Today's closing remarks from $WULF CEO @PaulBPrager at today's Annual Meeting of Shareholders 👉
"Before we close today's meeting, I would like to highlight some of TeraWulf's achievements over the course of the last year and underscore what I believe unquestionably sets WULF apart...
1. We have the best assets. Our two mining facilities are arguably the best in the industry. With excellent power costs, ideal climate, and meaningful immediate growth capacity, Lake Mariner and Nautilus are far ahead of the pack. As a #zerocarbon miner, we believe we are strategically positioned relative to our peers in what will be an increasingly stringent regulatory environment.
2. We have the #energy advantage: Our team has been working together in the energy infrastructure sector for more than 25 years. This is what we do. We know how to procure low-cost power both at TERM and SCALE. Just look at what we have. Our two-cent power at Nautilus and abundant low-cost power in Upstate New York translates into a power cost per #Bitcoin produced of approximately $9,000, which is among the lowest in the sector.
3. We have accomplished unparalleled growth. Over the course of 12 months, TeraWulf has built two world-class #mining facilities, that as of today are delivering 5.5 EH/s and 160 MW of power capacity with the completion of Building 2 at Lake Mariner, turned over this morning from our construction to operations team in record time. I encourage you to compare what we have built in a year relative to what it took other Bitcoin miners years to achieve. As a vertically integrated miner, we own our sites and our destiny.
4. We can expand organically at existing sites. Scalability and adaptability are vital, and our Lake Mariner and Nautilus facilities have both. We have the shovel-ready ability to nearly double our hashing capacity at our existing sites. And while the best growth opportunities may exist within our portfolio, that does not preclude us from evaluating opportunities to take our experience and strategy to new projects or places. Regardless of how we do it, we will continue to expand in a financially responsible way.
Lastly, I want to briefly touch on the political climate in the United States. We embrace thoughtful regulation and believe it will only further validate the sector and endorse the social good enabled by Bitcoin. We will continue to collaborate with regulators and legislators to explain and demonstrate the value that #sustainable Bitcoin mining can have on the #energygrids and communities where we operate. Importantly, as a zero-carbon miner, we are not vulnerable to the volatility or regulatory risk of fossil fuel-based production.
In closing, I want to thank you, our shareholders, for your continued trust, confidence, and motivation to be part of the TeraWulf team."
- Paul Prager
Due to the overwhelming response around our site tours and our focus on transparency and inclusivity of all $WULF investors, we have decided to move our facility tours to a 100% virtual format!
Next month, the @TeraWulfInc team will host the first-ever webcast touring both of WULF’s #Bitcoin mining facilities: the #NuclearPowered Nautilus facility and the #HydroPowered Lake Mariner facility.
Follow @TeraWulfInc and stay tuned for details so you can be a part of this milestone event 🐺⛏️
In summary, 2022 was just the beginning.
Our vertically integrated, build/own/and operate business model had us a bit behind the more immediate revenue gratification of host models followed by many other public miners. But we have now arrived. We ARE the #zerocarbon, low-cost, right-cap structure, sustainable miner we promised we would become.
We are not vulnerable to the volatility or regulatory risk of fossil fuel-based production. We own our facilities, enabling better and more predictable outcomes in all elements of #Bitcoin generation.
Our team has boatloads of experience in developing, owning, and operating both power plants and Bitcoin mining facilities. And most importantly, management is entirely aligned with our investors, with over 50% insider, board, and management shareholdings.
As we move further into 2023, we are poised to play offense. Our commitment is to deliver best-in-class execution at full scale, and position @TeraWulfInc as THE pre-eminent Bitcoin miner $WULF 🐺
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.
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@0xScrumy @AChanNers @Dhruba8811 @mohanraj_86@BartekKa78@FatManTerra sorry one more question, do we need them to be in a terra station wallet or if my friend holds on Binance exchange, will she get them there? thanks!
A new episode of @OnTheBrinkCIV podcast with @nic_carter just dropped, featuring our CEO & cofounder @PaulBPrager giving the lowdown on building a zero-carbon mining operation using a vertical integration strategy! Listen here: https://t.co/HJGVjS1jS1
Waiting at the DMV to pay my three $100 tickets for going 36mph (1 mph over the speed limit)… at least the building is nice thanks to the $$$ the DMV is taking with its hundreds of speed cameras…