TeraWulf Interview | Bitcoin Mining Stocks to Watch | Top Bitcoin News Now | WULF Stock | Nazar Khan

TeraWulf Interview | Bitcoin Mining Stocks to Watch | Top Bitcoin News Now | WULF Stock | Nazar Khan

Welcome to McNallie Money, your daily dose of Stocks, Investments and Personal Finance!

Today we are joined by Nazar Khan who is the Co-Founder, COO and CTO of TeraWulf Inc., ticker symbol WULF. TeraWulf Inc., together with its subsidiaries, operates as a digital asset technology company in the United States. It develops, owns, and operates bitcoin mining facility sites. The company operates two bitcoin mining facility sites located in New York and Pennsylvania. Let me know what you think of TeraWulf and if you are currently holding any shares of WULF in the comment section below! 👇

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Thanks for watching and have a great day!

#TeraWulf #WULF #TeraWulfNews #WULFStock #TeraWulfStock #BTC #BTCStocks BTCNews #Bitcoin #BitcoinStocks #BitcoinNews #CheapStocks #CryptoStocks #Crypto #Investing

Company Info:
https://www.terawulf.com

0:00 Intro
1:42 WULF Overview
2:45 Dec Results
3:00 Lake Mariner
4:59 Building 4 & Funding Growth
6:12 Balance Sheet & Debt.
7:50 AI & HPC
10:45 Additional Catalysts
13:15 Halving & Fees
16:08 Closing Thoughts

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Hey guys welcome or welcome back to the channel MCN money home of all things stock investment and personal finance related now for today’s video we’re going to be joined by the COO and co-founder of Tera wolf Nazar can he’s going to be giving us an update on 2024 including their debt repayment strategy

Their growth in terms of EX ahash and an update on construction at their Lake Mariner facility but before we get into all that please take a second hit the like button you guys it’s a big help to myself in the channel if you’re not already subscribed MCN money feel free

To join and let me know in the comment section below if you’re currently holding shares of wolf what your outlook is for 2024 and your price Target in terms of Bitcoin heading into April’s having event now with that being said let’s get into today’s Video okay guys so that’s right today’s video we’ve got a special guest from Tera wolf we’ve got Nazar can who’s the COO and co-founder here to give us an update on their business now Tera wolf has developed quite a cult following here uh very similar to what we’re

Seeing out of the marathon group so it’s exciting to follow this story wolf is one that we’ve been covering for quite some time on the channel uh so thanks for joining us today and looking forward to the discussion thanks Bryce great great to be back happy New Year happy New Year

Indeed yeah uh now no shortage of news to kick off the new year we were just talking about the ETF approval uh prior to starting filming here but before we get into all that can you give us a quick update on ter wolf as an organization for people who maybe aren’t

Super familiar and kind of some of the recent developments sure uh ter wolf is a zero carbon Bitcoin minor we’ve got two sites uh one is in Upstate New York the lake Mariner site we’re running 160 megawatts capacity at that site um we’re ramping that up as we speak and we have another

Site in Pennsylvania we’re on the site of the Susan nuclear facility that facility is called Nautilus it’s a 50 megawatt so Allin we’re 210 megawatt of capacity operation 7.9x aash that will be online here you know within the next couple weeks right on yeah Lake Mariners one we’re we’re looking forward to

Getting an update on in a few questions here but I know the December production results just came out uh that’s fiscal year end calendar year end for a lot of the companies as well so um can we just walk through that quickly give us an update some of highlights from December

And and what you feel the strong points were for 2023 sure we we know we mined 334 Bitcoin the month of December across the two sites we mined 3,400 uh Bitcoin for the entire year we started the year 20123 was an important year for the company we started the year at about 1.5

Xash operating capacity on gen one December 31st we ended at 5 1 half ACC capacity most of that growth occurred at that Lake Mariner facility um and you know that that facility is unique it’s about 25 miles away from Niagara Falls um and so it’s got a tremendous amount

Of hydro hydro power that that supports that facility Lake Mariner is also the site where we see you know meaningful growth you know both in calendar 24 and beyond that site’s intended to be 500 megawatts over time you know at this moment you’re we’re about 160 megawatt

Capacity we think we’ll get to about 250 megaw capacity at that site in calendar 24 and 500 megawatt capacity at that site in calendar 25 and so that’s you know a very important site for us and we we’re going to see quite a bit of growth you know as the terrible portfolio

Continues to grow yeah great and and that’s where I really want to shift the conversation now uh it’s cool you called out Niagara Falls that’s where the family and I went for vacation this summer so I’d highly recommend that as a side note but uh in terms of the

Facility itself I know currently um building three is kind of the focal point so I’d like to get an update on building three and then we’ll start talking about building four and and future plans there sure building three uh is about 43 megawatts capacity uh building three is complete uh we have

Completed the construction on building three we uh put an order in for the s9j XPS over the summer those are have all arrived or should be arriving here within the next you know week to 10 days um and so building three is um you know being the minor being racked as we speak

And we’ll be at a full capacity at building three you know within the next you know week or two here so you we’ll hit that 7.9x a hash um again within the next couple weeks here when building 3 is fully operational but you know again from an electrical perspective it’s fully there

You know we’re in the process as we speak of racking miners if you go on social media you can kind of see you know some of the pictures you know on every day we’re posting um pictures around the rack the minor going into building 3 but that’s again electrically

Complete and we’re racking miners as we speak okay great and and you say that’ll get you to the 7.9 I know the next Milestone on the road map is is the infamous 10x ahash getting into the double digits which is super exciting Anthony and I were talking about how

Much this industry has grown as a whole and and seeing people starting to hit these double digigit Milestones so that’s kind of the next one uh the cool thing about this forum Nazar is we were actually able to get some questions from the audience so Anthony and I had posted

This in a few discussions in chat rooms and people were curious in terms of building for and Beyond how does uh your company plan to finance that growth sure so just on building four um you know we we’ve already poured the foundation for that building uh building four is

Targeted to come online here in mid June um and with the capacity building four as you said that that mythical kind of 10x a hash we will hit that with with building four you know good news we have you know fully funded the capex for the uh infrastructure for building 4 um and

So you know we have not put a minor order in yet and you know we’re working on that um and so as we think about you know kind of funding growth uh going forward I think it’s important to just touch upon you know the balance sheet

First um you know we we made a pay down uh on our debt um last quarter um from free cash flow you know $14 million uh of free cash flow we generated went to pay down debt at this moment our principal balance is $128 million uh we see that principal balance kind of

Getting down you know below 100 million by April mid April um and we’re targeting to kind of bring that that debt balance you know to 50 to $75 million by year end um and so you’re you’re seeing that you know yes we have debt but you know the business is you

Know generating a fair amount of free cash flow and that free cash flow is being used to kind of meaningfully pay down that debt in the second half of the year you now as we kind of get to that 50 to7 75 million of princip balance on

The debt um you know we’ll be looking to either refinance it or kind of you know uh refinance that debt which will allow us to kind of recycle some of the capital that we’re generating from the business as well to to put into the business and so you know we think with

Funding of capex is going to be kind of a mixture both kind of free cash flow from operations as well as you know uh further you know issuances on the equity um but it’s combination of those two that we think will you know continue to

Uh you know will be able to invest into the business yeah I appreciate the transparency there obviously the debt situation is one that a lot of people are curious about the interest rate um environment is changing and so dynamic as we know so uh with the near-term datb

It’s nice to get a bit of a strategy update there so appreciate that the other thing that a few people have been asking about uh aside from the self- mining component here the AI HPC we’re starting to be uh see this become a lot more relevant to many of the publicly

Traded Bitcoin miners what’s the strategy or outlook on that side of the house for uh this year as well sure you know as you know on the ter side you know we we’ve been in the infrastructure business for 25 plus years developed owned operated built uh capitalized infrastructure assets and so

As we got into Bitcoin mining you know the thing that attracted us most to it was again Bitcoin mining we think is principally infrastructure right it’s energy infrastructure you’re converting a kilowatt hour of electricity into hash and so Bitcoin is again one form of compute and one form of data if you

Really think about it and so as we think about these other applications it’s not really a different business line it’s again extending upon the very same expertise that we have with respect to in infrastructure but directing you know kind of that conversion of that kilowatt hour of electricity from a hash you know

For for for Bitcoin into some other kind of form of compute um so what we’ve done is we’ve kind of dedicated in the near-term two megawatts of capacity um to kind of the AI HPC side we’re in a number of discussions with different counterparties around use cases for that

And the way that we’ve kind of structured this initial uh 2 megawatt Target is is to kind of set up a a format of how a a larger growth plan could occur and so that in includes kind of Designing and building the infrastructure they’ll use so again the infrastructure that’s needed to operate

An AI or HPC um data center is different than the traditional Bitcoin mining so is just kind of depending upon the use you know what it is we’re building for them and working together to design that at the site and then developing a road map to kind of grow into over time and

The the density the capital density right per megawatt on the a HPC compute side is significantly higher than Bitcoin mining and so once you factor in kind of between both infrastructure as well as the the chips the kind of the gpus associated with that you know you’re talking about anywhere from $6

To10 million per megawatt of capex you know for per megawatt so the power you know we have the ability to grow and as I mentioned earlier at the lake Mariner site you we’ve got 500 megawatt capacity and so adding in 20 30 40 50 megawatts

Of AI HBC compute in the near term is something that’s very feasible and doable um and again so we we’re looking at this two megawatts as a way to establish that and we’re hoping to kind of get that here announced you know within the first half of the year and

Then the second half of the year will really be about taking that two megawatts and really then building it out into to larger scale yeah I like that test learn scale approach uh especially when you’ve got room to expand like that and and gives you the flexibility and the levers down the road

To really scale up or down I guess depending on the price of Bitcoin so um I like that approach I’m glad that we had some questions about that as well now the next one is in term of terms of near-term catalyst for the stock or the company we’ve talked about the ex ahash

Growth we’ve talked about some of the alternate revenue streams is there anything else are that maybe we’re missing here or that should be on people’s radar yeah I mean I think we touched upon this early the only piece I that is you know the the pay down on the

Debt right again we generated $14 million of cash flow in the fourth quarter last year um that was at five a hash of self mining know we’re going to be at 7.9 a hash of self mining here within the next couple weeks um we do have the having coming um but you know

That’s kind of a second quarter event and so again in the first quarter of this year we should be generating you know an excess of that amount of free cash flow in the business and so the business is generating a a a a fair amount of free cash flow and so in

Looking at that free cash flow number I think it’s also important to kind of put that in the context of the Quantum of debt and again we think you know the amount that we have is very manageable you know once especially on once we get to that 10x hash level the ability for

That debt to be paid down in a relatively short period of time given kind of that 10x a hash with the economics that we have you know we’ve got you know some of the lowest cost of power we have a very efficient Fleet of Miners And so once you put those things

Together we think the business you know in of itself will be able to pay down in a fair amount of that that debt so that’s one kind of component to it the second as you mentioned is just the growth you know we you know we have the

Ability to grow um again Lake Mariner we think is a tremendous um site we are targeting to have about 250 megawatts of capacity operational at that site by year end um and then 500 megawatt of capacity operation you know at that site by year in 25 and so if you start to put

Those numbers together um you know we’re not you know we should you know get from that 10 ex aash you know to the high 20s you know by the end of 2025 and so that’s the other thing that I think you know people may not fully appreciate is

Just the amount of embedded uh growth that we have built in again we haven’t really um announced a clear plan on that part of it is just you know things take time but the other piece of it is is just um kind of you know we’ve been

Stepping through things and and you know the thing I like to tell people is kind of going from zero to 5x a hash is more difficult than going from 5 to 25 and so now that we’ve kind of crossed that five you know xash threshold I think you know

Our ability to go from 5 to 25 is going to be you know that much easier just given you know all the work that’s gone to it yeah it’s exactly like we just talked about with the learn and replicate model right and the the other thing that’s really nice about uh Tera

Wolf is the the vertical integration we’re starting to see some of the bigger players now kind of shift towards that strategy as well which is great you already have that in place um the other thing that a lot of people I think don’t understand is yes the having’s coming up

It’s going to make uh the block size or block reward um less fruitful or cut in half but with transaction fees the way they are right now there’s a big offset and the other thing is depending on the price of Bitcoin you’re either going to have a high price of Bitcoin and a

Higher Global hash rate difficulty or a lower price of Bitcoin but then you’re going to have a lower overall difficulty so there are a couple other variables there in isar and and I’m sure you guys are well aware of them but I think some of the maybe the retail investor folk

Just feel like the having is is the end all be all when there’s some other Dynamics there yeah and it’s interesting R if you look at calendar 2023 we had uh you know two periods where transaction fees uh really were a significant driver of Revenue you know kind of in the May

June time frame earlier in the year and then towards the tail end of the year and if you look at you know what that meant in terms of a percentage of block reward kind of over the course of the entire year um you know that number was

I would say you know three to four times you know what general forecasts were kind of in the beginning of calendar 2023 right so if you had to ask you know most endless early in 2023 what’s your forecast for transactions fees for all of 2023 they would have given you

Something like two to two and a half% and you know over the calendar 23 we ended up at multiples of that so to your point I mean there are different lever here within the business um what makes you know this business I think kind of both fun and also challenging is you

Know between the network hash rate price of Bitcoin what’s happening on a macro scale with respect to power right I mean things happening on a macro scale do have an impact on gas which has an impact on the price of power um and then with respect to now how that base layer

The Bitcoin layer has being used you know with respect to you know transaction fees ordinals and different things like that I mean you have a number of different opportunities here and so that’s why we remain extremely constructive on bitcoin um you know we’re talking about the ETFs people are

Generally disappointed a week out but I say hey we’re literally one week out and so the real value or kind of driver that we see over time is is that there’s going to be a significantly wider breath of an investor base looking at Bitcoin and investing into Bitcoin and that

Doesn’t happen in one day or one week it happens over months and even years right and so I think that really starts to build upon itself and that’s where we again we continue to believe that scaling our business and being a critical and core component of the

Overall Network hash rate is you know is an extremely valuable Endeavor given the role that we see kind of Bitcoin playing more broadly as well yeah I couldn’t agree more and and you hit the nail on the head with with the amount of variables and Dynamics in this industry

Plus politics and geopolitical stuff and uh Wall Street and all the rest it it’s nearly impossible to uh to predict and understand all the different influences but it it does Keep It Fun it does keep it interesting to your point so uh great discussion today I really appreciate the

Time as always I’ll kick it back to you for any closing thoughts but um very enlightening and and I appreciate the uh discussion no thank you and thanks for you know for all the work that you and Anthony do um and we’re excited you know

2023 was as I said you know we kind of ramped up meaningfully in 2023 and we’re expecting um you know similar you know rap in 2024 and you know there’s number of different things you know on the front on our side and so over the course of

The Year we hope to you know to roll those out so we appreciate you know again all the work that you do and you know all we appreciate you know all the support that we do have as you said you know we’ve got a a decent following and

So all of you know our supporters shareholders out there you know also you know thank you and you know we’ll continue to you know every day kind of get at it and hopefully Can Build and Grow this business awesome uh Wolfpack that’s what we’re calling them known as

Our Wolfpack feel free to leave a comment below if you guys aren’t subscribed to the channel feel free to join the Community we’d love to have you and we’ll see you in the next video thanks Mazar thank you Bryce