TeraWulf Joins the Bitcoin Mining Council

TeraWulf is aggressively establishing mining operations in New York and Pennsylvania and has acquired competitive power supply agreements for both in accordance with its carbon regulations.

FREMONT, CA: TeraWulf Inc. ("TeraWulf"), a U.S.-based bitcoin mining company, has declared that it has joined the Bitcoin Mining Council. The Bitcoin Mining Council is an open forum of bitcoin miners dedicated to encouraging transparency, sharing best practices, and educating the public on the benefits of bitcoin and bitcoin mining.

TeraWulf is aggressively establishing mining operations in New York and Pennsylvania and has acquired competitive power supply agreements for both in accordance with its carbon regulations. TeraWulf's Pennsylvania location is projected to be the first bitcoin mining plant fueled entirely by zero-carbon nuclear energy.

Paul Prager, Chairman & Chief Executive Officer of TeraWulf, stated, "We are thrilled to join the Bitcoin Mining Council and are honored to support sustainable bitcoin mining. Together, for more than a decade, the TeraWulf management team has owned, operated, and built over 2.3 gigawatts of electricity infrastructure worldwide. We understand energy infrastructure and we have proven that we know how to operate efficiently and effectively on an industrial scale."

Mr. Prager stated, "Our team believes that controllable load resources like bitcoin miners will play a crucial role in enhancing grid reliability and renewable energy integration. With 60,000 miners on order from Bitmain and Minerva to date, and 800 megawatts of expected sustainable energy capacity by 2025, TeraWulf is positioned to become a global leader in bitcoin mining. I could not be more excited about TeraWulf and the future of bitcoin."

TeraWulf expects to continue developing, owning, and operating its mining operations in the US following the completion of its previously announced business combination with IKONICS Corporation.