![[terawulf_logo.svg|300]] Company website: https://www.terawulf.com/ ### Introduction TeraWulf Inc., a leading digital asset technology company specializing in environmentally sustainable Bitcoin mining and high-performance computing (HPC) infrastructure, was founded in 2021 by Paul Prager and Nazar Khan. Headquartered in Easton, Maryland, the company's mission is to advance the energy transition by building and operating next-generation data centers that provide zero-carbon, low-cost power for Bitcoin mining and HPC/AI applications, fostering innovative ideas for sustainability and social progress. The company's key focus areas include expanding self-mining capacity to 12.2 EH/s (achieved in Q1 2025), delivering HPC hosting infrastructure (72.5 MW to Core42 in 2025), and targeting 200-250 MW HPC capacity by 2026 through strategic partnerships and site expansions. As a publicly traded entity (NASDAQ: WULF), TeraWulf prioritizes ESG principles, using over 90% zero-carbon energy for domestically produced Bitcoin while exploring HPC diversification for stable revenue amid mining headwinds. ### Key Products and Technology - **Bitcoin Mining Operations**: Self-mining using zero-carbon energy sources like nuclear and hydro, with capacity increased to 12.2 EH/s in Q1 2025 (52.5% YoY growth). Features include low-cost power, efficient fleet upgrades, and dynamic load management; applications secure the Bitcoin network, producing Bitcoin with a focus on sustainability (e.g., held $219.6M in cash and Bitcoin as of March 31, 2025). - **HPC/AI Hosting Infrastructure**: Dedicated data halls for HPC hosting, on track to deliver 72.5 MW to Core42 in 2025, with plans for 200-250 MW by 2026. Features grid-aligned strategies like curtailment, low-carbon power; applications support AI/HPC operators, monetizing power responsiveness for stable yields (e.g., similar EBITDA to mining but with lower risk). - **Data Center Development**: Next-generation facilities like CB-1 (20 MW HPC/AI at Lake Mariner, completion Q1 2025) and expansions for bitcoin mining/HPC hybrid models. Technologies focus on energy efficiency and scalability; applications enable compute infrastructure for Bitcoin and AI, with net yields enhanced through partnerships. ### Team and Leadership - **Paul Prager, Co-Founder, Chairman, and Chief Executive Officer**: Leads overall strategy and execution; over 30 years in energy infrastructure development, emphasizing sustainable mining and HPC growth. [@paulprager](https://x.com/paulprager). - **Nazar Khan, Co-Founder and Chief Technology Officer**: Oversees technology and operations; expertise in blockchain and energy, driving mining efficiency and HPC buildouts; serves on the board since February 2021. - **Kerri Langlais, Chief Strategy Officer**: Manages strategic initiatives and partnerships; focuses on ESG and growth in HPC/AI. - **Patrick Fleury, Chief Financial Officer**: Handles financial planning and investor relations; key in funding for expansions. - **Sean Farrell, Chief Operating Officer**: Promoted in November 2024 (continuing into 2025); oversees daily operations and reports to CTO Nazar Khan. ### Recent News and Developments (2025) | Date | Event | Details | |------------|--------------------------------|-------------------------------------------------------------------------| | July 3, 2025 | Sale of Cipher Mining Shares | Affiliate V3 Holding sold 1 million shares as part of portfolio rebalancing. | | May 27, 2025 | Acquisition of Beowulf Electricity & Data | Acquired to streamline corporate structure and operations; guidance for SG&A $40-45M and operating expenses $20-25M in 2025. | | May 9, 2025 | Q1 2025 Financial Results | Self-mining capacity up 52.5% YoY to 12.2 EH/s; held $219.6M in cash/Bitcoin; commenced HPC data halls buildout for 72.5 MW delivery to Core42 in 2025. | | March 4, 2025 | Participation in Conferences | Attended Bitcoin Ski Summit, Cantor Global Technology Conference, and 37th Annual Roth Conference to discuss growth and HPC initiatives. | | February 28, 2025 | Q4 and Full Year 2024 Results | Focused on executing 72.5 MW HPC hosting for 2025; strong emphasis on sustainable mining and diversification. | | February 4, 2025 | Partnership with Luxor for LuxOS Firmware | Deployed firmware for enhanced ASIC performance, efficiency, and reliability in mining operations. | ### Partnerships and Collaborations - **Core42**: Agreement to deliver over 70 MW of data center infrastructure for HPC hosting, with 72.5 MW set for 2025; provides low-cost, zero-carbon power and operations. - **Luxor Technology**: Partnered in February 2025 to deploy LuxOS firmware for improved ASIC mining performance and reliability. - **Talen Energy Corporation**: Monetized equity in Nautilus Cryptomine JV in October 2024 (impacting 2025 operations), shifting to fully owned facilities. - **Swiss Investment Firm**: Launched Bitcoin mining fund in March 2025 for institutional access to mining. ### Closing Note As a publicly traded company (NASDAQ: WULF) with $219.6 million in cash and Bitcoin holdings as of March 31, 2025, and a $350 million convertible notes offering in late 2024, TeraWulf is in a mature growth stage, with a positive future outlook driven by 12.2 EH/s mining capacity, 72.5 MW HPC delivery in 2025, and projected expansion to 200-250 MW HPC by 2026 amid market headwinds. *Report generated July 28, 2025*