TeraWulf Appoints Patrick Fleury as Chief Financial Officer

Dhanisa Mashilfa

Published: May well. 16, 2022 at 11:01 AM HST|Updated: 5 hrs ago

Delivers 22 A long time of Money Working experience in Principal Investing and Advisory Roles to the TeraWulf Group

EASTON, Md., Might 16, 2022 /PRNewswire/ — TeraWulf Inc. (Nasdaq: WULF) (“TeraWulf” or the “Firm”), which owns and operates absolutely built-in, domestic bitcoin mining services run by additional than 90% zero-carbon electrical power, today introduced that Patrick Fleury has been appointed Main Fiscal Officer, powerful nowadays. He provides to TeraWulf 22 several years of finance knowledge, such as 16 several years in principal investing roles and 6 years in advisory roles. Most not too long ago, Mr. Fleury served as a founding member of the credit history crew at Platinum Equity, where he was accountable for community and non-public credit score investments. Right before that he was a Managing Director at Blackstone’s world wide credit history platform, GSO Cash Associates.

“With his important capital markets experience and portfolio management experience, Patrick has the suitable qualifications to provide as CFO of TeraWulf for our future phase of growth,” mentioned Paul Prager, co-founder, Main Govt Officer and Chairman of the Board of TeraWulf. “TeraWulf proceeds to make out its facilities in upstate New York and Pennsylvania, generating appreciable development toward its options for zero-carbon bitcoin mining. We believe we have laid a powerful foundation and I seem ahead to performing with Patrick to supply sustainable value development for our shareholders.”

Mr. Fleury succeeds Kenneth Deane, who will changeover to the job of Chief Accounting Officer and Treasurer, also successful currently, which will contribute to a seamless changeover.

“I am energized to be a part of TeraWulf with so significantly expansion nevertheless ahead for the Firm,” Mr. Fleury stated. “I seem forward to operating closely with Ken, Paul and the overall TeraWulf crew to strengthen the stability sheet and leverage our productive money framework to execute on our infrastructure-to start with strategy and increase shareholder value.”

As aspect of Mr. Fleury’s appointment, the Firm’s Board of Directors permitted, pursuant to Rule 5635(c)(4) of the Nasdaq Inventory Market place Listing Policies, an equity award of 1,000,000 restricted inventory models, 25% of which will vest upon each of the 1st two anniversaries of the grant date and the remaining 50% of which will vest upon the 3rd anniversary of the grant date, issue to Mr. Fleury’s ongoing work or assistance with the Firm via each day.

TeraWulf (Nasdaq: WULF) owns and operates thoroughly built-in environmentally clean bitcoin mining facilities in the United States. Led by an expert team of strength business owners, the Enterprise is acquiring two mining amenities, Lake Mariner Facts in New York, and Nautilus Cryptomine in Pennsylvania, with the goal of 800 megawatts of mining capacity deployed by 2025, enabling above 23 exahash for each second of envisioned hashrate. TeraWulf will create domestically generated bitcoin driven by nuclear, hydro and photo voltaic electrical power with a aim of utilizing 100% zero-carbon vitality. With a core concentrate of ESG that ties straight to its small business success, TeraWulf expects to offer appealing mining economics at an industrial scale.

Ahead-Looking Statements

This push release contains forward-wanting statements within just the meaning of the “harmless harbor” provisions of the Non-public Securities Litigation Reform Act of 1995, as amended. Such forward-hunting statements involve statements concerning predicted long term events and anticipations that are not historic information. All statements, other than statements of historic reality, are statements that could be deemed forward-searching statements. In addition, forward-wanting statements are commonly identified by text such as “program,” “believe that,” “objective,” “goal,” “purpose,” “hope,” “foresee,” “intend,” “outlook,” “estimate,” “forecast,” “task,” “carry on,” “could,” “may,” “might,” “doable,” “prospective,” “predict,” “really should,” “would” and other similar words and expressions, even though the absence of these terms or expressions does not necessarily mean that a assertion is not ahead-wanting. Ahead-hunting statements are based on the current expectations and beliefs of TeraWulf’s management and are inherently issue to a number of things, challenges, uncertainties and assumptions and their prospective outcomes. There can be no assurance that long term developments will be individuals that have been expected. True results may range materially from those people expressed or implied by ahead-on the lookout statements dependent on a variety of components, hazards, uncertainties and assumptions, like, between some others: (1) ailments in the cryptocurrency mining business, such as fluctuation in the industry pricing of bitcoin and other cryptocurrencies, and the economics of cryptocurrency mining, together with as to variables or components impacting the expense, efficiency and profitability of cryptocurrency mining (2) competitiveness between the different vendors of cryptocurrency mining providers (3) changes in relevant legal guidelines, laws and/or permits influencing TeraWulf’s functions or the industries in which it operates, such as regulation relating to ability era, cryptocurrency usage and/or cryptocurrency mining (4) the potential to employ particular business aims and to timely and expense-successfully execute built-in projects (5) failure to obtain ample financing on a well timed foundation and/or on appropriate conditions with regard to development procedures or functions (6) loss of general public self-assurance in bitcoin or other cryptocurrencies and the probable for cryptocurrency marketplace manipulation (7) the prospective of cybercrime, money-laundering, malware infections and phishing and/or decline and interference as a end result of devices malfunction or split-down, bodily catastrophe, info protection breach, computer malfunction or sabotage (and the fees connected with any of the foregoing) (8) the availability, delivery schedule and expense of devices essential to maintain and expand the company and functions of TeraWulf, like mining equipment and infrastructure machines conference the specialized or other requirements needed to reach its growth tactic (9) work workforce factors, which includes the loss of crucial staff members (10) litigation relating to TeraWulf, IKONICS and/or the company combination (11) the potential to realize the expected aims and benefits of the organization combination (12) the well timed transition of the CFO job and (13) and other pitfalls and uncertainties thorough from time to time in the Company’s filings with the Securities and Exchange Fee (“SEC”). Potential investors, stockholders and other viewers are cautioned not to spot undue reliance on these ahead-searching statements, which speak only as of the date on which they were being built. TeraWulf does not suppose any obligation to publicly update any forward-looking statement immediately after it was designed, regardless of whether as a result of new details, potential gatherings or usually, besides as necessary by regulation or regulation. Investors are referred to the whole dialogue of pitfalls and uncertainties affiliated with ahead-looking statements and the dialogue of danger components contained in the Company’s filings with the SEC, which are obtainable at www.sec.gov.

Get hold of:

Investors
Sandy Harrison
[email protected]
(410) 770-9500

Media
Michael Freitag / Joseph Sala / Lyle Weston
Joele Frank, Wilkinson Brimmer Katcher
(212) 355-4449

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Supply TeraWulf Inc.

The higher than push release was presented courtesy of PRNewswire. The sights, thoughts and statements in the push release are not endorsed by Gray Media Group nor do they necessarily point out or reflect individuals of Grey Media Group, Inc.

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