TeraWulf Introduces December 2022 Manufacturing as well as Procedures Updates

January 9, 2023

EASTON, Md.–( SERVICE CABLE)– Today TeraWulf Inc. (Nasdaq: WULF) (” TeraWulf” or the “Firm”), which possesses as well as runs up and down incorporated, residential Bitcoin mining centers powered by greater than 91% zero-carbon power, supplied an unaudited month-to-month manufacturing as well as procedures upgrade for December 2022.

December 2022 Emphasizes

  • Self-mined 125 Bitcoin in December 2022 for an overall of 378 Bitcoin generated in Q4 2022, a 223% rise as contrasted to 117 Bitcoin generated in Q3 2022.
  • Fleet of released miners got to around 18,000 with a hash price ability over 2.0 EH/s.
  • Effectively browsed severe operating problems throughout Winter months Tornado Elliot (the “Tornado”), rapidly going back to complete result at the Tornado’s close.
  • Regardless of weather-related cost volatility in December, the Firm tasks a typical expense of power of around $0.035/ kWh throughout its 2 websites.

Trick Metrics

Q3.

2022

October.

2022

November.

2022

December.

2022
1

Bitcoin (Self-Mined).

117.

119.

134.

125.

Self-Mining Earnings ($ M).

$ 2.4.

$ 2.3.

$ 2.4.

$ 2.1.

Hosting Earnings ($ M).

$ 1.4.

$ 0.9.

$ 0.7.

$ 0.9.

Power Price ($ M).

$ 4.8.

$ 2.0.

$ 1.4.

$ 2.2.

Avg. Running Hash Price (EH/s).

0.7.

1.6.

1.9.

1.5.

Earnings per Bitcoin.

$ 20,657.

$ 19,646.

$ 17,617.

$ 17,005.

Power Price per Bitcoin.

$ 20,732.

$ 11,060.

$ 6,151.

$ 12,984.

Manufacturing as well as Procedures Update

The Firm runs around 18,000 Bitcoin miners with a hash price ability over 2.0 EH/s at its Lake Seafarer center. Regarding 11,500 are exclusive miners with a hash price ability of around 1.4 EH/s. The approximate continuing to be 6,500 miners (0.7 EH/s) are run according to organizing plans where the Firm obtains a charge as well as gets involved monetarily in mining earnings.

Throughout December 2022, the Firm obtained around 4,500 miners as well as an added 3,750 miners were supplied throughout the very first week of January 2023 from Bitmain Technologies Limited (” Bitmain”). The Firm is arranged to get over 18,000 extra miners from Bitmain over the coming months. The upcoming distributions will certainly fill up the Firm’s 160 MW of mining ability readily available in very early Q2 2023 with 34,000 miners (110 MW) at its Lake Seafarer center as well as 15,000 miners (50 MW) at its Nautilus center.

Power rates enhanced substantially throughout the serious climate occasion that went across a lot of the USA in December, raising Lake Seafarer’s operating expense throughout the days of regional effect. The Lake Seafarer center resources magnificently valued power in Western New york city where 91% of market power originates from zero-carbon sources, consisting of from the Niagara Hydroelectric Power Plant, which lies 35 miles from the Lake Seafarer center. Considering that the Tornado’s separation, New york city market value have actually dealt with to pre-December degrees. The Nautilus Cryptomine, situated in Berwick, Pennsylvania, is straight attached to the Susquehanna Nuclear Terminal as well as pays a five-year fixed-price of $0.02/ kWh, amongst the most affordable in the Bitcoin mining market. The Firm preserves its approximated typical power expense of around $0.035/ kWh throughout its profile.

” December stood for one more month of durable development for TeraWulf. Our procedures group efficiently preserved our mining procedures as well as released extra miners at Lake Seafarer throughout among the toughest climate occasions to strike the area, while additionally sustaining the grid throughout durations of severe stress and anxiety,” specified Paul Prager, Founder as well as President of TeraWulf. “Our team believe the ongoing ramp of our exclusive mining ability paired with our industry-leading power expenses identifies TeraWulf as one of the most affordable expense Bitcoin miners in the market,” proceeded Prager. “For 2023, we intend to boldy broaden our released hash price as we remain to get miner deliveries with an objective of getting to 5.5 EH/s of lasting, running mining ability.”.

Facilities Update

The Firm is nearing lasts of building and construction at its 2 mining websites as well as anticipates to have an overall functional ability of 49,000 miners (5.5 EH/s) in very early Q2 2023, standing for regarding 160 MW of power need. Today, the Firm’s wholly-owned Lake Seafarer center has around 60 MW of functional mining ability, as well as TeraWulf anticipates to get to 110 MW of ability at the center in Q2 2023. The Nautilus Cryptomine center, a joint endeavor with Talen Power Company, remains in the first phases of ramping its mining procedures as well as is anticipated to give 50 MW of internet mining ability to TeraWulf in Q1 2023, standing for the Firm’s 25% rate of interest in the joint endeavor.

Regarding TeraWulf

TeraWulf (Nasdaq: WULF) possesses as well as runs up and down incorporated, ecologically tidy Bitcoin mining centers in the USA. Led by a seasoned team of power business owners, the Firm is presently running and/or finishing building and construction of 2 mining centers: Lake Seafarer in New York City, as well as Nautilus Cryptomine in Pennsylvania. TeraWulf creates locally generated Bitcoin powered by nuclear, hydro, as well as solar power with an objective of using 100% zero-carbon power. With a core concentrate on ESG that connects straight to its company success, TeraWulf anticipates to use eye-catching mining business economics at a commercial range.

Progressive Declarations

This news release has positive declarations within the definition of the “secure harbor” stipulations of the Personal Stocks Lawsuits Reform Act of 1995, as modified. Such positive declarations consist of declarations worrying awaited future occasions as well as assumptions that are not historic realities. All declarations, besides declarations of historic reality, are declarations that can be considered positive declarations. Furthermore, positive declarations are normally recognized by words such as “strategy,” “think,” “objective,” “target,” “objective,” “anticipate,” “expect,” “plan,” “overview,” “price quote,” “projection,” “job,” “proceed,” “could,” “might,” “might,” “feasible,” “possible,” “forecast,” “should,” “would certainly” as well as various other comparable words as well as expressions, although the lack of these words or expressions does not imply that a declaration is not positive. Progressive declarations are based upon the present assumptions as well as ideas of TeraWulf’s administration as well as are naturally based on a variety of aspects, dangers, unpredictabilities as well as presumptions as well as their possible results. There can be no guarantee that future advancements will certainly be those that have actually been prepared for. Real outcomes might differ materially from those shared or suggested by positive declarations based upon a variety of aspects, dangers, unpredictabilities as well as presumptions, consisting of, to name a few: (1) problems in the cryptocurrency mining market, consisting of variation on the market rates of Bitcoin as well as various other cryptocurrencies, as well as the business economics of cryptocurrency mining, consisting of regarding variables or aspects influencing the expense, performance as well as productivity of cryptocurrency mining; (2) competitors amongst the different service providers of cryptocurrency mining solutions; (3) adjustments in relevant regulations, policies and/or allows influencing TeraWulf’s procedures or the markets in which it runs, consisting of policy pertaining to power generation, cryptocurrency use and/or cryptocurrency mining; (4) the capability to execute particular company goals as well as to prompt as well as cost-effectively implement incorporated tasks; (5) failing to acquire sufficient funding on a prompt basis and/or on appropriate terms when it come to development methods or procedures ; (6) loss of public self-confidence in Bitcoin or various other cryptocurrencies as well as the capacity for cryptocurrency market control ; (7) the capacity of cybercrime, money-laundering, malware infections as well as phishing and/or loss as well as disturbance as an outcome of tools breakdown or break-down, physical catastrophe, information safety violation, computer system breakdown or sabotage (as well as the expenses related to any one of the foregoing) ; (8) the accessibility, shipment routine as well as expense of tools needed to preserve as well as expand business as well as procedures of TeraWulf, consisting of mining tools as well as facilities tools fulfilling the technological or various other requirements needed to accomplish its development approach; (9) work labor force aspects, consisting of the loss of crucial workers; (10) lawsuits associating with TeraWulf, RM 101 f/k/a IKONICS Company and/or business mix; (11) the capability to identify the awaited goals as well as advantages of business mix; as well as (12) various other dangers as well as unpredictabilities described every so often in the Firm’s filings with the Stocks as well as Exchange Compensation (” SEC”). Possible capitalists, shareholders as well as various other visitors are warned not to position unnecessary dependence on these positive declarations, which talk just since the day on which they were made. TeraWulf does not think any type of commitment to openly upgrade any type of positive declaration after it was made, whether as an outcome of brand-new info, future occasions or otherwise, other than as needed by regulation or policy. Capitalists are described the complete conversation of dangers as well as unpredictabilities related to positive declarations as well as the conversation of danger aspects included in the Firm’s filings with the SEC, which are readily available at www.sec.gov.

1 December 2022 outcomes are based upon projected power expenses, which stay based on basic month end modifications.

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