TeraWulf, Inc. Q4 FY2023 Earnings Call

· Earnings call transcript and AI-powered summary

  • Company Overview: TeraWulf operates two zero-carbon energy data centers: Lake Mariner (93% zero carbon) and Nautilus Cryptomine (powered by nuclear energy). Specializes in Bitcoin mining and is beginning to expand into high-performance computing (HPC) and AI infrastructure through its Wulf Compute division.

Key Operational Highlights

  • Self-Mining Capacity: 8 exahash/second (EH/s) as of February 2024, up more than 3x year-over-year.
  • Bitcoin Mined:
    • Q4 2023: 971 BTC (vs. 994 in Q3; −2%)
    • Full Year 2023: 3,407 BTC (2,168 from Lake Mariner and 1,239 from Nautilus)
  • Mining Cost:
    • Q4 Power Cost per BTC: $10,178 (vs. $9,322 in Q3)
    • Estimated post-halving cost: ~$37,000 per BTC
    • Estimated pre-halving cost: ~$25,000 per BTC
  • HPC/AI Expansion:
    • 2MW power block allocated at Lake Mariner for generative AI pilot
    • Plans to potentially leverage 300MW infrastructure for HPC or AI workloads

Financial Highlights

  • Revenue:
    • Q4 2023: $23.3M (↑23% from $19M in Q3)
    • FY 2023: $69M (↑361% from $15M in FY 2022)

Continue Reading

Unlock the full AI-powered summary with key highlights, financial performance, and analyst Q&A.

Upgrade to Professional
Operator: Greetings, and welcome to the TeraWulf's 2023 Fourth Quarter and Full Year Earnings Call. At this time, all participants are in a listen-only mode. A brief question-and-answer session will follow the formal presentation. As a reminder, this conference is being recorded. It is now my pleasure to introduce your host, Mr. Jason Assad, TeriWulf's Director of Corporate Communications. Thank you. Mr. Assad, you may begin. Jason Assad: Thank you, operator. Good afternoon, and welcome to TeraWulf's earnings call. With me today are Chairman and Chief Executive Officer, Paul Prager, and our Chief Financial Officer, Patrick Fleury. Before we get started, I'd like to remind everyone that our prepared remarks may contain forward-looking statements, which are subject to risk and uncertainties, and we may make additional forward-looking statements during the Q&A session of the call. These forward-looking statements are subject to risk and uncertainties, and actual results may differ materially. When used in this call, the words anticipate, could, enable, estimate, intend, expect, believe, potential, will, should, project, and similar expressions as they relate to TeraWulf are such forward-looking statements. Investors are cautioned that forward-looking statements involve risk and uncertainties, which may cause actual results to differ materially from those anticipated by TeraWulf at this time. In addition, other risks are more fully described in TeraWulf's public filings with the

Continue Reading

Unlock the full earnings call transcript with speaker labels and formatted dialogue.

Upgrade to Professional