Bitcoin Miner TeraWulf to Merge With Nasdaq-Listed Ikonics

Bitcoin Miner TeraWulf to Merge With Nasdaq-Listed Ikonics

ESG-focused bitcoin mining company TeraWulf agreed merge with Nasdaq-listed imaging technology company Ikonics.

  • The two entered into an agreement to merge under a new holding company, an announcement Friday said.
  • The new firm will bear TeraWulf's name and is expected to trade on Nasadaq under the ticker "WULF."
  • TeraWulf aims to mine bitcoin with over 90% zero-carbon energy. It has over 60,000 miners on order giving it 50 MW mining capacity, which it expects to grow to 800 MW by 2025, enabling over 23 EH/s hashrate.
  • Ikonics has a market cap of $22.3 million.
  • Source