitcoin mining facilities in the United States. CEO Paul Prager discusses moving from energy industry, next gen bitcoin mining, joining forces with Gwyneth Paltrow. ESG is at the core of TeraWulfs corporate strategy and ties directly to its business success, risk mitigation, and reputational value. You can unsubscribe to any of the investor alerts you are subscribed to by visiting the unsubscribe section below. Mr. Khan received a B.S. 2022 Terawulf. This is HUGE. Chairman of the Board, Chief Executive Officer, Co-Founder . As COO and CTO, Mr. Khan oversees the development and implementation of TeraWulfs day-to-day operations, including hardware procurement, site evaluation, infrastructure buildout and identification of future growth opportunities. . Terawulf a dclar pour la premire fois en 2021 que la flotte de 15 000 machines minires de Nautilus aura un taux de hachage de 1,6 exahash par seconde (EH/s) lorsqu'elle atteindra sa pleine capacit plus tard au premier trimestre de . from Yale Law School. Prior to BlockTower, Mr. Bucella spent nearly a decade with Goldman Sachs in a variety of roles. Despite the turbulent backdrop, we remained steadfastly focused on building a scalable, vertically integrated Bitcoin mining company that uses low-cost, 91%+ zero-carbon energy. Ms. Prager brings broad legal, compliance, and regulatory expertise to the TeraWulf board of directors. Proprietary mining produced 125 Bitcoin in December 22, pushing Q4 22 total to 378 Bitcoin, reflecting a more than 220% increase over the Bitcoin produced in Q3 22, Total fleet of deployed miners reached 18,000 with over 2.0 EH/s of hash rate as of December 31, 2022, On track to bring additional 15,000 miners online at Nautilus Cryptomine in Q1 2023. Mr. Khan previously served as Executive Vice President of Beowulf Energy LLC for nearly 20 years, where he led the firms acquisition and development efforts. A graduate of the United States Naval Academy, Mr. Prager is a member of the investment committee and Trustee of the USNA Foundation. "TeraWulf's ability to raise private capital underscores the attractiveness of bringing a new paradigm for cryptocurrency mining to the public markets," CEO Paul Prager said in a statement. Yahoo fa parte della famiglia di brand di Yahoo. TeraWulf is an infrastructure-focused bitcoin mining company accelerating the transition to a zero-carbon future. Our corporate governance framework promotes accountability, transparency, and effective decision making to ensure the long-term success of the business. He holds a B.S. "Everyone I talk to now is talking about carbon neutrality," said Paul Prager . This past year was a transformational year for TeraWulf and the crypto industry at large. Let me be clear we have a deal that should enable the Company to pay down principal when we have available free cash flow, instead of adhering to a mandatory payment schedule. Mr. Farrell began his energy career at Siemens Energy and held positions of increasing responsibility within their Power System Sales organization in both generation and electric delivery across diverse verticals for over a decade. San Juan, Puerto Rico 00901 . Prior to joining Beowulf, Ms. Fleischmann was a Senior Associate in the Mergers and Acquisitions Group at Paul, Weiss, Rifkind, Wharton & Garrison LLP, where she worked on a wide range of private and public M&A, joint venture, cross-border and financing transactions. As we transition into 2023 and strive to execute our plan and pursue growth, we will operate with several clear priorities: So, I will close where I started with a sincere thank you. It has been four weeks since I shared my reflections on TeraWulfs achievements in 2022 and stated goals for 2023. 1 Source: Cambridge Bitcoin Electricity Consumption Index (CBECI) (ccaf.io). Mr. Khan received a B.S. in accounting from the University of Florida. As further evidence of my conviction, I have not sold a share, directly or indirectly. If you want to invest in a bitcoin mining company, come to TeraWulf. Paul Prager is the Chief Executive Officer and the chair of the board of directors of TeraWulf. The upcoming deliveries will fill the Companys 160 MW of mining capacity available in early Q2 2023 with 34,000 miners (110 MW) at its Lake Mariner facility and 15,000 miners (50 MW) at its Nautilus facility. Together, for more . Most recently, he served as North American Head of Onshore Sales and Marketing at Siemens Gamesa Renewable Energy Inc., leading the U.S. and Canadas onshore wind turbine product development and market strategy. We believe these strategic steps will position TeraWulf forlong-term, sustainable growth. And in that short period, our team has accomplished key milestones that we believe will be foundational in achieving our goal of being the preeminent miner producing bitcoin from zero-carbon energy resources at the lowest marginal cost in the sector. The Company is nearing final stages of construction at its two mining sites and expects to have a total operational capacity of 49,000 miners (5.5 EH/s) in early Q2 2023, representing about 160 MW of power demand. Paul Weiss, Rifkind, Wharton & Garrison LLP is serving as legal advisor and Moelis & Company LLC acted as exclusive placement agent to TeraWulf in connection with the debt and equity financing.. He earned a B.A. August 11th, 2021, 2:00 PM PDT. A graduate of the United States Naval Academy, Mr. Prager is a member of the investment committee and Trustee of the USNA Foundation. On March 1, 2023 (the "Fifth Amendment Effective Date"), TeraWulf Inc. (the "Company") entered into an amendment (the "Fifth Amendment") to its Loan, Guaranty and Security Agreement, dated as of December 1, 2021 (as amended, modified or supplemented from time to time, the "Loan Agreement"), by and . She began her career at Freshfields and Willkie Farr & Gallagher LLP in New York and Frankfurt, Germany. "The language has absolutely changed." But financial priorities and technological barriers in the crypto mining industry, which includes more than a dozen publicly traded companies like Argo, are preventing a complete shift to renewable . Steven Pincusserves as an Executive Vice President with global insurance companyWillis Towers Watsonand is the Global Head of Broking for the firm's FINEX business. TeraWulf Inc. is a digital asset technology company, which is engaged in the business of sustainable bitcoin mining. Mr. Harrison brings decades of experience in financial and marketing communications, equity research, financial analysis, and strategic planning. Our industrial-scale mining facilities in New York and Pennsylvania will mine Bitcoin using cost-effective, zero-carbon energy. In energy markets, location is everything and our sites are in robust, developed markets that provide premier value for the grid services we provide. She later served as a Deputy Attorney General for theDistrict of Columbiagovernment, representing the city's child welfare and mental health agencies. We will remain laser-focused on scaling mining operations at our existing sites while opportunistically pursuing strategic opportunities in a financially responsible manner. Most recently, Mr. Deane was an executive with Heorot Power Holdings LLC, an owner and operator of power generation assets. Gender Male. from Boston University and is admitted to practice law in New York and Germany. Mr. Harrison brings decades of experience in financial and marketing communications, equity research, financial analysis, and strategic planning. Location New York, New York, United States. He began his career at AIG and held senior roles at Johnson & Higgins and Aon. Nazar Khan is the Co-Founder, Chief Operating Officer, Chief Technology Officer, and Board Member of TeraWulf Inc. Mr. Khan brings tremendous experience in energy infrastructure and cryptocurrency mining and has led TeraWulfs business strategy since day one. Co-Founder, Chief Operating Officer & Chief Technology Officer. Co-Founder, Chairman & Chief Executive Officer. 2022 Terawulf. The Nautilus Cryptomine facility, a joint venture with Talen Energy Corporation, is in the initial stages of ramping its mining operations and is expected to provide 50 MW of net mining capacity to TeraWulf in Q1 2023, representing the Companys 25% interest in the joint venture. TeraWulf went public after it agreed in June to merge with Ikonics . Despite weather-related price volatility in December, the Company projects an average cost of power of approximately $0.035/kWh across its two sites. Paul Weiss, Rifkind, Wharton & Garrison LLP is serving as legal advisor and Moelis & Company LLC acted as exclusive placement agent to TeraWulf in connection with the debt and equity financing.. "TeraWulf's ability to raise private capital underscores the attractiveness of bringing a new paradigm for cryptocurrency mining to the public markets," said Paul Prager, Chairman and Chief . Klicken Sie auf Alle ablehnen, wenn Sie nicht mchten, dass wir und unsere Partner Cookies und personenbezogene Daten fr diese zustzlichen Zwecke verwenden. 53 Palmeras Street, Suite 601 . Mr. Deane brings more than 20 years of financial and operational experience in the power, high tech and public accounting sectors. Your trust and confidence in TeraWulf have helped us build a remarkable company. Ms. Langlais brings more than 20 years of M&A, financing, strategy and power sector experience. TeraWulf generates domestically produced Bitcoin powered by nuclear, hydro, and solar energy with a goal of utilizing 100% zero-carbon energy. in history and earned a J.D. in Mechanical Engineering with a certificate in Biomedical Engineering from the University of Colorado Boulder. Puoi modificare le tue scelte in qualsiasi momento cliccando sui link "Dashboard privacy" sui nostri siti e sulle nostre app. Nous, Yahoo, faisons partie de la famille de marques Yahoo. Most recently, Mr. Deane was an executive with Heorot Power Holdings LLC, an owner and operator of power generation assets. Bitcoin Miami - LIVE Panel with TeraWulf CEO Paul Prager - TeraWulf Inc. dvelopper et amliorer nos produits et services. Most recently, he served as North American Head of Onshore Sales and Marketing at Siemens Gamesa Renewable Energy Inc., leading the U.S. and Canadas onshore wind turbine product development and market strategy. in Mechanical Engineering with a certificate in Biomedical Engineering from the University of Colorado Boulder. With a core focus on ESG that ties directly to its business success, TeraWulf expects to offer attractive mining economics at an industrial scale. We efficiently procured miners to completely utilize our 160 MW of mining capacity with, Achieving our target of 49,000 operating miners (5.5 EH/s hash rate) in Q1 2023, Leveraging our blended power cost of $0.035/kWh, which is 30% lower than the industry, Optimizing our earnings power by executing on our recently announced, Expanding the suite of grid services that we offer to the market, Supporting a more collaborative approach to regulation and thoughtful calibration of the rules. Power prices increased dramatically during the severe weather event that crossed most of the United States in December, increasing Lake Mariners operating cost during the days of local impact. Meltem Demirors, Chief Strategy Officer . Company profile for TeraWulf Inc. including key executives, insider trading, ownership, revenue and average growth rates. Feb 2 2023. Potential investors, stockholders and other readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date on which they were made. Paul Prager to Speak at the 2022 Bitcoin Conference February 22, 2022 Yahoo Finance Bitcoin mining as 'energy infrastructure': TeraWulf CEO details zero carbon emission operation December 14, 2021 New York Times A New Focus on Amazon Warehouses December 13, 2021 Seeking Alpha Gwyneth Paltrow invests in green bitcoin miner TeraWulf 12> Paul Prager is the Co-Founder and Chief Executive Officer of TeraWulf Inc, and the Chairman of the Board of Directors. Insider Trading. Mr. Farrell holds a B.S. Your trust and confidence in TeraWulf have helped us build a remarkable company. Pour en savoir plus sur la faon dont nous utilisons vos donnes personnelles, veuillez consulter notre politique relative la vie prive et notre politique en matire de cookies. Before Beowulf, Ms. Langlais spent nearly a decade in the Investment Banking Division at Goldman Sachs, where she was most recently in the Natural Resources advisory group in New York. For the avoidance of doubt, I did not sell 12 million shares. Ms. Langlais received her BA in Finance and graduated with honors from Boston College. Co-Founder, and Chief Executive Officer of TeraWulf Inc. "Everyone I talk to now is talking about carbon neutrality," said Paul Prager, the CEO of TeraWulf. If you experience any issues with this process, please contact us for further assistance. Id like to take a moment to highlight a few key milestones that we achieved during our first year as a public company: What differentiates TeraWulf is that we own and operate our facilities, control our power supply and utilize 91%+ zero-carbon energy sources. TeraWulf Retweeted. The total cost of. in Industrial Psychology & History from Washington & Lee University. TeraWulf Inc. WULF ("TeraWulf" or the . Previous to this role, Mr. Bucella led the Institutional Global Equities business, also in Canada. Mr. Deane brings more than 20 years of financial and operational experience in the power, high tech and public accounting sectors. The company was founded on February 8, 2021 and is headquartered in Easton, MD. 2022 Terawulf. As a nearly entirely zero-carbon miner, we believe we are strategically positioned relative to our peers in what will be an increasingly stringent regulatory environment. Prior to TeraWulf, Mr. Prager has been the Founder and CEO at Beowulf Energy LLC and predecessor companies since 1990. Ms. Langlais also worked at Harvard University where she provided advisory to the Universitys overall financial strategy and planning. Before Beowulf, Ms. Langlais spent nearly a decade in the Investment Banking Division at Goldman Sachs, where she was most recently in the Natural Resources advisory group in New York. Prager Paul B. C/O TERAWULF INC. 9 FEDERAL STREET EASTON, MD 21601 X X Chief Executive Officer Signatures /s/ Paul B. Prager 3/1/2023 HYPERLINK "" \l "**Signature of Reporting Person Date Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. We have said all along the amount of monies required to achieve free cash flow positive operations, and we have now reached that important milestone. Mr. Quando utilizzi i nostri siti e le nostre app, noi utilizziamo i. autenticare gli utenti, applicare misure di sicurezza e prevenire spam e abusi; misurare l'utilizzo dei nostri siti e delle nostre app. 4. Paul B Prager owns about 31,534,679 units of Terawulf Inc common stock. Patrick Fleury is the Chief Financial Officer of TeraWulf Inc., where he is responsible for directing and overseeing the financial activities of the Company, including investment of funds and additional capital for expansion. Press Releases. Vous pouvez modifier vos choix tout moment en cliquant sur le lien Tableau de bord sur la vie prive prsent sur nos sites et dans nos applications. Ted Carter became the eighth president of theUniversity of NebraskainJanuary 2020after retiring as Vice Admiral following 38 years of service in the U.S.Navy. If you experience any issues with this process, please contact us for further assistance. Paul Prager Co-Founder, Chairman & Chief Executive Officer Paul Prager is the Co-Founder, Chairman of the Board, and Chief Executive Officer of TeraWulf Inc. Forward-looking statements are based on the current expectations and beliefs of TeraWulfs management and are inherently subject to a number of factors, risks, uncertainties and assumptions and their potential effects. in accounting from the University of Florida. To opt-in for investor email alerts, please enter your email address in the field below and select at least one alert option. As an Assistant U.S. Attorney, Ms. Prager handled federal cases involving terrorism, wire and mail fraud, economic espionage, and export control violations, among other matters. Before entering private practice, Ms. Prager was a federal prosecutor in the U.S. Attorneys Office for the District of Columbia, as well as Acting Assistant Secretary and Deputy Assistant Secretary for Export Enforcement at the U.S. Department of Commerces Bureau of Industry and Security. Stefanie Fleischmann is General Counsel & Secretary of TeraWulf Inc., where she oversees all legal and compliance matters for the company. from Heidelberg University and an LL.M. This has been our business for over 30 years. February 2023 Open Letter from TeraWulf Chairman and CEO Paul Prager . TeraWulf's Prager on cryptocurrency market. Paul Prager is the founder of Beowulf Energy LLC, a private, independent infrastructure holding company that develops, builds, owns, and operates power generation and energy infrastructure. A Peek Into the Origins of TeraWulf and Our Up-and-Coming Nuclear Facility. 1 December 2022 results are based on estimated power costs, which remain subject to standard month end adjustments. 2022 Terawulf. 1 public school ranking by Forbes and expanded academic opportunity and diversity. Mr. Prager has extensive investment and entrepreneurial experience in international shipping, commodity . and a B.A. Kenneth Deane is the Chief Accounting Officer and Treasurer of TeraWulf Inc., where he is responsible for managing the Companys financial functions, including accounting, audit, internal control and treasury. For the last 8 years, he served as Vice President of Investor Relations at Semtech Corporation, managing and growing the investor relations program. Paul Prager, TeraWulf's CEO, said in a statement: "Disposition of the Ikonics legacy business allows the TeraWulf management team to focus our energies on the continued build-out of our zero . By providing your email address below, you are providing consent to TeraWulf to send you the requested Investor Email Alert updates. Mr. Prager has extensive investment and entrepreneurial experience in international shipping, commodity trading and power generation. We are prepared to demonstrate the importance of what we do and how we do it. Most recently, he ran the Multi-Asset Sales & Trading business in Canada and led efforts to expand this strategy globally. Let me quickly highlight what undeniably sets WULF apart from our peers: Every move from this point forward is about advancingourmissionandpushingthe boundaries of what is possible for our business and our shareholders. Paul Prager is the Chairman, Co-Founder & CEO at TeraWulf. Actual results may vary materially from those expressed or implied by forward-looking statements based on a number of factors, risks, uncertainties and assumptions, including, among others: (1) conditions in the cryptocurrency mining industry, including fluctuation in the market pricing of Bitcoin and other cryptocurrencies, and the economics of cryptocurrency mining, including as to variables or factors affecting the cost, efficiency and profitability of cryptocurrency mining; (2) competition among the various providers of cryptocurrency mining services; (3) changes in applicable laws, regulations and/or permits affecting TeraWulfs operations or the industries in which it operates, including regulation regarding power generation, cryptocurrency usage and/or cryptocurrency mining; (4) the ability to implement certain business objectives and to timely and cost-effectively execute integrated projects; (5) failure to obtain adequate financing on a timely basis and/or on acceptable terms with regard to growth strategies or operations (6) loss of public confidence in Bitcoin or other cryptocurrencies and the potential for cryptocurrency market manipulation (7) the potential of cybercrime, money-laundering, malware infections and phishing and/or loss and interference as a result of equipment malfunction or break-down, physical disaster, data security breach, computer malfunction or sabotage (and the costs associated with any of the foregoing) (8) the availability, delivery schedule and cost of equipment necessary to maintain and grow the business and operations of TeraWulf, including mining equipment and infrastructure equipment meeting the technical or other specifications required to achieve its growth strategy; (9) employment workforce factors, including the loss of key employees; (10) litigation relating to TeraWulf, RM 101 f/k/a IKONICS Corporation and/or the business combination; (11) the ability to recognize the anticipated objectives and benefits of the business combination; and (12) other risks and uncertainties detailed from time to time in the Companys filings with the Securities and Exchange Commission ("SEC").