TeraWulf Inc. (WULF) Q4 2024 Earnings Call

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WEBVTT 00:00:00.031 -- 00:00:05.056 for Wolf Compute with the announcement of our first data center lease agreements 00:00:05.056 -- 00:00:07.256 with Core42. 00:00:07.819 -- 00:00:11.122 Let's start with our Wolf mining business. 00:00:11.122 -- 00:00:16.247 Our profitable mining operations leverage predominantly zero carbon energy 00:00:16.247 -- 00:00:20.671 at our state-of-the-art Lake Mariner facility in upstate New York. 00:00:20.671 -- 00:00:22.173 In 2024, 00:00:22.173 -- 00:00:27.438 we doubled revenue and adjusted EBITDA year over year, driven 00:00:27.438 -- 00:00:32.429 by higher Bitcoin production and favorable Bitcoin pricing. 00:00:32.429 -- 00:00:37.738 As of year end, Wolf Mining achieved a hash rate of 9.7 exahash 00:00:37.738 -- 00:00:42.545 per second, powered by approximately 60,000 miners. 00:00:42.545 -- 00:00:45.189 We have now received over 90% 00:00:45.189 -- 00:00:51.058 of our new S21 Pro miners, which, once fully deployed in Miner Building 5, 00:00:51.058 -- 00:00:56.727 will bring our total mining power utilization to 245 megawatts, 00:00:56.727 -- 00:01:00.165 increase our hash rate to 13.1 exahash 00:01:00.165 -- 00:01:05.572 per second and improve our fleet efficiency to 18.2 00:01:05.572 -- 00:01:08.193 joules per terahash. 00:01:08.296 -- 00:01:13.783 Despite challenges such as record network difficulty and the anticipated 00:01:13.783 -- 00:01:17.848 Bitcoin halving in April 2024, we successfully 00:01:17.848 -- 00:01:19.791 mined 423 00:01:19.791 -- 00:01:25.316 Bitcoin in the fourth quarter and a total of 2,177 00:01:25.479 -- 00:01:28.901 Bitcoin throughout the year. 00:01:28.979 -- 00:01:31.543 A pivotal moment in 2024 00:01:31.543 -- 00:01:36.272 was the sale of a Nautilus CryptoMine joint venture in October. 00:01:36.272 -- 0...