Terawulf Inc. (NASDAQ: WULF) has made a significant stride in debt reduction, announcing the repayment of an additional $30.1 million of its term loan, which has brought the debt balance down to $75.9 million. This repayment follows a previous repayment of approximately $40 million over the past six months, demonstrating the company's commitment to reducing its debt burden.
At the current approximate $70,000 bitcoin price, Terawulf expects its industry-leading economics to result in a fully loaded cost to mine a bitcoin of just $37,000 post-halving, allowing for rapid debt extinguishment. The company's focus on cost efficiency is further underscored by its proprietary cost-to-mine calculator, available on its website.
Terawulf's efforts in debt reduction have been accompanied by a commitment to using profits for organic growth, potential dividends, or share buybacks to benefit shareholders once the outstanding debt has been settled.
As a company that owns and operates environmentally clean bitcoin mining facilities in the United States, Terawulf's focus on utilizing 100% zero-carbon energy resources, including nuclear, hydro, and solar, ties directly to its business success and its core focus on environmental, social, and governance (ESG) principles.
As a result of these announcements, the company's shares have moved -0.8% on the market, and are now trading at a price of $2.35. For more information, read the company's full 8-K submission here.
