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

Power Mining Analysis

Content provided by Anthony Power & Bryce McNallie, Anthony Power, and Bryce McNallie. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Anthony Power & Bryce McNallie, Anthony Power, and Bryce McNallie or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://ppacc.player.fm/legal.

12d ago 59:37

MP3•Episode home

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

Chapters

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)

393 episodes

#Trading #Business #Anthony Power & Bryce McNallie #Anthony Power #Bryce McNallie