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CBDD CBD of Denver Inc. Announces Annual Disclosure and Filing of Financial Statements
Newsfile Corp.
Newsfile Corp
Denver, Colorado--(Newsfile Corp. - May 2, 2024) - CBD of Denver, Inc. (OTC Pink: CBDD) has filed its financial results for the year ended December 31, 2023. The results highlight significant financial improvements and strategic achievements.
Financial Highlights:
Total Current Assets increased to $117,218 in 2023, up from $28,043 in 2022, marking significant progress in strengthening the company's balance sheet.
Gross Profit for 2023 was $595,417, a significant recovery from a gross loss of $(284,734) in 2022, due to a 27% increase in sales and reduction in Cost of Goods Sold, reflecting improved operational efficiency and product demand.
Net Income Before Provision for Income Tax showed improvement with a loss of $(377,729) in 2023, compared to a loss of $(3,257,710) in 2022. This underscores the company's efforts to enhance operational efficiency and improve cost management. Strategies include adopting a lean approach to minimize fixed expenses to the absolute bare minimum and managing variable expenses prudently, all while aiming to boost top-line growth.
Operational Highlights:
Net Income from Operations showed improvement with a reduced loss in 2023 compared to 2022. These figures represent diligent efforts in operational adjustments and cost management.
Accounts Payable decreased significantly to $297,164 in 2023, down from $961,651 in 2022.
"It is with great pride that I report on the robust financial performance and strategic achievements of CBD of Denver for the year 2023," said Axel Reinke, CEO of CBD of Denver. "The transformation from substantial losses in the previous year reflects the determination and adaptability of our team. We remain dedicated to driving growth, maximizing shareholder value, and spearheading innovation in our industry."
Three notes (Capitoline Ventures II LLC, Goldberg AG, and Pascal Siegenthaler) have been extended for an additional two years. These notes are held by friendly debt holders who have, and the company believes, will continue, to support CBD of Denver Inc.
About CBD of Denver, Inc. (BERLINER INNOVATION)
CBD of Denver, Inc. is focused on acquiring profitable assets at attractive valuations to create value for shareholders. The company's team is dedicated to sourcing high-margin, innovative products that align with its values. The Company is offering a number of innovative consumer products through Libra 9 GmbH, such as the Magic Lappen and the BerlinR13 Anti-Slip solution.
Follow Magic Lappen on Twitter, Instagram, Facebook and TikTok for more information and updates.
Follow The Magic Lappen on Instagram: @themagiclappen
Shop on our website: https://www.the-magic-lappen.com/
Visit the CBDD/ Berliner Innovation: www.berlinerinnovation.de
See our innovative Anti-Slip product: www.berlinr13.de
For questions, please contact us at: investors@libra9.de
About LUXORA Inc.
LUXORA Inc. is a trailblazing entity in the European cannabis industry, with offices spanning the USA and Europe. Our core expertise revolves around unlocking the potential of the legalized cannabis market, offering infrastructure solutions and consulting tailored to the dynamic needs of this rapidly expanding sector. With a profound understanding of the opportunities and challenges brought forth by legalization, our experienced team is dedicated to pioneering the future of the legal cannabis market in Europe. Our offerings range from consulting and market research to product development and distribution solutions, aimed at simplifying the path to legalization for our esteemed clients.
For inquiries, please contact Investor Relations: investors@luxora-holding.com.
For more information, please visit: www.luxora-holding.com.
Follow Us: Twitter | Instagram.
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https://www.otcmarkets.com/stock/CBDD/news/story?e&id=2845858
CBD of Denver Inc. Announces Annual Disclosure and Filing of Financial Statements
Newsfile Corp.
Newsfile Corp
Denver, Colorado--(Newsfile Corp. - May 2, 2024) - CBD of Denver, Inc. (OTC Pink: CBDD) has filed its financial results for the year ended December 31, 2023. The results highlight significant financial improvements and strategic achievements.
Financial Highlights:
Total Current Assets increased to $117,218 in 2023, up from $28,043 in 2022, marking significant progress in strengthening the company's balance sheet.
Gross Profit for 2023 was $595,417, a significant recovery from a gross loss of $(284,734) in 2022, due to a 27% increase in sales and reduction in Cost of Goods Sold, reflecting improved operational efficiency and product demand.
Net Income Before Provision for Income Tax showed improvement with a loss of $(377,729) in 2023, compared to a loss of $(3,257,710) in 2022. This underscores the company's efforts to enhance operational efficiency and improve cost management. Strategies include adopting a lean approach to minimize fixed expenses to the absolute bare minimum and managing variable expenses prudently, all while aiming to boost top-line growth.
Operational Highlights:
Net Income from Operations showed improvement with a reduced loss in 2023 compared to 2022. These figures represent diligent efforts in operational adjustments and cost management.
Accounts Payable decreased significantly to $297,164 in 2023, down from $961,651 in 2022.
"It is with great pride that I report on the robust financial performance and strategic achievements of CBD of Denver for the year 2023," said Axel Reinke, CEO of CBD of Denver. "The transformation from substantial losses in the previous year reflects the determination and adaptability of our team. We remain dedicated to driving growth, maximizing shareholder value, and spearheading innovation in our industry."
Three notes (Capitoline Ventures II LLC, Goldberg AG, and Pascal Siegenthaler) have been extended for an additional two years. These notes are held by friendly debt holders who have, and the company believes, will continue, to support CBD of Denver Inc.
About CBD of Denver, Inc. (BERLINER INNOVATION)
CBD of Denver, Inc. is focused on acquiring profitable assets at attractive valuations to create value for shareholders. The company's team is dedicated to sourcing high-margin, innovative products that align with its values. The Company is offering a number of innovative consumer products through Libra 9 GmbH, such as the Magic Lappen and the BerlinR13 Anti-Slip solution.
Follow Magic Lappen on Twitter, Instagram, Facebook and TikTok for more information and updates.
Follow The Magic Lappen on Instagram: @themagiclappen
Shop on our website: https://www.the-magic-lappen.com/
Visit the CBDD/ Berliner Innovation: www.berlinerinnovation.de
See our innovative Anti-Slip product: www.berlinr13.de
For questions, please contact us at: investors@libra9.de
About LUXORA Inc.
LUXORA Inc. is a trailblazing entity in the European cannabis industry, with offices spanning the USA and Europe. Our core expertise revolves around unlocking the potential of the legalized cannabis market, offering infrastructure solutions and consulting tailored to the dynamic needs of this rapidly expanding sector. With a profound understanding of the opportunities and challenges brought forth by legalization, our experienced team is dedicated to pioneering the future of the legal cannabis market in Europe. Our offerings range from consulting and market research to product development and distribution solutions, aimed at simplifying the path to legalization for our esteemed clients.
For inquiries, please contact Investor Relations: investors@luxora-holding.com.
For more information, please visit: www.luxora-holding.com.
Follow Us: Twitter | Instagram.
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https://www.otcmarkets.com/stock/CBDD/news/story?e&id=2845858
CBDD's Magic Lappen Being Sold on Amazon, Annual Disclosure and Financial Statements FiledPress Release | 04/27/2023
Denver, Colorado--(Newsfile Corp. - April 27, 2023) - CBD of Denver (OTC Pink: CBDD) today announced that it has filed its annual disclosure and financial statements with OTC Markets, after a delay due to OTC Markets completing its procedures related to the change in control related to the acquisition of Libra 9 and the appointment of Axel Reinke as CEO and chairman.
CBDD now has three non-employee directors who are also invested in the Company. This continues to align the Company with its shareholders and investors. The latest filing shows that top line revenue has begun to climb allowing the Company to focus on becoming cash flow positive as quickly as possible.
The Magic Lappen is part of the Company's plan to achieve profitability and as of Friday, April 21, 2023, the Magic Lappen was a "BEST SELLER" in the reusuable cleaning wipes category on Amazon.de. The Company sold 582 pieces after a local Dortmund car enthusiast stopped at the Magic Lappen booth at the Essen Car show and was amazed at how the Magic Lappen made a greasy mirror clean, shining and streak-free. On the video (around the 18:07 minute mark Video Link), he smelled and tasted the water as he could not believe the results could be so perfect with just water.
This was the company's best 24-hour sales effort online to-date.
CBDD will continue to evaluate and explore other venues to expand the exposure for this amazing product that has been embraced by the public. The Company has also signed its largest distribution agreement to date with EDEKA, the largest German supermarket. EDEKA uses cutting-edge technologies to meet the expectation of modern-day shop staff and customers. The distribution agreement covers 1,700 locations. The Company continues discussions with EDEKA on how best to start the roll out of the Magic Lappen. The Company has started producing additional inventory in anticipation of the roll out.
Follow CBDD on LinkedIn and Twitter for more information and updates.
Follow The Magic Lappen on Instagram: @themagiclappen or shop on our website: The Magic Lappen.
Visit the Website of Berlin R 13, the innovative Anti-Slip product: www.berlinr13.de.
Contact Info: info@cbdofdenver.com
About the Magic Lappen
The Magic Lappen provides maximum shine, streak free drying, and only requires water - no chemicals or detergents. The Magic Lappen is also chemical-free and lint-free; cleaning of all smooth and shining surfaces is robust and durable with a leather-like feel. Its innovative structure enables high absorption of dirt, dust, and grease and can be washed many times at 60°. The product is vegan and ecofriendly.
About CBD of Denver, Inc.
CBD of Denver, Inc. is focused on acquiring profitable assets at attractive valuations to create value for shareholders. The company's team is dedicated to sourcing high-margin, innovative products that align with its values.
Information contained herein includes forward-looking statements. These statements relate to future events or future financial performance, involving known and unknown risks and you should not place undue reliance on these statements. Any forward-looking statement reflects our current views with respect to future events. We assume no obligation publicly about update or revise these forward-looking statements for any reason.
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https://www.otcmarkets.com/stock/CBDD/news/CBDDs-Magic-Lappen-Being-Sold-on-Amazon-Annual-Disclosure-and-Financial-Statements-Filed?id=398212
CBD of Denver (CBDD) Provides Updates on Placing the Product into the Hospitality IndustryPress Release | 03/16/2023
Denver, Colorado--(Newsfile Corp. - March 16, 2023) - CBD of Denver (OTC Pink: CBDD) provides an update on its subsidiary, Libra 9, and its innovative product, The Magic Lappen, regarding its efforts to enter the hospitality industry. As a leading full-line distributor of CBD, Cannabis, Hemp oil and nanotechnology products in Switzerland and Europe, the company is committed to expanding its reach and introducing its products to new markets.
The company has made presentations to several prominent hotels in the Berlin area, including the Soho House, Intercontinental, Waldorf Astoria, and H10 Hotels, among others. To date, the company has been successful at all these hotels, with initial orders to test The Magic Lappen.
In addition to these positive developments, one hotel has also scheduled a follow-up appointment for the company's anti-slip product. The company aims to build on this success by showcasing The Magic Lappen at future exhibitions in Europe, with a specific focus on the hospitality industry.
The launch on Amazon is underway, and we are LIVE in Germany, France, Spain, Belgium and Poland. This move will significantly expand the company's customer base, allowing more people to experience the benefits of The Magic Lappen.
We are in discussion with multiple firms to support our efforts in the US market and we will provide an update in the near future.
As a leading player in the industry, CBD of Denver is committed to bringing innovative products to the market and delivering value to its shareholders. The company remains focused on expanding its operations and exploring new markets, with a keen eye on identifying and pursuing acquisition opportunities that create value for its shareholders.
About Libra 9 GmbH, the Anti-Slip and The Magic Lappen:
The Magic Lappen provides maximum shine, streak free drying, and only requires water - no chemicals or detergents. The Magic Lappen is also chemical-free and lint-free; cleaning of all smooth and shining surfaces is robust and durable with a leather-like feel. Its innovative structure enables high absorption of dirt, dust, and grease and can be washed many times at 60°. The product is vegan and ecofriendly.
CBD of Denver, Inc. is focused on acquiring profitable assets at attractive valuations to create value for shareholders. The company's team is dedicated to sourcing high-margin, innovative products that align with its values.
Follow CBDD on LinkedIn and Twitter for more information and updates.
Follow The Magic Lappen on Instagram: @themagiclappen or shop on our website: The Magic Lappen
Visit the Website of Berlin R 13 the innovative Anti-Slip product: www.berlinr13.de.
Contact Info: info@cbdofdenver.com
Information contained herein includes forward-looking statements. These statements relate to future events or future financial performance, involving known and unknown risks and you should not place undue reliance on these statements. Any forward-looking statement reflects our current views with respect to future events. We assume no obligation publicly about update or revise these forward-looking statements for any reason.
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To view the source version of this press release, please visit https://www.newsfilecorp.com/release/158665
https://www.otcmarkets.com/stock/CBDD/news/CBD-of-Denver-CBDD-Provides-Updates-on-Placing-the-Product-into-the-Hospitality-Industry?id=393419
CBD of Denver Inc. (CBDD) Provides Updates on Two Letters of Intent Signed in the CBD Cannabis IndustryPress Release | 03/14/2023
Denver, Colorado--(Newsfile Corp. - March 14, 2023) - CBD of Denver, Inc. (OTC Pink: CBDD), a leading distributor of CBD, Cannabis, Hemp oil, and nanotechnology products in Switzerland and Europe, has announced updates on two Letters of Intent signed in the Health and Wellness CBD Cannabis Industry.
The Company has been in discussions for several months to expand its Health & Wellness business. The first Letter of Intent is to acquire a German-based CBD specialist, which will provide warehousing and logistic services for Germany and expand CBD of Denver Inc's reach throughout Europe. The target company currently distributes its products to 500 German-based stores and gas stations, with plans to expand to 2,000 stores in 2023/2024. CBD of Denver Inc has had a business relationship with the target company since October 2022 and expects to benefit from this acquisition.
The second Letter of Intent is to acquire a wholesale and retail full-service Health and Wellness CBD company located in Switzerland, which will provide exposure throughout Europe. The target company's product range includes vapes, oils, flower, and pet products.
CBD of Denver Inc plans to combine the two target companies with its existing wholesale business and spin them off into one publicly traded entity. CBD of Denver Inc is actively seeking new acquisition candidates, with a focus on acquiring profitable assets at attractive valuations to create value for shareholders.
The European CBD market is estimated to be worth around $2 billion, with Germany being the largest country, accounting for $1 billion or 50% of the market. Since Germany legalized medical cannabis in 2017, it has seen steady growth in patient numbers. The coalition government plans to legalize adult-use cannabis by the end of the year, and CBD of Denver Inc intends to take advantage of this opportunity.
After the acquisitions are complete, CBDD plans to combine the two target companies with CBD existing wholesale business to build a profitable independent CBD/Health and Wellness company that will benefit from the growth of this industry. The Company will then spin off this asset into its own public company, complete with its symbol and ISIN number, to all shareholders of record of CBD of Denver Inc.
CBD of Denver Inc Board Director Robert Roever stated: "We still see the CBD/Cannabis and Health and Wellness market improving after a rough couple of years and feel this is the right time to reengage the market. Axel Reinke will remain CEO of Libra 9 and his other nanotechnology companies to be renamed Berliner Innovation in the new future. The new CBD company will be spun off with separate management."
CBDD is actively seeking new acquisition candidates, with a focus on acquiring profitable Cannabis assets at attractive valuations to create value for shareholders. For more information and updates, follow CBD of Denver Inc, The Magic Lappen, and Libra 9 on social media or contact info@cbdofdenver.com.
About Libra 9 GmbH and The Magic Lappen:
The Magic Lappen provides maximum shine, streak free drying, and only requires water - no chemicals or detergents. The Magic Lappen is also chemical-free and lint-free; cleaning of all smooth and shining surfaces is robust and durable with a leather-like feel. Its innovative structure enables high absorption of dirt, dust, and grease and can be washed many times at 60°. The product is vegan and ecofriendly.
CBD of Denver, Inc. is focused on acquiring profitable assets at attractive valuations to create value for shareholders. The company's team is dedicated to sourcing high-margin, innovative products that align with its values.
Follow CBDD on LinkedIn and Twitter for more information and updates.
Follow The Magic Lappen on Instagram: @themagiclappen or shop on our website: The Magic Lappen
Contact Info: info@cbdofdenver.com
Information contained herein includes forward-looking statements. These statements relate to future events or future financial performance, involving known and unknown risks and you should not place undue reliance on these statements. Any forward-looking statement reflects our current views with respect to future events. We assume no obligation publicly about update or revise these forward-looking statements for any reason.
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To view the source version of this press release, please visit https://www.newsfilecorp.com/release/158383
https://www.otcmarkets.com/stock/CBDD/news/CBD-of-Denver-Inc-CBDD-Provides-Updates-on-Two-Letters-of-Intent-Signed-in-the-CBD-Cannabis-Industry?id=393075
CBD of Denver Inc. Reports January Revenue, Progress on Legislation in Germany and Business Highlights
Newsfile Corp.
Newsfile Corp
Denver, Colorado--(Newsfile Corp. - February 12, 2024) - CBD of Denver, Inc. (OTC Pink: CBDD), today announced revenue for January 2024 was approximately $350,000.00 USD, with Libra 9 GmbH generating approximately $50,000.00 USD in revenue and Luxora generating approximately $300,000.00 USD.
Last week, the leaders of Germany's coalition government publicly announced that they reached a final agreement on a bill to legalize cannabis, setting the stage for a vote in the final week of February with enactment expected in April. "We are very pleased about this announcement as it gives us clarity as we push forward with Luxora Solutions initiatives for the German market," stated Jan Schwager, CEO of Luxora.
Luxora Solutions will lease fully equipped production units to the coming Cannabis Clubs in Germany and provide a range of paid consulting services regarding cultivation, legal and compliance aspects to the clubs. Cannabis Clubs will be permitted to onboard up to 500 members who will be allowed to receive up to 50g of cannabis per month from their club, bringing the maximum monthly amount that one club can supply to its members to 25kg. Luxora Solutions production units will be laid out to produce up to 25kg of dried cannabis flower per 8-10 week harvest cycle. Each unit can be leased at a price of 25,000.00€ plus consumables per month. Depending on the size of the clubs it will take up to three production units per club to fulfill the required monthly amount of cannabis.
"With an estimated 1.48 million frequent cannabis users (1) in Germany and based on our discussion with prospective cannabis club founders throughout the last year we see a strong demand for the emerging Club model in Germany. Our goal is to establish Luxora as a trusted and reliable partner, ensuring that clubs who will be signing up with us will be able to supply product of the highest quality on par with recreational markets in the US and Canada" said Stefan Röhrl, Luxoras Chief Strategy officer. More information regarding Luxora solutions and its offering for cannabis clubs can be found on the newly created website https://www.luxora-solutions.de/en
Also under the new legislation, for the first time in close to a hundred years Germans will be allowed to grow Cannabis at home again. Based on 5.3 million cannabis users (2) in Germany and at three plants per person this change will open a new market for cannabis seeds and clones. "We`re excited to explore what new possibilities this will bring for HolistiCH with its unique catalogue of top tier genetics," states Justin Cassels Chief Production Officer at Luxora.
The Magic Lappen had a strong start to the new year as Libra 9 finalized a central listing agreement with EDEKA Germany. "This new listing makes the Magic Lappen available to more than 11,000 stores belonging to the EDEKA group in Germany. EDEKA will start promoting the Magic Lappen on its internal sales platform. We see this as a result of our continued partnership with EDEKA," states Axel Reinke, CEO of CBD of Denver. EDEKA has ordered an additional 900 units for a special spring-cleaning promotion in its stores.
Last Thursday, the Magic Lappen made its first appearance on live television, with Axel Reinke presenting the product during two one-hour slots on Channel 21. The Lappen was offered in a three-piece set, with more than 700 sets, totaling over 2,100 units, sold during the two broadcasts. "Channel 21 offers us the perfect platform to showcase the multitude of advantages that the Magic Lappen has to offer to a wide audience and to really let the product shine," emphasizes Mr. Reinke. The live sessions were recorded and will continue to be aired on TV in the coming weeks. The recording can be found at the following link: https://www.channel21.de/mediathek/showvideo/1800Channel20240208
Current updates:
We previously filed our notice of corporate action for our name change with the Financial Industry Regulatory Authority (Finra) and the company is working with Finra to finalize the process. We have responded to Finra's initial questions and comments, and company counsel is regularly in contact with Finra to move the process along.
About CBD of Denver, Inc. (BERLINER INNOVATION)
CBD of Denver, Inc. is focused on acquiring profitable assets at attractive valuations to create value for shareholders. The company's team is dedicated to sourcing high-margin, innovative products that align with its values. The Company is offering a number of innovative consumer products through Libra 9 GmbH, such as the Magic Lappen and the BerlinR13 Anti-Slip solution.
Follow Magic Lappen on Twitter, Instagram, Facebook and TikTok for more information and updates.
Follow The Magic Lappen on Instagram: @themagiclappen
Shop on our website: https://www.the-magic-lappen.com/
Visit the CBDD/ Berliner Innovation: www.berlinerinnovation.de
See our innovative Anti-Slip product: www.berlinr13.de
For questions, please contact us at: investors@libra9.de
About LUXORA Inc.
LUXORA Inc. is a trailblazing entity in the European cannabis industry, with offices spanning the USA and Europe. Our core expertise revolves around unlocking the potential of the legalized cannabis market, offering infrastructure solutions and consulting tailored to the dynamic needs of this rapidly expanding sector. With a profound understanding of the opportunities and challenges brought forth by legalization, our experienced team is dedicated to pioneering the future of the legal cannabis market in Europe. Our offerings range from consulting and market research to product development and distribution solutions, aimed at simplifying the path to legalization for our esteemed clients.
For inquiries, please contact Investor Relations: investors@luxora-holding.com
For more information, please visit: www.luxora-holding.com
Follow Us: Twitter | Instagram.
(1) DICE Study https://www.dice.hhu.de/fileadmin/redaktion/Fakultaeten/Wirtschaftswissenschaftliche_Fakultaet/DICE/Bilder/Nachrichten_und_Meldungen/Fiskalische_Effekte_Cannabislegalisierung_final.pdf
(2) The global Cannabis report, growth and trends through 20205, New Frontier data https://newfrontierdata.com/global-cannabis/#:~:text=Cannabis%20consumers%20globally%20spent%20an,in%20illicit%20or%20unregulated%20markets
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Added 4mill 2's!!!! No brainer!!! and buyin more! I just got done scoopin up all the 2's
Holding 6 May 24th 180 calls here, options are cheap, price at support and turning higher, and weekly bullish stochastics divergence says big price spike coming after earnings tonight! Up $10 after hours is my call!
Welcome! We always welcome new comers!
Suckers! This is in grace period and will be going to EM, that's why it can't hold above .01
No, Charts told me to bail at 132, this one's going nighty night!!!
Another pot stock seeing heavy Volume!!!
Yup! Nice volume, but I only have 1.5mill 5's here
Wasn't it nice to see .005 support hold yesterday?
75 target for today imo
But how many ticks are we up 'since' 5/2/24??? Lol!
67's up!!!
Yep! These guys are on it! And will be releasing PR's to fuel this rally! Feed your rally! Feed it!!!
Amended Annual Report Out!
https://www.otcmarkets.com/otcapi/company/financial-report/400682/content
WULF TeraWulf Announces April 2024 Production and Operations Update
8.0 EH/s of installed and operational self-mining capacity
Mining fleet achieved a Company record of 98% utilization
Building 4 (35 MW) at Lake Mariner nearing final construction, providing path to 10.0 EH/s by mid-2024
EASTON, Md., May 02, 2024 (GLOBE NEWSWIRE) -- TeraWulf Inc. (Nasdaq: WULF) (“TeraWulf” or the “Company”), owners and operators of vertically integrated, domestic bitcoin mining facilities powered by 95% zero-carbon energy, today provided an unaudited monthly production and operations update for April 2024.
April 2024 Production and Operations Highlights
Self-mined 348 bitcoin in April with an average production rate of 11.6 bitcoin per day.
Power cost averaged $16,058 per bitcoin self-mined, or approximately $0.038/kWh in April, which excludes the benefit of expected demand response or ancillary services proceeds.
Remaining older generation miners at Lake Mariner were replaced with approximately 3,000 S19k Pro miners in April bringing Lake Mariner’s total S19k Pro miner count to approximately 4,100.
Key Metrics 1 April 2024 March 2024
Bitcoin Self-Mined Lake Mariner 269 290
Bitcoin Self-Mined Nautilus2 79 89
Value per Bitcoin Self-Mined 3 $66,245 $67,354
Power Cost per Bitcoin Self-Mined $16,058 $13,798
Avg. Operating Hash Rate (EH/s) 4 7.8 7.6
Management Commentary
“During April, the Company mined 348 bitcoin or 11.6 BTC per day, a 5.0% decrease from March’s rate of bitcoin production. Bitcoin mined in April before the halving, which took place on April 19th, was 236 bitcoin or 68% of April’s total bitcoin production. A spike in transaction fees made up for most of the lost block subsidy in the week following the halving. We saw transaction fees fall to typical levels towards the end of April” said Sean Farrell, SVP of Operations at TeraWulf.
“Lake Mariner completed installation of the remaining Bitmain S19K Pro miners to increase fleet efficiency and improve performance. Elsewhere at Lake Mariner, construction on building 4 continues to progress on schedule with the completion of framing work on the building” continued Farrell.
Production and Operations Update
Operational infrastructure capacity at the Lake Mariner facility was 160 MW plus 50 MW at Nautilus with TeraWulf’s total self-mining hash rate at 8.0 EH/s. On average our miners operated at 98% of installed nameplate capacity.
Construction of Building 4 (35 MW) at the Lake Mariner facility remains on track to be completed by mid-2024, which is expected to further increase TeraWulf’s total operational capacity to approximately 10.0 EH/s.
As previously announced, the Company is finalizing the design for a large-scale, high-performance computing (HPC) / AI project at the Lake Mariner site and has committed an initial 2 MW block of power, capable of deploying thousands of the latest generation graphics processing units (GPUs). Lake Mariner has upgraded its internet interconnection to align with bandwidth requirements of AI, designed closed loop liquid cooling, and power supply for 100% redundancy in support of the project.
About TeraWulf
TeraWulf owns and operates vertically integrated, environmentally clean bitcoin mining facilities in the United States. Led by an experienced group of energy entrepreneurs, the Company currently has two Bitcoin mining facilities: the wholly owned Lake Mariner facility in New York, and Nautilus Cryptomine facility in Pennsylvania, a joint venture with Cumulus Coin, LLC. TeraWulf generates domestically produced Bitcoin powered by 95% zero carbon energy resources including nuclear, hydro, and solar with a goal of utilizing 100% zero-carbon energy. With a core focus on ESG that ties directly to its business success, TeraWulf expects to provide industry leading mining economics at an industrial scale.
Forward-Looking Statements
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. Such forward-looking statements include statements concerning anticipated future events and expectations that are not historical facts. All statements, other than statements of historical fact, are statements that could be deemed forward-looking statements. In addition, forward-looking statements are typically identified by words such as “plan,” “believe,” “goal,” “target,” “aim,” “expect,” “anticipate,” “intend,” “outlook,” “estimate,” “forecast,” “project,” “continue,” “could,” “may,” “might,” “possible,” “potential,” “predict,” “should,” “would” and other similar words and expressions, although the absence of these words or expressions 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 that have been anticipated. Actual results may vary materially from those expressed or implied by forward-looking statements based on a number of factors, risks, uncertainties and assumptions, including, among others: (1) conditions in the cryptocurrency mining industry, including fluctuation in the market pricing of bitcoin and other cryptocurrencies, and the economics of cryptocurrency mining, including as to variables or factors affecting the cost, efficiency and profitability of cryptocurrency mining; (2) competition among the various providers of cryptocurrency mining services; (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, cryptocurrency usage and/or cryptocurrency mining, and/or regulation regarding safety, health, environmental and other matters, which could require significant expenditures; (4) the ability to implement certain business objectives and to timely and cost-effectively execute integrated projects; (5) failure to obtain adequate financing on a timely basis and/or on acceptable terms with regard to growth strategies or operations; (6) loss of public confidence in bitcoin or other cryptocurrencies and the potential for cryptocurrency market manipulation; (7) adverse geopolitical or economic conditions, including a high inflationary environment; (8) the potential of cybercrime, money-laundering, malware infections and phishing and/or loss and interference as a result of equipment malfunction or break-down, physical disaster, data security breach, computer malfunction or sabotage (and the costs associated with any of the foregoing); (9) the availability, delivery schedule and cost of equipment necessary to maintain and grow the business and operations of TeraWulf, including mining equipment and infrastructure equipment meeting the technical or other specifications required to achieve its growth strategy; (10) employment workforce factors, including the loss of key employees; (11) litigation relating to TeraWulf and/or its business; and (12) other risks and uncertainties detailed from time to time in the Company’s filings with the Securities and Exchange Commission (“SEC”). Potential investors, stockholders 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 does not assume any obligation to publicly update any forward-looking statement after it was made, whether as a result of new information, future events or otherwise, except as required by law or regulation. Investors are referred to the full discussion of risks and uncertainties associated with forward-looking statements and the discussion of risk factors contained in the Company’s filings with the SEC, which are available at www.sec.gov.
Company Contact:
Jason Assad
Director of Corporate Communications
assad@terawulf.com
(678) 570-6791
1 The Company’s share of the earnings or losses from operations at the Nautilus Cryptomine facility is reflected within “Equity in net income (loss) of investee, net of tax” in the consolidated statements of operations. Accordingly, operating results of the Nautilus Cryptomine facility are not reflected in revenue, cost of revenue or cost of operations lines in TeraWulf’s consolidated statements of operations. The Company uses these metrics as indictors of operational progress and effectiveness and believes they are useful to investors for the same purposes and to provide comparisons to peer companies. All figures except Bitcoin Self-Mined are estimates and remain subject to standard month-end adjustments.
2 Includes TeraWulf’s net share of bitcoin mined at the Nautilus Cryptomine facility, based on hash rate share attributed to the Company.
3 Computed as the weighted-average opening price of bitcoin on each respective day the Bitcoin Self-Mined is earned.
4 While nameplate inventory as of April 30, 2024 for WULF’s two facilities is estimated at 8.0 EH/s, actual monthly hash rate performance depends on a variety of factors, including (but not limited to) performance tuning to increase efficiency and maximize margin, scheduled outages (scopes to improve reliability or performance), unscheduled outages, curtailment due to participation in various cash generating demand response programs, derate of ASICS due to adverse weather and ASIC maintenance and repair.
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Source: Terawulf Inc.
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TeraWulf Announces April 2024 Production and Operations Update
8.0 EH/s of installed and operational self-mining capacity
Mining fleet achieved a Company record of 98% utilization
Building 4 (35 MW) at Lake Mariner nearing final construction, providing path to 10.0 EH/s by mid-2024
EASTON, Md., May 02, 2024 (GLOBE NEWSWIRE) -- TeraWulf Inc. (Nasdaq: WULF) (“TeraWulf” or the “Company”), owners and operators of vertically integrated, domestic bitcoin mining facilities powered by 95% zero-carbon energy, today provided an unaudited monthly production and operations update for April 2024.
April 2024 Production and Operations Highlights
Self-mined 348 bitcoin in April with an average production rate of 11.6 bitcoin per day.
Power cost averaged $16,058 per bitcoin self-mined, or approximately $0.038/kWh in April, which excludes the benefit of expected demand response or ancillary services proceeds.
Remaining older generation miners at Lake Mariner were replaced with approximately 3,000 S19k Pro miners in April bringing Lake Mariner’s total S19k Pro miner count to approximately 4,100.
Key Metrics 1 April 2024 March 2024
Bitcoin Self-Mined Lake Mariner 269 290
Bitcoin Self-Mined Nautilus2 79 89
Value per Bitcoin Self-Mined 3 $66,245 $67,354
Power Cost per Bitcoin Self-Mined $16,058 $13,798
Avg. Operating Hash Rate (EH/s) 4 7.8 7.6
Management Commentary
“During April, the Company mined 348 bitcoin or 11.6 BTC per day, a 5.0% decrease from March’s rate of bitcoin production. Bitcoin mined in April before the halving, which took place on April 19th, was 236 bitcoin or 68% of April’s total bitcoin production. A spike in transaction fees made up for most of the lost block subsidy in the week following the halving. We saw transaction fees fall to typical levels towards the end of April” said Sean Farrell, SVP of Operations at TeraWulf.
“Lake Mariner completed installation of the remaining Bitmain S19K Pro miners to increase fleet efficiency and improve performance. Elsewhere at Lake Mariner, construction on building 4 continues to progress on schedule with the completion of framing work on the building” continued Farrell.
Production and Operations Update
Operational infrastructure capacity at the Lake Mariner facility was 160 MW plus 50 MW at Nautilus with TeraWulf’s total self-mining hash rate at 8.0 EH/s. On average our miners operated at 98% of installed nameplate capacity.
Construction of Building 4 (35 MW) at the Lake Mariner facility remains on track to be completed by mid-2024, which is expected to further increase TeraWulf’s total operational capacity to approximately 10.0 EH/s.
As previously announced, the Company is finalizing the design for a large-scale, high-performance computing (HPC) / AI project at the Lake Mariner site and has committed an initial 2 MW block of power, capable of deploying thousands of the latest generation graphics processing units (GPUs). Lake Mariner has upgraded its internet interconnection to align with bandwidth requirements of AI, designed closed loop liquid cooling, and power supply for 100% redundancy in support of the project.
About TeraWulf
TeraWulf owns and operates vertically integrated, environmentally clean bitcoin mining facilities in the United States. Led by an experienced group of energy entrepreneurs, the Company currently has two Bitcoin mining facilities: the wholly owned Lake Mariner facility in New York, and Nautilus Cryptomine facility in Pennsylvania, a joint venture with Cumulus Coin, LLC. TeraWulf generates domestically produced Bitcoin powered by 95% zero carbon energy resources including nuclear, hydro, and solar with a goal of utilizing 100% zero-carbon energy. With a core focus on ESG that ties directly to its business success, TeraWulf expects to provide industry leading mining economics at an industrial scale.
Forward-Looking Statements
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. Such forward-looking statements include statements concerning anticipated future events and expectations that are not historical facts. All statements, other than statements of historical fact, are statements that could be deemed forward-looking statements. In addition, forward-looking statements are typically identified by words such as “plan,” “believe,” “goal,” “target,” “aim,” “expect,” “anticipate,” “intend,” “outlook,” “estimate,” “forecast,” “project,” “continue,” “could,” “may,” “might,” “possible,” “potential,” “predict,” “should,” “would” and other similar words and expressions, although the absence of these words or expressions 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 that have been anticipated. Actual results may vary materially from those expressed or implied by forward-looking statements based on a number of factors, risks, uncertainties and assumptions, including, among others: (1) conditions in the cryptocurrency mining industry, including fluctuation in the market pricing of bitcoin and other cryptocurrencies, and the economics of cryptocurrency mining, including as to variables or factors affecting the cost, efficiency and profitability of cryptocurrency mining; (2) competition among the various providers of cryptocurrency mining services; (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, cryptocurrency usage and/or cryptocurrency mining, and/or regulation regarding safety, health, environmental and other matters, which could require significant expenditures; (4) the ability to implement certain business objectives and to timely and cost-effectively execute integrated projects; (5) failure to obtain adequate financing on a timely basis and/or on acceptable terms with regard to growth strategies or operations; (6) loss of public confidence in bitcoin or other cryptocurrencies and the potential for cryptocurrency market manipulation; (7) adverse geopolitical or economic conditions, including a high inflationary environment; (8) the potential of cybercrime, money-laundering, malware infections and phishing and/or loss and interference as a result of equipment malfunction or break-down, physical disaster, data security breach, computer malfunction or sabotage (and the costs associated with any of the foregoing); (9) the availability, delivery schedule and cost of equipment necessary to maintain and grow the business and operations of TeraWulf, including mining equipment and infrastructure equipment meeting the technical or other specifications required to achieve its growth strategy; (10) employment workforce factors, including the loss of key employees; (11) litigation relating to TeraWulf and/or its business; and (12) other risks and uncertainties detailed from time to time in the Company’s filings with the Securities and Exchange Commission (“SEC”). Potential investors, stockholders 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 does not assume any obligation to publicly update any forward-looking statement after it was made, whether as a result of new information, future events or otherwise, except as required by law or regulation. Investors are referred to the full discussion of risks and uncertainties associated with forward-looking statements and the discussion of risk factors contained in the Company’s filings with the SEC, which are available at www.sec.gov.
Company Contact:
Jason Assad
Director of Corporate Communications
assad@terawulf.com
(678) 570-6791
1 The Company’s share of the earnings or losses from operations at the Nautilus Cryptomine facility is reflected within “Equity in net income (loss) of investee, net of tax” in the consolidated statements of operations. Accordingly, operating results of the Nautilus Cryptomine facility are not reflected in revenue, cost of revenue or cost of operations lines in TeraWulf’s consolidated statements of operations. The Company uses these metrics as indictors of operational progress and effectiveness and believes they are useful to investors for the same purposes and to provide comparisons to peer companies. All figures except Bitcoin Self-Mined are estimates and remain subject to standard month-end adjustments.
2 Includes TeraWulf’s net share of bitcoin mined at the Nautilus Cryptomine facility, based on hash rate share attributed to the Company.
3 Computed as the weighted-average opening price of bitcoin on each respective day the Bitcoin Self-Mined is earned.
4 While nameplate inventory as of April 30, 2024 for WULF’s two facilities is estimated at 8.0 EH/s, actual monthly hash rate performance depends on a variety of factors, including (but not limited to) performance tuning to increase efficiency and maximize margin, scheduled outages (scopes to improve reliability or performance), unscheduled outages, curtailment due to participation in various cash generating demand response programs, derate of ASICS due to adverse weather and ASIC maintenance and repair.
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Source: Terawulf Inc.
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TeraWulf Announces Preliminary Full Year 2023 Financial Highlights and Provides 2024 Guidance
Reports Strong Financial Performance, Reiterates Plan for Organic Growth and Continued Debt Reduction in 2024
Forecasts Industry-Leading Bitcoin Mining Unit Economics for 2024
Targets 300 MW of Infrastructure Capacity in Operation by Year-End 2024 and 550 MW in 2025
EASTON, Md., March 06, 2024 (GLOBE NEWSWIRE) -- TeraWulf Inc. (Nasdaq: WULF) (“TeraWulf” or the “Company”), owners and operators of vertically integrated, domestic bitcoin mining facilities powered by more than 95% zero-carbon energy, today announced preliminary unaudited financial highlights for the fiscal year 2023 alongside projected financial metrics for 2024.
TeraWulf plans to release financial results for the fourth quarter and full year 2023 on or about Tuesday, March 19, 2024. The unaudited results in this press release are preliminary and subject to the completion of accounting and annual audit procedures and are therefore subject to adjustment.
Preliminary FY 2023 Financial Highlights (Unaudited)
The Company expects the following preliminary and unaudited financial results for fiscal 2023:
Revenue is expected to be approximately $69.0 million, compared to $15.0 million in fiscal 2022.
Gross profit is expected to be approximately $41.0 million, compared to $4.0 million in fiscal 2022.
Non-GAAP Adjusted EBITDA is expected to be approximately $30.0 million, compared to $(34.2) million in fiscal 2022.
Cash and cash equivalents as of fiscal year-end 2023 is expected to be approximately $54.0 million, compared to $1.3 million at fiscal year-end 2022.
Net debt at fiscal year-end is expected to be approximately $85.0 million, compared to $144.7 million at fiscal year-end 2022.
Additional Non-GAAP metrics for fiscal year 2023, which include the financial impact of TeraWulf’s joint venture interest in the Nautilus Cryptomine facility1, include the following:
Self-mined 3,407 bitcoin in 2023, comprised of 2,168 bitcoin at the Lake Mariner facility and 1,239 bitcoin at the Nautilus Cryptomine facility.
Power cost averaged $8,676 per bitcoin self-mined, or approximately $0.032/kWh in 2023.
Key Non-GAAP Metrics FY 2023
Bitcoin Self-Mined – Lake Mariner 2 2,168
Bitcoin Self-Mined – Nautilus 1,239
Value per Bitcoin Self-Mined 3 $ 29,645
Power Cost per Bitcoin Self-Mined 4 $ 8,676
Avg. Operating Hash Rate (EH/s) 5 4.1
Management Commentary
"In 2023, we achieved significant milestones by initiating and delivering rapid organic growth at our existing sites, prioritizing debt repayment, and fortifying liquidity. We look forward to sharing comprehensive details of our fourth quarter and full-year 2023 results, as well as our outlook for 2024, later this month," said Paul Prager, Chief Executive Officer of TeraWulf.
“The critical significance of infrastructure scalability at our current sites cannot be overstated. It's the backbone of our strategy, providing stability, control, and substantial long-term cost advantages. This strategic asset empowers us to optimize efficiency, scale operations opportunistically, and ultimately drive profitability. As we continue to invest in and expand our infrastructure, I firmly believe we're cementing our position as a leader in the industry,” added Prager.
Patrick Fleury, Chief Financial Officer, emphasized, "Our proactive debt reduction, dedication to financial transparency, and rapid, organic infrastructure growth coupled with our leading unit economics underscores the Company’s commitment to lead in this space – now and beyond the halving.”
2024 Financial Guidance
TeraWulf's 2024 outlook reflects the Company's commitment to achieving industry-leading unit economics, proactively reducing debt, and strategically investing in organic growth to further expand digital infrastructure capacity at its existing sites.
Any guidance that we provide is subject to change as a variety of factors can affect actual operating results. Certain factors that may impact our actual operating results are identified below in the safe harbor language included within Forward-Looking Statements of this press release.
Profitability
The Company estimates that its total production cost, or cost-to-mine a bitcoin, ranks among the lowest among publicly listed bitcoin mining companies at approximately $25,000 per BTC pre-halving and assuming the illustrative market inputs outlined in the table below. Post the upcoming halving, which is projected to occur in April 2024, TeraWulf’s estimated production cost per BTC is expected to be approximately $37,000.
The following financial guidance reflects the Company’s expectations for the fiscal year 2024 and is provided on a non-GAAP basis.
2024 Pre-Halving 2024 Post-Halving 6 Total 2024
Illustrative Market Inputs:
Network Hash Rate (EH/s) 575 520
Transaction Fees (%) 5.0 % 10.0 %
Illustrative Operating Inputs:
Miner Fleet Efficiency (J/TH) 7 25.4 24.3
Total Hash Rate (EH/s) 8.0 10.0
Total Bitcoin Mined 8 1,348 2,292 3,640
$ in 000’s $/BTC $ in 000’s $/BTC $ in 000’s
Power Cost (@ $0.035/kWh) 9 $ 17,800 $ 13,205 $ 49,600 $ 21,640 $ 67,000
SG&A for the Period 8,300 6,157 19,200 8,377 27,500
Other OpEx for the Period 4,100 3,042 9,400 4,101 13,500
Interest Expense for the Period10 3,700 2,745 6,500 2,836 10,200
Total Cost $ 33,900 $ 25,149 $ 84,300 $ 36,780 $ 118,200
Organic Growth
As previously announced, operational capacity at the Lake Mariner facility has now reached 160 MW, accompanied by a hash rate of 8.0 EH/s entering March. Construction of Building 4 at the Lake Mariner facility is proceeding as planned, substantially funded, and is on track for completion by mid-2024. This additional infrastructure is anticipated to add an incremental 35 MW of capacity, thereby increasing TeraWulf’s operational mining capacity to approximately 10 EH/s.
With significant room for expansion at its existing sites, the Company reiterates its commitment to achieving 300 MW of infrastructure capacity in operation by the close of 2024, and reaching 550 MW, or approximately 28.3 EH/s with current generation of miners, of deployed infrastructure in 2025. The Company continues to evaluate the highest return use for its energy infrastructure, including the potential application of HPC/AI.
Debt Repayment and Liquidity
Following significant debt repayments totaling $21.4 million related to 2023 quarterly excess cash flow sweep payments and an $18.6 million voluntary prepayment in February 2024, TeraWulf's total debt balance was approximately $106.0 million as of the end of February. The Company anticipates an additional repayment of approximately $30.0 million during the first week of April, thereby reducing the debt balance to $76.0 million.
After the expected April debt repayment, and based on current bitcoin price levels, the Company anticipates having approximately $20.0 million in excess liquidity to navigate the upcoming halving. This projected cash reserve can be allocated towards additional debt reduction, potentially lowering the debt balance to $56.0 million, excluding any excess cash flow sweep payments for in Q2-Q4 2024.
Key Preliminary, Unaudited GAAP Metrics ($ in 000’s) February 29, 2024 December 31, 2023
Term Loan Balance $ 106,000 $ 139,000
Cash $ 48,000 $ 54,000
Bitcoin $ 1,100 $ 1,800
Net Debt 11 $ 58,000 $ 85,000
Common Shares Outstanding 298,589,910 276,733,329
Note About Preliminary Unaudited Financial Highlights
The preliminary financial results presented above are the responsibility of management and have been prepared in good faith on a consistent basis with prior periods. However, we have not completed our financial closing procedures for the three months and year ended December 31, 2023, and our actual results could be materially different from these preliminary financial results. In addition, RSM US LLP, our independent registered public accounting firm, has not audited, reviewed, compiled, or performed any procedures with respect to these preliminary financial results and does not express an opinion or any other form of assurance with respect to these preliminary financial results or their achievability. During the course of the preparation of our consolidated financial statements and related notes as of and for the year ended December 31, 2023, we may identify items that would require us to make material adjustments to the preliminary financial results presented above. As a result, prospective investors should exercise caution in relying on this information and should not draw any inferences from this information regarding financial or operating data not provided. These preliminary financial results should not be viewed as a substitute for full financial statements prepared in accordance with U.S. GAAP. In addition, these preliminary financial results are not necessarily indicative of the results to be achieved in any future period. For a discussion of the limitations of non-GAAP financial measures and the rationales for using non-GAAP financial measures, please reference the “Non-GAAP Measure” section in Management’s Discussion and Analysis of Financial Condition and Results of Operations in our September 30, 2023 10Q filing with the SEC.
We have not provided reconciliations of preliminary and projected Adjusted EBITDA to the most comparable GAAP measure of net income/(loss) to common shareholders. Providing net income/(loss) to common shareholders guidance is potentially misleading and not practical given the difficulty of projecting event-driven transactional and other non-core operating items that are included in net income/(loss) to common shareholders, including but not limited to asset impairments and income tax valuation adjustments. Reconciliations of this non-GAAP measure with the most comparable GAAP measure for historical periods is indicative of the reconciliations that will be prepared upon completion of the periods covered by the non-GAAP guidance. Please reference the “Non-GAAP financial information” accompanying our quarterly earnings conference call presentations on our website at www.terawulf.com/investors for our GAAP results and the reconciliations of these measures, where used, to the comparable GAAP measures.
About TeraWulf
TeraWulf owns and operates vertically integrated, environmentally clean bitcoin mining facilities in the United States. Led by an experienced group of energy entrepreneurs, the Company currently has two Bitcoin mining facilities: the wholly owned Lake Mariner facility in New York, and Nautilus Cryptomine facility in Pennsylvania, a joint venture with Cumulus Coin, LLC. TeraWulf generates domestically produced Bitcoin powered by 95% zero carbon energy resources including nuclear, hydro, and solar with a goal of utilizing 100% zero-carbon energy. With a core focus on ESG that ties directly to its business success, TeraWulf expects to provide industry leading mining economics at an industrial scale.
Forward-Looking Statements
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. Such forward-looking statements include statements concerning anticipated future events and expectations that are not historical facts. All statements, other than statements of historical fact, are statements that could be deemed forward-looking statements. In addition, forward-looking statements are typically identified by words such as “plan,” “believe,” “goal,” “target,” “aim,” “expect,” “anticipate,” “intend,” “outlook,” “estimate,” “forecast,” “project,” “continue,” “could,” “may,” “might,” “possible,” “potential,” “predict,” “should,” “would” and other similar words and expressions, although the absence of these words or expressions 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 that have been anticipated. Actual results may vary materially from those expressed or implied by forward-looking statements based on a number of factors, risks, uncertainties and assumptions, including, among others: (1) conditions in the cryptocurrency mining industry, including fluctuation in the market pricing of bitcoin and other cryptocurrencies, and the economics of cryptocurrency mining, including as to variables or factors affecting the cost, efficiency and profitability of cryptocurrency mining; (2) competition among the various providers of cryptocurrency mining services; (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, cryptocurrency usage and/or cryptocurrency mining, and/or regulation regarding safety, health, environmental and other matters, which could require significant expenditures; (4) the ability to implement certain business objectives and to timely and cost-effectively execute integrated projects; (5) failure to obtain adequate financing on a timely basis and/or on acceptable terms with regard to growth strategies or operations; (6) loss of public confidence in bitcoin or other cryptocurrencies and the potential for cryptocurrency market manipulation; (7) adverse geopolitical or economic conditions, including a high inflationary environment; (8) the potential of cybercrime, money-laundering, malware infections and phishing and/or loss and interference as a result of equipment malfunction or break-down, physical disaster, data security breach, computer malfunction or sabotage (and the costs associated with any of the foregoing); (9) the availability, delivery schedule and cost of equipment necessary to maintain and grow the business and operations of TeraWulf, including mining equipment and infrastructure equipment meeting the technical or other specifications required to achieve its growth strategy; (10) employment workforce factors, including the loss of key employees; (11) litigation relating to TeraWulf, RM 101 f/k/a IKONICS Corporation and/or the business combination; and (12) other risks and uncertainties detailed from time to time in the Company’s filings with the Securities and Exchange Commission (“SEC”). Potential investors, stockholders 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 does not assume any obligation to publicly update any forward-looking statement after it was made, whether as a result of new information, future events or otherwise, except as required by law or regulation. Investors are referred to the full discussion of risks and uncertainties associated with forward-looking statements and the discussion of risk factors contained in the Company’s filings with the SEC, which are available at www.sec.gov.
Company Contact:
Jason Assad
Director of Corporate Communications
assad@terawulf.com
(678) 570-6791
1 The Company’s share of the earnings or losses from operations at the Nautilus Cryptomine facility is reflected within “Equity in net income (loss) of investee, net of tax” in the consolidated statements of operations. Accordingly, operating results of the Nautilus Cryptomine facility are not reflected in revenue, cost of revenue or cost of operations lines in TeraWulf’s consolidated statements of operations. The Company uses these metrics as indictors of operational progress and effectiveness and believes they are useful to investors for the same purposes and to provide comparisons to peer companies. All figures except Bitcoin Self-Mined are estimates and remain subject to standard month-end adjustments.
2 Includes bitcoin earned from profit sharing associated with a hosting agreement at the Lake Mariner facility and TeraWulf’s net share of bitcoin mined at the Nautilus Cryptomine facility, based on hashrate share attributed to the Company.
3 Computed as the weighted-average opening price of bitcoin on each respective day the Bitcoin Self-Mined is earned.
4 Excludes hashrate associated with 64 bitcoin earned from profit sharing associated with a hosting agreement.
5 While nameplate inventory for WULF’s two facilities is estimated at 5.5 EH/s as of December 31, 2023, the Company significantly expanded capacity at its Lake Mariner facility during 2023 (from 2.0 EH/s as of December 31, 2022). Further, actual monthly hash rate performance depends on a variety of factors, including (but not limited to) performance tuning to increase efficiency and maximize margin, scheduled outages (scopes to improve reliability or performance), unscheduled outages, curtailment due to participation in various cash generating demand response programs, derate of ASICS due to adverse weather and ASIC maintenance and repair.
6 Assumes first full day of halving is April 21, 2024.
7 Assumes 3% ancillary load. Nameplate miner efficiency is 24.6 J/TH pre-halving and 23.3 J/TH post-halving.
8 2024 pre-halving bitcoin mined based on actual results for January and February 2024 (per publicly filed monthly operating reports) and estimated results for March 2024 and for the period April 1, 2024 to April 20, 2024 based on “Illustrative Market Inputs” and “Illustrative Operating Inputs” above.
9 2024 pre-halving power cost reflects estimated power costs of $0.053/kWh for January 2024, $0.037/kWh for February 2024, $0.030/kWh for March 2024, and $0.030/kWh for the period April 1, 2024 to April 20, 2024.
10 Interest expense in 2024 based on 11.5% interest rate and $106 million principal balance of debt outstanding in Q1 2024 and $81 million outstanding in Q2-Q4 2024. Does not reflect anticipated incremental debt repayments with cash generated in Q2-Q4 2024.
11 Net debt calculated as the outstanding principal balance of the Company’s term loan less cash and cash equivalents.
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Source: Terawulf Inc.
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TeraWulf Announces February 2024 “Leap Month” Production and Operations Update
7.9 EH/s of installed and operational self-mining capacity
Building 4 (35 MW) at Lake Mariner advancing construction, providing path to 10 EH/s by mid-2024
EASTON, Md., March 04, 2024 (GLOBE NEWSWIRE) -- TeraWulf Inc. (Nasdaq: WULF) (“TeraWulf” or the “Company”), owners and operators of vertically integrated, domestic bitcoin mining facilities powered by more than 95% zero-carbon energy, today provided an unaudited monthly production and operations update for February 2024.
February 2024 Production and Operations Highlights
Self-mined 364 bitcoin in February with an average production rate of over 12.5 bitcoin per day.
Power cost averaged $13,968 per bitcoin self-mined, or approximately $0.037/kWh in February, which excludes the benefit of expected demand response or ancillary services proceeds.
Average operating hashrate increased 39% month-over-month to 7.5 EH/s in February.
The Company foresees exiting March with a self-mining capacity surpassing 8.0 EH/s, primarily attributable to the acquisition of approximately 4,000 Bitmain S19k Pro miners in February, a portion of which are intended to replace approximately 2,000 MinerVa miners deployed at the Lake Mariner facility.
Key Metrics 1 February 2024 January 2024
Bitcoin Self-Mined Lake Mariner 2 276 204
Bitcoin Self-Mined Nautilus3 88 109
Value per Bitcoin Self-Mined 4 $49,080 $42,810
Power Cost per Bitcoin Self-Mined 5 $13,968 $16,737
Avg. Operating Hash Rate (EH/s) 6 7.5 5.4
Management Commentary
“During February, the Company mined 364 bitcoin, a 16% increase from January’s bitcoin production despite a shorter month, due to full deployment of Building 3 at Lake Mariner,” said Sean Farrell, SVP of Operations at TeraWulf.
“Energy pricing at Lake Mariner remained advantageous during the month. Even with Lake Mariner’s participation in demand response during the month, we achieved an impressive overall fleet availability of 95%,” continued Farrell.
Production and Operations Update
Operational infrastructure capacity at the Lake Mariner facility was 160 MW and TeraWulf’s total self-mining hashrate reached 7.9EH/s as of month-end February. Construction of Building 4 (35 MW) at the Lake Mariner facility remains on track to be completed by mid-2024, which is expected to further increase TeraWulf’s total operational capacity to approximately 10 EH/s.
As previously announced, the Company is pursuing a potential large-scale, high-performance computing (HPC) project at the Lake Mariner site and has committed an initial 2 MW block of power, capable of deploying thousands of the latest generation graphics processing units (GPUs).
About TeraWulf
TeraWulf owns and operates vertically integrated, environmentally clean bitcoin mining facilities in the United States. Led by an experienced group of energy entrepreneurs, the Company currently has two Bitcoin mining facilities: the wholly owned Lake Mariner facility in New York, and Nautilus Cryptomine facility in Pennsylvania, a joint venture with Cumulus Coin, LLC. TeraWulf generates domestically produced Bitcoin powered by 95% zero carbon energy resources including nuclear, hydro, and solar with a goal of utilizing 100% zero-carbon energy. With a core focus on ESG that ties directly to its business success, TeraWulf expects to provide industry leading mining economics at an industrial scale.
Forward-Looking Statements
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. Such forward-looking statements include statements concerning anticipated future events and expectations that are not historical facts. All statements, other than statements of historical fact, are statements that could be deemed forward-looking statements. In addition, forward-looking statements are typically identified by words such as “plan,” “believe,” “goal,” “target,” “aim,” “expect,” “anticipate,” “intend,” “outlook,” “estimate,” “forecast,” “project,” “continue,” “could,” “may,” “might,” “possible,” “potential,” “predict,” “should,” “would” and other similar words and expressions, although the absence of these words or expressions 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 that have been anticipated. Actual results may vary materially from those expressed or implied by forward-looking statements based on a number of factors, risks, uncertainties and assumptions, including, among others: (1) conditions in the cryptocurrency mining industry, including fluctuation in the market pricing of bitcoin and other cryptocurrencies, and the economics of cryptocurrency mining, including as to variables or factors affecting the cost, efficiency and profitability of cryptocurrency mining; (2) competition among the various providers of cryptocurrency mining services; (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, cryptocurrency usage and/or cryptocurrency mining, and/or regulation regarding safety, health, environmental and other matters, which could require significant expenditures; (4) the ability to implement certain business objectives and to timely and cost-effectively execute integrated projects; (5) failure to obtain adequate financing on a timely basis and/or on acceptable terms with regard to growth strategies or operations; (6) loss of public confidence in bitcoin or other cryptocurrencies and the potential for cryptocurrency market manipulation; (7) adverse geopolitical or economic conditions, including a high inflationary environment; (8) the potential of cybercrime, money-laundering, malware infections and phishing and/or loss and interference as a result of equipment malfunction or break-down, physical disaster, data security breach, computer malfunction or sabotage (and the costs associated with any of the foregoing); (9) the availability, delivery schedule and cost of equipment necessary to maintain and grow the business and operations of TeraWulf, including mining equipment and infrastructure equipment meeting the technical or other specifications required to achieve its growth strategy; (10) employment workforce factors, including the loss of key employees; (11) litigation relating to TeraWulf, RM 101 f/k/a IKONICS Corporation and/or the business combination; and (12) other risks and uncertainties detailed from time to time in the Company’s filings with the Securities and Exchange Commission (“SEC”). Potential investors, stockholders 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 does not assume any obligation to publicly update any forward-looking statement after it was made, whether as a result of new information, future events or otherwise, except as required by law or regulation. Investors are referred to the full discussion of risks and uncertainties associated with forward-looking statements and the discussion of risk factors contained in the Company’s filings with the SEC, which are available at www.sec.gov.
Company Contact:
Jason Assad
Director of Corporate Communications
assad@terawulf.com
(678) 570-6791
1 The Company’s share of the earnings or losses from operations at the Nautilus Cryptomine facility is reflected within “Equity in net income (loss) of investee, net of tax” in the consolidated statements of operations. Accordingly, operating results of the Nautilus Cryptomine facility are not reflected in revenue, cost of revenue or cost of operations lines in TeraWulf’s consolidated statements of operations. The Company uses these metrics as indictors of operational progress and effectiveness and believes they are useful to investors for the same purposes and to provide comparisons to peer companies. All figures except Bitcoin Self-Mined are estimates and remain subject to standard month-end adjustments.
2 Includes 0.4 bitcoin and 5 bitcoin earned in February and January, respectively, from profit sharing associated with a hosting agreement at the Lake Mariner facility.
3 Includes TeraWulf’s net share of bitcoin mined at the Nautilus Cryptomine facility, based on hashrate share attributed to the Company.
4 Computed as the weighted-average opening price of bitcoin on each respective day the Bitcoin Self-Mined is earned.
5 Excludes hashrate associated with 0.4 bitcoin and 5 bitcoin earned in February and January, respectively, from profit sharing associated with a hosting agreement.
6 While nameplate inventory as of February 29, 2024 for WULF’s two facilities is estimated at 7.9 EH/s, actual monthly hash rate performance depends on a variety of factors, including (but not limited to) performance tuning to increase efficiency and maximize margin, scheduled outages (scopes to improve reliability or performance), unscheduled outages, curtailment due to participation in various cash generating demand response programs, derate of ASICS due to adverse weather and ASIC maintenance and repair.
https://www.globenewswire.com/newsroom/ti?nf=OTA1NzExMCM2MTE4MjY1IzIyNTkyNzY=
https://ml.globenewswire.com/media/YjYzNjkwM2UtMzY1Ny00Y2I3LTlkZGItNDlkM2E4MDZjZWM1LTEyNzA4MjY=/tiny/Terawulf-Inc-.png
Source: Terawulf Inc.
© 2024 GlobeNewswire, Inc.
https://www.otcmarkets.com/stock/WULF/news/story?e&id=2784624
Pink Current today!!!
PDGO Paradigm Oil & Gas, Inc. (PDGO) Expands Market Presence with Proposed Strategic Oil and Gas AcquisitionsPress Release | 05/02/2024
May 2, 2024
OTC Disclosure & News Service
New York, NY —
This release includes additional documents. Select the link(s) below to view.
May 2, 2024 PDGO Press Release.pdf
https://www.otcmarkets.com/stock/PDGO/news/Paradigm-Oil--Gas-Inc-PDGO-Expands-Market-Presence-with-Proposed-Strategic-Oil-and-Gas-Acquisitions?id=439005
Paradigm Oil & Gas, Inc. (PDGO) Expands Market Presence with Proposed Strategic Oil and Gas AcquisitionsPress Release | 05/02/2024
May 2, 2024
OTC Disclosure & News Service
New York, NY —
This release includes additional documents. Select the link(s) below to view.
May 2, 2024 PDGO Press Release.pdf
https://www.otcmarkets.com/stock/PDGO/news/Paradigm-Oil--Gas-Inc-PDGO-Expands-Market-Presence-with-Proposed-Strategic-Oil-and-Gas-Acquisitions?id=439005
Yeah, it's a weekly May 10 expiration, it'll be worthless under 185 after May 10, but you can buy any time frame you want, I like the shorter term exp for earnings release bets, and longer term, 3 months out, for chart breakouts
Here is a good scale to limit risk and keep you from getting too crazy
Stocks trading $10-20 buy 20-30 options for .25-.50 risk is $500-1500
Stocks trading $21-50 buy 10-20 options for .50-1.00 risk is $500-2000
Stocks trading $51-100 buy 5-10 options for 1.00-2.00 risk is $500-2000
Stocks trading $101-200 buy 2-5 options for 2.00-5.00 risk is $400-2500
Stocks trading $201-500 buy 1-2 options for 5.00-10.00 risk is $500-2000
Stocks trading $501-1000 buy 1 option for 10.00-15.00 risk is $1000-1500
That's one HUGE BUY! Good eye! Some Whales scoopin up NSAV, the risk/reward ratio is just too good here! I mean 2021 NSAV was just starting into Crypto, now they are a revenue producing company trading on the OTC!!!
No, I don't have any from those years, and a screenshot of what? What free shares? No shares are free, we all have to pay money for shares even in OTC, trading is NOT free.
Ummm, pretty sure Jan 1, 2021 was the first day of 2021, thus anything after and including that day would be considered "Since 2021" right?
Yes, I made good money and lightened the load b4 the EM, then sold 5's today what I had left at a loss...but I was surprised it bounced to 11's and 12's after the 5's open
The other China Scam ticker was sent to Expert Market today! If you guys were not aware.
Note from the Chartmaster: Biggest mistake I see in OTC is peeps whining about how long they have been at a loss on a position, and they can't wait to sell at break even....then the market rips and leaves them behind with a would of should of could of story! Look, we invest to make money and OTC is the place to make it big, you just gotta be patient and let it happen....I'm holding for .06-.15 range period, not selling any shares! Let's all get rich again together!!!!
Thanks for the chart, but there is no gap, gaps happen when there is no trades between the previous days HOD and the following days LOD, the Doji pattern day today looks inviting to me! And Powell's speech is sending markets higher! Bottoms are in in Big Board stocks and NSAV today!
Options work like this: You give up your money and then watch as your investment expire worthless! Lol! But sometimes you make a killing!
Yes, options control 100 shares so when I pay 5.45 it's cost is $545
my 185 strike May 10th call option now pays me everything above 185 by May 10th, but since I paid 5.45 I won't be in profits till it trades 190.46, and it will expire worthless under 185 by May 10, GL
Price may be red today, but the chart pattern price bar is positive today! Cuz it's a Doji day!!! 43 lod will not be breached now imo and all i ask is we close over .005 support today
Yes! Reversal day off 6's low!!!
Agreed, get your shares under .01 b4 the big run to .06-.15, I'm holding over 5mill shares now!
Only number that matters is the Unrestricted count, that's the tradable pie, and there is no increase to the pie
Unrestricted OS 6,363,667,435 04/30/2024
Share Structure: https://www.otcmarkets.com/stock/NSAV/security
Yup! And we learned this morning where the line in the sand is, it's .0043
I just slapped the ask at 60!!! Good to see 60 back again!
Sir, Again there is NO DILUTION!!! Stop posting lies! Here is the SS count again, please monitor it daily and let us know if it ever changes!
Unrestricted OS 6,363,667,435 04/30/2024
Share Structure: https://www.otcmarkets.com/stock/NSAV/security
Today's bar now a Doji! Perhaps we can close green and make it a reversal day with 43 lod that will not be seen again!