TeraWulf (WULF) Announces Proposed Public Offering of Common Stock

TeraWulf Inc. (Nasdaq: WULF) (“TeraWulf” or the “Company”), which owns and operates vertically integrated, domestic Bitcoin mining facilities powered by more than 91% zero-carbon energy, today announced that it is commencing an underwritten public offering of its common stock (the "Offering"). TeraWulf also expects to grant to the underwriter for the Offering a 30-day option to purchase up to an additional 15% of the number of shares of common stock offered in the public offering. All of the shares to be sold in the Offering will be sold by TeraWulf, subject to customary closing conditions.

TeraWulf intends to use the net proceeds from the Offering for general corporate purposes, which may include working capital and/or capital expenditures.

JonesTrading Institutional Services LLC (“JonesTrading”) is acting as the sole book-running manager for the Offering.

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