TeraWulf, a cryptocurrency firm, announced Wednesday that shareholders and directors had contributed another $15 million only months after raising $200 million in debt and equity financing, which they announced in December 2021.
TeraWulf is an environmental-focused bitcoin mining company that plans to use the funding to create a way for bitcoin to be mined and powered by nuclear, hydro, and solar energy.
“We are now ramping mining operations at our Lake Mariner facility, with the Nautilus site expected to begin in the second half of the year, and continue to believe that TeraWulf is uniquely positioned to deliver shareholder value as a leading vertically-integrated, environmentally clean bitcoin miner,” said teraWulf CEO Paul Prager.
Gwyneth Paltrow was one of the first people to take part in financing the company that was recently listed on the Nasdaq stock exchange.
Other celebrities have invested, including actresses Mindy Kaling and Lilly Singh, KITH CEO Ronnie Fieg, Beautycon Media CEO Moj Mahdara, and the head of Global Marketing for TikTok, Nick Tran.
“TeraWulf’s ability to raise private capital underscores the attractiveness of bringing a new paradigm for cryptocurrency mining to the public markets,” Paul Prager said.