Brings strong financial and ESG expertise to TeraWulf as it prepares to begin mining operations
EASTON, MD., February 14, 2022 /PRNewswire/ — TeraWulf Inc. (Nasdaq: WULF) (“TeraWulf”), which was established to own and operate fully integrated, environmentally friendly bitcoin mining facilities in United Statestoday announced the appointment of William “Sandy” Harrison as Vice President of Investor Relations, effective immediately.
Mr. Harrison brings to TeraWulf significant experience in financial and marketing communications, equity research, financial analysis and strategic planning. Most recently, he served as Vice President of Investor Relations at Semtech Corporation for eight years, with responsibility for leading the company’s investor relations program and building its environmental, sustainable and governance (ESG). Prior to joining Semtech, Mr. Harrison held analyst roles with increasing levels of responsibility at Wunderlich Securities, Signal Hill Capital Group and Pacific Growth Equities. Mr. Harrison holds a Masters of Business Administration in Finance and Accounting from Loyola University and a bachelor’s degree in industrial psychology and the history of Washington & Lee University.
TeraWulf began trading on the Nasdaq Stock Market LLC in December 2021 after finalizing its business combination with IKONICS Corporation. The company is developing two fully integrated and environmentally friendly bitcoin mining facilities, Lake Mariner in New York and Nautilus Cryptomine in Pennsylvania, with the goal of 800 megawatts of mining capacity deployed by 2025, enabling over 23 exahash per second of expected hashrate. The Lake Mariner facility is expected to begin mining operations in the first quarter.
“Sandy’s unique mix of experiences is a natural fit for TeraWulf, bringing expertise in investor relations and ESG programs, a comprehensive understanding of financial markets and deep investor relations,” said Paul Prager, CEO and Chairman of the Board of TeraWulf. “We are excited to have him join the team as we finalize preparations to begin mining operations at Lake Mariner this quarter. With a fully integrated and environmentally responsible platform, we expect to be in able to offer an attractive economy and move towards our goal of providing bitcoin produced in the country and powered by 100% carbon-free energy.”
“With a seasoned team of energy industry experts who understand the complex logistics required to undertake industrial-scale bitcoin mining, as well as a true commitment to strong ESG values, TeraWulf truly stands out as best in class,” said Harrison. “I look forward to putting my skills to work as we establish TeraWulf as the leader in fully integrated, environmentally friendly bitcoin mining.”
TeraWulf (Nasdaq: WULF) was formed by an experienced group of energy entrepreneurs to own and operate fully integrated, environmentally friendly bitcoin mining facilities in United States. The Company is developing two mining facilities, Lake Mariner at New York and Nautilus Cryptomine in Pennsylvania, with the goal of 800 megawatts of mining capacity deployed by 2025, enabling over 23 exahash per second of expected hashrate. TeraWulf will generate locally produced bitcoins powered by nuclear, hydro, and solar power with the goal of using 100% carbon-free energy. With a core ESG objective that ties focus to its business success, TeraWulf expects to deliver an attractive mining economy on an industrial scale.
For more information on TeraWulf, please visit www.TeraWulf.com or follow @TeraWulfInc on Twitter.
This press release contains forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, as amended. These forward-looking statements include statements regarding anticipated future events and expectations that are not historical facts. All statements, other than statements of historical fact, are statements that could be considered forward-looking statements. In addition, forward-looking statements are generally identified by words such as “plan”, “believe”, “expect”, “anticipate”, “intend”, “outlook”, “estimate”, ” plan”, “plan”, “continue”, “could”, “may”, “could”, “possible”, “potential”, “predict”, “should”, “would” and other similar words and expressions , although the absence of such words or phrases does not mean that a statement is not forward-looking. Forward-looking statements are based on the current expectations and beliefs of TeraWulf’s management and are inherently subject to a number of factors, risks, uncertainties and assumptions and their potential effects. There can be no assurance that future developments will be those anticipated. Actual results could differ materially from those expressed or implied by the forward-looking statements depending on a number of factors, risks, uncertainties and assumptions, including, among others: (1) conditions of the cryptocurrency mining industry, including market price fluctuation of bitcoin and other cryptocurrencies, and the economics of cryptocurrency mining, including with respect to variables or factors affecting the cost, efficiency and profitability of cryptocurrency mining; (2) competition among different data mining service providers; (3) changes in applicable laws, regulations, and/or permits affecting TeraWulf’s operations or the industries in which it operates, including regulation regarding power generation, use of cryptocurrency, and/or cryptocurrency mining; (4) the ability to implement certain business objectives and execute corporate projects in a timely and cost-effective manner; (5) failure to obtain adequate financing on a timely basis and/or on acceptable terms with respect to growth strategies or operations; (6) loss of public confidence in bitcoin or other cryptocurrencies and the potential for manipulation of the cryptocurrency market; (7) the potential for cybercrime, money laundering, malware and phishing infections and/or loss and interference resulting from equipment malfunction or failure, physical disaster, data security breach, computer malfunction or sabotage (and costs associated with any of the above); (8) the availability, delivery schedule and cost of equipment necessary to maintain and develop TeraWulf’s business and operations, including mining equipment and equipment meeting the technical or other specifications required to carry out its growth strategy; (9) employment-related factors, including the loss of key employees; (10) litigation relating to TeraWulf, IKONICS and/or the business combination; and (11) the ability to recognize the objectives and anticipated benefits of the business combination. Potential investors, shareholders 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. TeraWulf undertakes no obligation to publicly update any forward-looking statement after it is made, whether as a result of new information, future events or otherwise, except as required by law or regulation.
Michel Freitag / Joseph Sala / Lyle Weston
Joelle FrankWilkinson Brimmer Katcher
SOURCE TeraWulf Inc.