Terawulf Inc. · NASDAQ:WULF
Terawulf — Investor Presentation (February 2023)
18 slides from Terawulf's investor presentation, Feb 1, 2023
Slide 1: Investor Presentation January 2023
1 Investor PresentationJanuary 2023An Infrastructure-Focused Mining Company
Slide 2: Safe Harbor Statement
SAFE HARBOR STATEMENT This presentation is for informational purposes only and 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 ant
Slide 3: TeraWulf at a Glance
TeraWulf at a Glance 3•Current hash rate of 2.0 EH/s with ~18,000 miners deployed–~11,500 self miners (1.4 EH/s) and ~6,500 (0.7 EH/s) hosted miners–Short-term hosting leverages available plugs pending Q1 2023 miner deliveries•160 MW of mining infrastructure expected to be fully utilized in early Q2
Slide 4: Why WULF Wins: The Four P's
Why WULF Wins: The Four “P’s”Digital Asset Infrastructure FirstFoundation to Scale Experienced Energy EntrepreneursPower & InfrastructureExpertsSustainable, Scalable FacilitiesKey Relationships & Site ControlESG Principled and PracticedDriving the Future of Bitcoin Mining4 PlugsPeoplePowerPriorities
Slide 5: Plugs: Sustainable and Scalable Sites
Plugs: Sustainable and Scalable Sites130 MWNear-term additional capacity available at existing sites> 91%Zero-carbon power supply today, with goal of achieving 100%3.5 ¢ Per kilowatt hour targeted average power cost5 91%+ Zero Carbon (1)110 MW Online early Q2 2023500+ MW Hydro, Solar 100% Zero Carbo
Slide 6: People: Best-in-Class Management Team
People: Best-in-Class Management TeamLed by an accomplished, diverse management team with 30+ years of experience in developing and managing energy infrastructure N A Z A R K H A NCo-Founder, Chief Operating Officer & Chief Technology Officer20+ years in energy infrastructure and cryptocurrency mini
Slide 7: Power: Industry-Leading Cost Profile
Power: Industry-Leading Cost ProfileNote: future estimates are based on current expectations and market conditions and are subject to change.*Q4 2022 power cost reflects available price and load data and is subject to customary quarter-end adjustments. $0.032 $0.025 $0.017 $0.031 $0.076 $0.089 $0.06
Slide 8: WULF Mission
WULF MissionTo be the premier large-scale, zero-carbonbitcoin miner,generating attractive investorreturnswhile providingsustainable benefits forourcommunities. Experienced Energy EntrepreneursInfrastructure FirstScalable and FlexibleTransparent Governance Business IntegrityResponsible Energy Sour
Slide 9: Efficiently Scaling Self-Mining Operations
Efficiently Scaling Self-Mining OperationsNote: the number of miners represented on chart are approximate figures.(1)Includes hashing capacity of Building 2 (50 MW) at the Lake Mariner facility, which is expected to be energized in early Q2 2023.(2)Reflects TeraWulf’s 25% interest in the Nautilus Cr
Slide 10: Infrastructure and Hash Rate Deployment
Note: Future deployment figures reflect anticipated capacity based on current expectations and market conditions and are subjectto change.Flexible growth through dynamic markets10 Infrastructure and Hash Rate DeploymentMiners procured for 5.0 EH/s with capacity to support 5.5 EH/s (hosting 0.5 EH/s
Slide 11: Illustrative Annual Gross Margin
Illustrative Annual Gross Margin(1)Reflects gross margin for full deployment of 160 MW of mining capacity across Lake Mariner and Nautilus Cryptominefacilities.(2)Period-ending Bitcoin Price calculated by linearly decreasing/increasing the starting Bitcoin price of $20,000 on December 31, 2022.(3)Pe
Slide 12: Runway to FCF Positive
Runway to FCF PositiveAnticipate full 160 MW deployment by early Q2 202312 Note: Future estimates reflect anticipated capacity based on current expectations and market conditions and are subject to change.(1)Assumes hash rate of 275 EH/s and that LMD Building 2 is energized in early Q2 2023.(2)Assum
Slide 13: Illustrative Pre- and Post-Halving Power Cost per BTC
Note: For illustrative purposes only.(1)Assumed cost of power based upon estimated cost for an asset light bitcoin miner.(2)288 EH/s 3-day average hash rate as of January 17, 2023, accessed from https://data.hashrateindex.com/network-data/btc.(3)Reflects illustrative average network hash rate of 374
Slide 14: Emerging Leader in Digital Asset Infrastructure
Emerging Leader in Digital Asset Infrastructure•Best-in-class Bitcoin mining due to low-cost, sustainable, and domestic bitcoin mining at industrial scale targeting zero-carbon energy leveraging nuclear, hydro, and solar resources•Vertically integrated, infrastructure first strategy ensures ability
Slide 15: Site Updates
SITE UPDATES
Slide 16: Lake Mariner Data (NY)
Lake Mariner Data (NY) 16 (1)Excludes 1,500-miner hosting agreement that terminates in February 2023. Location:Barker, NYOwnership:100%Site Control:Long-term leaseInfra. Capacity:500 MW site potentialPower Source:91%+ hydroDeployment:•60 MW operational•50 MW under construction, expected online in Q2
Slide 17: Nautilus Cryptomine (PA)
Nautilus Cryptomine (PA) 17 Location:Berwick, PAOwnership:25% (JV with Talen)Site Control:Long-term leaseInfra. Capacity(1):•50 MW targeted online early Q2 2023•50 MW optional expansionPower Source:Nuclear powerDeployment:Completing construction; commencing operations in Q1 2023Proprietary Miners:•9
Slide 18: NASDAQ: WULF Contact
NASDAQ: WULFContact:ir@terawulf.comwww.TeraWulf.com/contact