Brings Strong Financial and ESG Expertise to TeraWulf as it Prepares to Begin Mining Operations

TeraWulf Inc. (Nasdaq: WULF) (“TeraWulf”), which was formed to own and operate fully integrated environmentally clean bitcoin mining facilities in the United States, today announced it has appointed William “Sandy” Harrison as Vice President of Investor Relations, effective immediately.

Mr. Harrison brings to TeraWulf significant experience in financial and marketing communications, equity research, financial analysis and strategic planning. Most recently, he served as Vice President of Investor Relations at Semtech Corporation for eight years, with responsibility for leading the company’s investor relations program and establishing its environmental, sustainability and governance (ESG) team. Before joining Semtech, Mr. Harrison held analyst positions with increasing levels of responsibility at Wunderlich Securities, Signal Hill Capital Group and Pacific Growth Equities.  Mr. Harrison holds a Master of Business Administration in finance & accounting from Loyola University and a bachelor’s degree in industrial psychology & history from Washington & Lee University.

TeraWulf began trading on the Nasdaq Stock Market LLC in December 2021 after completing its business combination with IKONICS Corporation. The Company is developing two fully integrated environmentally clean bitcoin mining facilities, Lake Mariner in New York and Nautilus Cryptomine in Pennsylvania, with the objective of 800 megawatts of mining capacity deployed by 2025, enabling over 23 exahash per second of expected hashrate. The Lake Mariner facility is expected to begin mining operations in the first quarter.

“Sandy’s unique blend of experience is a natural fit for TeraWulf, bringing an expertise in investor relations and ESG programs, a comprehensive understanding of the financial markets and deep investor connections,” said Paul Prager, Chief Executive Officer and chair of the board of TeraWulf. “We are pleased to have him join the team as we finalize preparations to begin mining operations at Lake Mariner this quarter. With a fully integrated, environmentally clean platform, we expect to be able to offer attractive economics and advance towards or our goal of providing domestically produced bitcoin powered by 100% zero-carbon energy.”

“With a seasoned team of energy industry experts who understand the complex logistics required to undertake bitcoin mining at an industrial scale, as well as a genuine commitment to strong ESG values, TeraWulf truly stands out as best-in-class,” said Mr. Harrison. “I look forward to putting my skills to work as we establish TeraWulf as the leader in fully integrated environmentally friendly bitcoin mining.”