TeraWulf Inc. (Nasdaq: WULF) (“TeraWulf” or the “Company”), a
leading owner and operator of vertically integrated,
next-generation digital infrastructure powered by predominantly
zero-carbon energy, today announced that Sean Farrell has been
promoted to Chief Operating Officer, effective immediately. Mr.
Farrell will continue to report directly to Nazar Khan, Chief
Technology Officer of TeraWulf.
“This promotion reflects Sean’s exceptional leadership,
unwavering commitment to operational excellence, and the strong
relationships he has cultivated within and outside the Company,”
said Paul Prager, Chief Executive Officer of TeraWulf. “Our
leadership team is a vital asset to TeraWulf, and Sean embodies the
qualities that drive our success. His energy, passion, and
determination will be invaluable as we enhance our high-performance
computing (HPC) and artificial intelligence (AI) data center
capabilities.”
Prager further emphasized, “In this new role, which combines
strategic vision with operational execution, we are positioning
TeraWulf to navigate rapid expansion and unlock significant value.
It is crucial that our leadership team delivers results for our
shareholders. Sean’s promotion marks a significant step forward in
our commitment to operational excellence and organic growth. His
technical experience and tireless attitude are precisely what
TeraWulf needs, and we are fortunate to have him on our team.”
Mr. Farrell brings over 13 years of experience in the energy
sector, specializing in renewables, grid optimization, electric
delivery, digitalization, and storage solutions across various
business domains. Most recently, he served as Senior Vice President
of Operations at TeraWulf, where he coordinated and oversaw the
Company's data center operations and vertical integration
strategy.
Before joining TeraWulf, Mr. Farrell was the North American Head
of Onshore Sales and Marketing at Siemens Gamesa Renewable Energy
Inc., where he led product development, sales, and market strategy
for onshore wind turbines in the U.S. and Canada. He began his
career in the energy industry at Siemens Energy, progressing
through roles of increasing responsibility within their Power
System Sales organization, focusing on generation and electric
delivery across diverse verticals for over a decade.
“I am honored and excited by this opportunity to lead TeraWulf’s
digital infrastructure operations,” said Sean Farrell. “Having
worked alongside TeraWulf’s talented professionals for almost three
years, I see substantial opportunities for growth and the expansion
of our capacity to support HPC and AI compute workloads. I look
forward to driving that growth in the coming years to be a top
player in the space.”
About TeraWulf
TeraWulf develops, owns, and operates environmentally
sustainable, next-generation data center infrastructure in the
United States, specifically designed for Bitcoin mining and
high-performance computing. Led by a team of seasoned energy
entrepreneurs, the Company owns and operates the Lake Mariner
facility situated on the expansive site of a now retired coal plant
in Western New York. Currently, TeraWulf generates revenue
primarily through Bitcoin mining, leveraging predominantly
zero-carbon energy sources, including nuclear and hydroelectric
power. Committed to environmental, social, and governance (ESG)
principles that align with its business objectives, TeraWulf aims
to deliver industry-leading economics in mining and data center
operations at an industrial scale.
Forward-Looking Statements This press release
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 anticipated future events and expectations
that are not historical facts. All statements, other than
statements of historical fact, are statements that could be deemed
forward-looking statements. In addition, forward-looking statements
are typically identified by words such as “plan,” “believe,”
“goal,” “target,” “aim,” “expect,” “anticipate,” “intend,”
“outlook,” “estimate,” “forecast,” “project,” “continue,” “could,”
“may,” “might,” “possible,” “potential,” “predict,” “should,”
“would” and other similar words and expressions, although the
absence of these words or expressions does not mean that a
statement is not forward-looking. Forward-looking statements are
based on the current expectations and beliefs of TeraWulf’s
management and are inherently subject to a number of factors,
risks, uncertainties and assumptions and their potential effects.
There can be no assurance that future developments will be those
that have been anticipated. Actual results may vary materially from
those expressed or implied by forward-looking statements based on a
number of factors, risks, uncertainties and assumptions, including,
among others: (1) conditions in the cryptocurrency mining industry,
including fluctuation in the market pricing of bitcoin and other
cryptocurrencies, and the economics of cryptocurrency mining,
including as to variables or factors affecting the cost, efficiency
and profitability of cryptocurrency mining; (2) competition among
the various providers of cryptocurrency mining services; (3)
changes in applicable laws, regulations and/or permits affecting
TeraWulf’s operations or the industries in which it operates,
including regulation regarding power generation, cryptocurrency
usage and/or cryptocurrency mining, and/or regulation regarding
safety, health, environmental and other matters, which could
require significant expenditures; (4) the ability to implement
certain business objectives and to timely and cost-effectively
execute integrated projects; (5) failure to obtain adequate
financing on a timely basis and/or on acceptable terms with regard
to growth strategies or operations; (6) loss of public confidence
in bitcoin or other cryptocurrencies and the potential for
cryptocurrency market manipulation; (7) adverse geopolitical or
economic conditions, including a high inflationary environment; (8)
the potential of cybercrime, money-laundering, malware infections
and phishing and/or loss and interference as a result of equipment
malfunction or break-down, physical disaster, data security breach,
computer malfunction or sabotage (and the costs associated with any
of the foregoing); (9) the availability, delivery schedule and cost
of equipment necessary to maintain and grow the business and
operations of TeraWulf, including mining equipment and
infrastructure equipment meeting the technical or other
specifications required to achieve its growth strategy; (10)
employment workforce factors, including the loss of key employees;
(11) litigation relating to TeraWulf and/or its business; and (12)
other risks and uncertainties detailed from time to time in the
Company’s filings with the Securities and Exchange Commission
(“SEC”). Potential investors, stockholders and other readers are
cautioned not to place undue reliance on these forward-looking
statements, which speak only as of the date on which they were
made. TeraWulf does not assume any obligation to publicly update
any forward-looking statement after it was made, whether as a
result of new information, future events or otherwise, except as
required by law or regulation. Investors are referred to the full
discussion of risks and uncertainties associated with
forward-looking statements and the discussion of risk factors
contained in the Company’s filings with the SEC, which are
available at www.sec.gov.
Investors:Investors@terawulf.com
Media:media@terawulf.com
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