TeraWulf Monetizes Equity Interests In Nautilus Joint Venture To Fuel Expansion Of HPC/AI and Bitcoin Mining At Flagship Lake Mariner Facility For A Total Consideration Of ~$92M; Maintains Q1 2025 Target ~13 EH/s Operating Capacity While Upgrading Fleet Efficiency To 18.2 J/TH And Optimizing Operating Expenses
Portfolio Pulse from Benzinga Newsdesk
TeraWulf Inc. has sold its 25% equity interest in the Nautilus Cryptomine joint venture for approximately $92 million, achieving a 3.4x return on investment. The proceeds will be used to expand its Lake Mariner facility, focusing on HPC/AI and Bitcoin mining, with a target of 13 EH/s operating capacity by Q1 2025.
October 03, 2024 | 8:05 pm
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TeraWulf Inc. has monetized its equity interest in the Nautilus joint venture for $92 million, achieving a 3.4x return on investment. The funds will be reinvested into expanding the Lake Mariner facility, enhancing operational efficiency and targeting a 13 EH/s capacity by Q1 2025.
The sale of the Nautilus joint venture stake provides TeraWulf with significant capital to invest in its Lake Mariner facility, which is expected to enhance its operational capacity and efficiency. This strategic move is likely to positively impact TeraWulf's stock price in the short term as it positions the company for growth in the HPC/AI and Bitcoin mining sectors.
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