Season 1 Episode 379
Terawulf CFO Patrick Fleury discusses the company's massive $6.7 billion FluidStack-Google deal and how it transforms their business from Bitcoin mining to high-power computing infrastructure. We explore the innovative financing structure, timeline for execution, and how Google's 14% equity stake and $3.2 billion lease backstop creates significant shareholder value.
• $6.7 billion, 10-year deal with FluidStack and Google with additional options potentially worth another $9 billion
• Google backstopping approximately $3.2 billion of lease obligations while taking a 14% equity stake
• Core42 assets are on track with Wolf Den and CB1 already online, CB2 coming in Q4 2023
• FluidStack-Google capacity will come online in phases from first half 2024 through early 2027
• Combined projects expected to generate approximately $780 million in annual revenue
• Innovative financing structure potentially saves $1.5 billion in interest expenses over 10 years
• $1 billion convertible note offering completed with no dilution until share price exceeds $18
• Bitcoin mining operations expected to continue for 2-3 more years, funding SG&A while compute business ramps up
• Management projects $600 million in annual EBITDA once fully operational
• Terawulf's approach of "walk before run" proved crucial in winning hyperscaler business
Take a second to hit the like button, and let us know in the comments if you're currently holding shares of Terawulf and if you consider yourself a member of the $WULFpack.
Sign Up for Our Free Weekly Newsletter: https://www.powermininganalysis.com/newsletter
Anthonys Info:
Website:
https://www.powermininganalysis.com
X:
https://twitter.com/cazenove_uk
Patreon:
https://www.patreon.com/Cazenove_UK
Bryce's Info:
X:
Patreon:
https://www.patreon.com/McNallieMoney
Merch:
https://shop.mcnalliemoney.com/
Website:
Business Inquiries:
Email - powermininganalysis@gmail.com
Published on 3 months, 4 weeks ago
If you like Podbriefly.com, please consider donating to support the ongoing development.
Donate