TeraWulf to buy 18,500 S19j XP miners for $53.4M; self-mining hashrate to rise 58% to 7.9 EH/s by end 2023

TERAWULF INC.

Agreement with Bitmain for 15,138 S19j XP miners (option for 3,362 more) at total purchase price $75.4M, reduced to $53.4M after coupons.
New miners delivered in equal monthly allotments Oct–Dec 2023; deployed at Lake Mariner facility in Building 3 (43 MW capacity).
Self-mining hashrate expands from 5.0 EH/s to 7.9 EH/s; fleet efficiency targeted at 25.7 J/TH with 91% zero-carbon power.
Average power cost of 3.5 cents/kWh and 98%+ availability cited for improved profit margins ahead of halving.
First large-scale order of S19j XP miners; each unit rated at 151 TH/s and 21.5 J/TH.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

TERAWULF INC. entered into Future Sales and Purchase Agreement with Bitmain Technologies Delaware Limited valued at $75.4 million (effective 2023-07-14).

Action: entry
Agreement: asset purchase
Counterparty: Bitmain Technologies Delaware Limited
Value: $75.4 million
Effective: 2023-07-14

Exact text from the filing

On July 14, 2023, TeraLease LLC (“ TeraLease ”), a subsidiary of TeraWulf Inc. (the “ Company ”) entered into a future sales and purchase agreement (the “ Agreement ”) with Bitmain Technologies Delaware Limited (“ Bitmain ”). The Agreement provides that TeraLease will receive 15,138 S19j XP miners from Bitmain, with an option to receive an additional 3,362 miners if the Company meets its payment obligations under the Agreement, for delivery in Q4 2023 for a total purchase price of $75.4 million

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Source: SEC EDGAR

accession 0001083301-23-000033

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