TeraWulf - CFO Patrick Fleury Q&A - Fluidstack & Google Deal, Details & Strategy!

Power Mining Analysis

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

บท

1. Introduction to Terawolf's FluidStack Deal (00:00:00)

2. Breaking Down the FluidStack-Google Partnership (00:01:53)

3. Financing Strategy and Google's Equity Stake (00:08:55)

4. Core42 Progress and Timeline Updates (00:15:27)

5. Bitcoin Mining Strategy and Power Costs (00:22:29)

6. Hyperscaler Negotiations and Market Position (00:34:07)

7. Future Growth and Shareholder Value Strategy (00:43:38)

8. Closing Thoughts and Appreciation (00:53:17)