Dillon Heslin's questions to Terawulf Inc (WULF) leadership • Q3 2024
Question
On behalf of Darren Aftahi, Dillon Heslin asked about the expected delay between HPC facility construction completion and revenue generation, and for a comparison of the long-term economics of bitcoin mining versus HPC hosting.
Answer
CFO Patrick Fleury stated that for 2025 financial modeling, the company assumes CB-1 will generate revenue for nine months and CB-2 for six months. He explained that HPC hosting offers a stable margin of around $100 per megawatt-hour, whereas bitcoin mining profitability is highly volatile, depending on both bitcoin price and network hash rate. He confirmed the next 500 MW of expansion is dedicated to HPC.