Source: Streetwise Reports 11/06/2024

Terawulf Inc. (WULF:NASDAQ) has reported its October 2024 production and operations. The report included significant advancements in self-mining with an operational capacity reaching 8.1 exahash per second (EH/s). This marks a 62% increase from the prior year. The company mined a total of 150 bitcoins during the month, averaging approximately 4.8 bitcoins per day, at a power cost of US$36,789 per bitcoin mined or about US$0.048 per kWh (kilowatt-hour). To improve efficiency, TeraWulf continued its miner refresh program at its Lake Mariner facility, replacing older models with upgraded S19 XP miners following its sale of interest in the Nautilus Cryptomine facility, which enabled additional hardware acquisitions.

Focusing on high-performance computing (HPC) infrastructure, TeraWulf's aim is to establish 72.5 MW HPC hosting capacity at Lake Mariner by Q2 2025. October's operational hash rate averaged 6.8 EH/s, with adjustments made for demand response events and performance optimization measures to enhance profitability. Construction on the company's 20 MW HPC hosting facility, CB-1, remains on schedule for Q1 2025, and a larger 50 MW HPC facility, CB-2, is expected by Q2 2025. The recent sale of TeraWulf's equity interest in Nautilus and new financing through convertible notes are anticipated to support these growth initiatives.

Sean Farrell, Senior Vice President of Operations at TeraWulf, explained in the press release, "October marked another productive month, with TeraWulf mining 150 bitcoin and sustaining an average daily production of around 5 bitcoin . . . In line with our previously outlined plans, we are accelerating the transition to more efficient mining hardware by replacing older miners at Lake Mariner with S19 XP models. We are also working closely with Bitmain's warranty department on a recovery plan to repair and replace 1.5 EH of mining equipment with a target completion by the end of the year. Furthermore, we have established a dedicated Business Development and Performance Optimization team focused on integrating advanced IT and software solutions to improve our operational hash rate and overall efficiency. Building 5, which has been designed to handle higher heat exhaust of the latest generation miners, remains on track to be operational in Q1 2025."

Why Crypto Mining?

The cryptocurrency mining sector has seen recent momentum, bolstered by the U.S. election results and the evolving landscape for Bitcoin. As Benzinga reported on November 6, bitcoin mining stocks experienced notable gains following the U.S. presidential election, which led to Bitcoin reaching record highs. The outcome was anticipated to benefit U.S.-focused mining companies as pro-crypto policies, including a preference for domestic bitcoin production, gained prominence. Benzinga noted that Trump had previously expressed support for more bitcoin mining within the U.S., a stance that influenced broader market optimism in the days following his election.

On November 4, Yahoo! Finance highlighted the growing trend among Bitcoin miners to integrate artificial intelligence (AI) to power a "new industrial revolution." As described by Rob Nelson, who emphasized the impact of cryptocurrency mining as a vehicle for both economic and technological change. This trend has driven miners to secure deals within the AI sector, given the synergies in computational power required for both cryptocurrency and AI initiatives. Nelson projected that this cross-industry expansion could have far-reaching effects, creating value for both miners and AI-focused enterprises.

Additionally, a November 6 report from Time explored the significance of the recent Presidential election outcome for the crypto industry's future regulatory environment. According to Time, Trump's support for the industry included ambitions to boost the country's bitcoin mining footprint, which aligned with crypto PACs' efforts to secure pro-crypto candidates. The article reported that these advocacy groups saw the election as an opportunity to reshape crypto regulation and encourage growth in U.S.-based bitcoin mining.

TeraWulf's Catalysts

TeraWulf's recent initiatives set a foundation for further growth and operational efficiency. According to the company's investor presentation, the sale of its 25% equity interest in the Nautilus facility enhances liquidity. This enables TeraWulf to reinvest in its flagship Lake Mariner site for both HPC and AI expansion.

The transaction also reduces exposure to the expiring Nautilus 2¢ power contract by 2027, positioning the company to benefit from projected power price increases at Lake Mariner. This strategic realignment is anticipated to improve fleet efficiency, with an upgraded mining fleet targeting 13 EH/s by Q1 2025, supported by the deployment of next-gen S21 Pro miners.

What Experts Are Saying...

On November 5, 2024, Roth MKM analyst Darren Aftahi assigned TeraWulf a "Buy" rating and set a price target of US$7.50. Roth highlighted optimism around the company's expansion and potential in high-performance computing (HPC) and bitcoin mining. Roth noted that TeraWulf's planned 72.5 MW of HPC capacity by Q2 2025 could generate annualized revenue of approximately US$90 million, with over US$60 million in profit. [OWNERSHIP_CHART-11184]

The report highlighted the completion of TeraWulf's initial 2.5 MW HPC project and its upcoming 20 MW facility, which remains on track for Q1 2025. Roth analysts pointed to the operational progress at TeraWulf's Lake Mariner facility, emphasizing the company's improvements in mining efficiency with new S19 XP models, which brought its machine efficiency to 22 J/TH.

Ownership and Share Structure

According to Refinitiv, management and insiders hold 6.67% of TeraWulf. Of them, Co-founder, COO, and CTO Nazar M. Khan holds the most, with 4.43%.

Strategic investors hold 21.37%. Of them, Riesling Power LLC holds the most at 5.23%, Baryshore Capital LLC holds 4.77%, Revolve Capital LLC has 4.67%, Opportunity Four of Parabolic Ventures owns 2.46%, and Lake Harriet Holdings LLC has 1.90%.

Institutions have 45.11%. The largest holders there are The Vanguard Group at 6.12%, BlackRock Instituional Trust with 4.22%, Two Sigma Investments LP at 2.28%, Beryl Capital Management LLC holds 1.74%, and Geode Capital Management LLC has 1.66%. The rest is retail.

TeraWulf has a market cap of US$2,375.93 million and 275.29 million free float shares. Their 52-week range is US$ 0.8911 - 7.28.
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People rest while riding a Los Angeles Metro Rail train amid the coronavirus pandemic on April 1, 2020 in Los Angeles, California.; Credit: Mario Tama/Getty Images

Despite the racial reckoning going on in America right now, and despite the fact that attitudes towards race, inclusion and representation are different now than they were 30 years ago, new research from UC Berkeley shows that a large majority of American metro areas are more segregated now than they were in 1990. The new report from Berkeley’s Institute covers a number of topic areas, but among the key findings were from the national segregation report component of the project, which found Los Angeles to be the sixth-most segregated metro area with more than 200,000 people.

Today on AirTalk, we’ll talk with the lead researcher on the new report and a local historian to talk about how we see the findings of the report play out in Southern California.

Guests:

Stephen Menendian, assistant director and director of research at the Othering & Belonging Institute at UC Berkeley, which works to identify and eliminate the barriers to an inclusive, just, and sustainable society in order to create transformative change; he tweets @SMenendian

Eric Avila, professor of history, urban planning, and Chicano/a studies at UCLA

This content is from Southern California Public Radio. View the original story at SCPR.org.

"This is a petty, partisan power grab that is absolutely retaliation towards my office," Arizona Democratic Secretary of State Katie Hobbs says of the new law.; Credit: Ross D. Franklin/AP

Arizona Republicans have stripped the secretary of state's office — currently held by a Democrat — of the right to defend the state's election laws in court, or choose not to, a change enacted as part of Arizona's newly signed budget.

The spending blueprint that Gov. Doug Ducey signed into law Wednesday declares that the attorney general — currently a position occupied by Republican Mark Brnovich — has sole authority over election-related litigation.

If the secretary of state and attorney general were to disagree over a legal strategy when Arizona election laws are challenged, the new law states that "the authority of the attorney general to defend the law is paramount."

Republicans also adopted language stating it's their intent for the law to apply through Jan. 2, 2023, coinciding with the end of Democrat Katie Hobbs' term as secretary of state.

Hobbs, the top election official in Arizona who's now running for governor, says her lawyers are looking at whether this change violates the Arizona Constitution.

"This is a petty, partisan power grab that is absolutely retaliation towards my office," Hobbs said. "It's clear by the fact that it ends when my term ends. ... It is at best legally questionable, but at worst, likely unconstitutional."

Republicans have generally cast the law as a cost-saving measure, citing Hobbs and Brnovich's frequent disagreements over how to defend state election laws that have been challenged in court. In 2020, Hobbs filed complaints with the state bar against Brnovich and other lawyers in his office.

Other election provisions in the budget

The budget includes a number of other election provisions, and it comes weeks after Republicans enacted new restrictions on early voting in the state, and as a controversial review of 2020 election results in Maricopa County continues.

Here are some of the other election-related measures in the budget:

• New laws could soon require watermarks, QR codes and other security measures to be printed on ballots.
• There's a new mandate to inspect state and county voter registration databases and create a report on voters who cast federal-only ballots — an option available to Arizonans who don't show proof of citizenship to register to vote in the state, but are still allowed to register under federal law.
• And a new task force would investigate alleged social media bias as an unreported in-kind political contribution.

The ballot security measures, though not mandated by law in the budget, have the potential to be the most cumbersome and costly requirement for county election officials to implement.

The budget amendment provides a list of 10 "ballot fraud countermeasures" for counties to choose from — features like holographic foil, background designs similar to those found on banknotes and ultraviolet or infrared ink. If mandated, counties would have to implement any combination of at least three features from the list on their ballots. The budget provides $12 million to pay for those features, to be split among Arizona's 15 counties.

"By everyone's admission, there is only one company that can do any of this," said Jennifer Marson, executive director of the Arizona Association of Counties. "And so now, we can't have a competitive bid process or a traditional procurement process at the county or state level to use these countermeasures because we're locked into one company."

That company is Authentix, a Texas-based firm that provided Republican Rep. Mark Finchem with a sample ballot that included watermarks, QR codes and other security measures. Finchem had the sample ballot on display at the Capitol in March. According to the Yellow Sheet Report, it could be five times more expensive to print ballots with those security measures as it is to print paper ballots currently in use.

Marson said Finchem has acknowledged the security levels required of companies in the budget amendment could only be met by Authentix, and has vowed to mandate the ballot security measures in the "very near future."

Finchem defended the company in a brief email. He wrote that Authentix "offers these countermeasures to governments around the world for document and tax stamp security."

As the budget was being considered, Democrats like Sen. Tony Navarrete said the amendment is part of a broad effort to solidify conspiracy theories of election fraud.

"It's important for us to make sure we vote down conspiracy-laced amendments that are going to hurt the integrity of our election system in the state of Arizona and encourage other states to have these bad copycat laws spread like wildfire," he said.

This content is from Southern California Public Radio. View the original story at SCPR.org.

On-Demand Webinar > Watch Now!SPONSORED BY: Juniper NetworksWatch this FREE on-demand webinar to hear the experts walk you through the 10 most famous outages and how to make sure you avoid anything...

Cars make their way toward downtown Los Angeles on April 22. California could regain the right to set its own vehicle emissions standards after the Environmental Protection Agency announced it was moving to curb a Trump-era policy that sought to erode the state's previously-held power.; Credit: Mario Tama/Getty Images

The Environmental Protection Agency (EPA) said on Monday it is preparing to restore California's right to set its own vehicle emissions standards, in a widely anticipated reversal of Trump-era policies.

The decision, which will take several months to be finalized, reaffirms the Golden State's powerful position as an environmental regulator after the Trump administration had in 2019 sought to remove California's powers to set its own emissions standards.

It also sets the stage for negotiations over how strict federal vehicle standards will be under President Biden.

"I am a firm believer in California's long-standing statutory authority to lead," EPA administration Michael Regan said in a statement.

"The 2019 decision to revoke the state's waiver to enforce its greenhouse gas pollution standards for cars and trucks was legally dubious and an attack on the public's health and wellbeing," he added.

The EPA will be accepting public comment until July 6 as part of the process of reversing the Trump-era rule.

The populous, car-loving state has been waging a battle against smog for decades.

And in recognition of that history, the EPA has long granted a waiver giving the state the authority to set its own standards for vehicle emissions, as long as they're more stringent than the national regulations.

That's an unusual exemption — other states can't set their own policies, although they can choose to adopt California's standards as their own.

Between California and the states that follow suit, about a third of the U.S. new car market is covered by the Golden State's policies, giving California regulators a remarkable amount of sway over the auto industry.

However, when the Trump administration weakened federal clean car standards, it also sought to revoke the waiver allowing California to set a higher bar.

That triggered a legal battle and divided the auto industry, with some carmakers choosing to side with California and voluntarily accept somewhat stricter vehicle emissions standards while the rest backed the Trump administration.

After Biden won the White House, every major automaker eventually dropped their support for the now-doomed Trump position.

The EPA has now started the process of reversing Trump's decision. The Department of Transportation last week also proposed to "wipe clean the regulatory slate," indicating that the National Highway Traffic Safety Administration would no longer seek to block state emissions standards, as it had under Trump.

It's still not clear what federal regulations on vehicle emissions and fuel economy will be under the Biden administration. Some environmental groups and progressive lawmakers are pushing for the reinstatement of the Obama-era standards, with more ambitious targets to follow.

The auto industry, meanwhile, is calling for standards midway between the Obama-era and Trump-era policies.

The EPA says it will propose new fuel economy rules in July.

This content is from Southern California Public Radio. View the original story at SCPR.org.

An American flag flies from a crane on July 4th next to the Champlain Towers South condo building, where scores of victims remain missing more than a week after it partially collapsed.; Credit: Lynne Sladky/AP

Preparations continue in Surfside, Fla. for the demolition of a portion of the Champlain Towers South still standing after much of the building collapsed in the early morning hours on June 24.

Miami-Dade County Mayor Daniella Levine Cava told reporters on Sunday that bringing down the remainder of the collapsed condominium in a controlled fashion is crucial to the safety of search and rescue teams.

Those teams have paused their work so demolition can take place. Levine Cava said officials are still unsure of a specific time that the demolition will occur.

"Our top priority is that the building can come down as soon as possible — no matter what time that occurs — and safely as possible," Levine Cava said at a morning news conference.

The number of confirmed dead from the collapse remains at 24. The number of people unaccounted for remains at 121.

Preparations for the demolition come as Tropical Storm Elsa is tracking towards southern Florida. The storm is expected to hit the area Monday and Tuesday.

The instability of the building could be made worse by the storm, which is expected to bring strong winds and rain at the beginning of the week. Mayor Levine Cava said that as soon as the demolition has occurred, search and rescue efforts are expected to resume.

Ahead of Elsa's arrival in Florida, Gov. Ron DeSantis issued a state of emergency Saturday for 15 counties, including Miami-Dade.

On Sunday, he expressed optimism that the Surfside area may be spared from the worst of the storm.

"We could see some gusts, but it has tracked west over the last day and a half — more so than the initial forecast," he said. "So, we'll just keep watching that."

This content is from Southern California Public Radio. View the original story at SCPR.org.

As of January 2, 2010 restaurants, bars and other businesses that serve food and drink in Catawba County became smoke-free. Many health advocates and local residents are pleased that they can now enjoy a healthier dining experience. The ban is a result of a new law that prohibits smoking in all restaurants and bars across North Carolina.

Representatives from Public Health�s Women, Infants and Children program will be attending the upcoming Family Fair at Catawba Valley Community College (CVCC) April 16 from 10:00 a.m. to 2:00 p.m. to provide information and schedule appointments for families who qualify for WIC assistance.

The committee compiled existing information about the status of children in the county. It also held public meetings and surveyed members of the public about their priorities and ideas. The committee found that most children in the county are well-cared for, but that a substantial number are falling through the cracks. A major cause of concern is the large number of children living in poverty.

The program of the North Carolina Department of Transportation provides limited funds for low-income persons who need to maintain or insure their car so they can continue working. It is administered by Catawba County Social Services

The EcoComplex is a system that recovers all useable products and by-products from a group of private and public partners located in a close-knit defined area. This group of partners works together to use each other�s waste products either as a source of energy (electricity, steam, or heat) or as a raw material for the production of their own product (pallets, lumber, compost, brick shapes/art). The EcoComplex is also focused on making and using �green� energy and on economic development.

A delegation of high school students representing the Catawba County Youth Council and 4-H attended NC Citizenship Focus, which was held in Raleigh, where more than 200 youth and adults representing over 75 counties exchanged ideas, gained knowledge and learned through hands on experiences about the different levels and branches of government.

Catawba County Public Health's annual report, emergency preparedness outreach have won national honors from the National Association of County Information Officers.

Annual Financial Report for Fiscal Year 2012-2013 shows Catawba County improved its financial position with conservative approach.

Evidence exists linking three cancers and two other health problems with chemicals used in herbicides in the Vietnam War, a committee of the Institute of Medicine (IOM) has concluded.

The explosive growth of information technology is having a profound impact on our lives.

Representatives from academies and research organizations around the world sent messages of condolence and support to members, officials and staff of the U.S. National Academies in the wake of terrorist attacks on the World Trade Center and the Pentagon. The following are excerpts from some of these messages.

The United States should ban human reproductive cloning aimed at creating a child.

To meet the bodys daily energy and nutritional needs while minimizing risk for chronic disease, adults should get 45 percent to 65 percent of their calories from carbohydrates, 20 percent to 35 percent from fat, and 10 percent to 35 percent from protein.

Government authorities in the United States and Canada should use the current Dietary Reference Intakes (DRIs) to update nutrition information on food and dietary supplement labels so that consumers can compare products more easily and make informed food choices based on the latest science, says a new report from the Institute of Medicine of the National Academies.

The vast majority of healthy people adequately meet their daily hydration needs by letting thirst be their guide, says the newest report on nutrient recommendations from the Institute of Medicine of the National Academies.

Nearly half of all American adults – 90 million people – have difficulty understanding and using health information, and there is a higher rate of hospitalization and use of emergency services among patients with limited health literacy, says a new report from the Institute of Medicine of the National Academies.

Based on a thorough review of clinical and epidemiological studies, neither the mercury-based vaccine preservative thimerosal nor the measles-mumps-rubella (MMR) vaccine are associated with autism, says a new report from the Institute of Medicine of the National Academies.

Medication errors are among the most common medical errors, harming at least 1.5 million people every year, says a new report from the Institute of Medicine of the National Academies.

Although most people who receive and manage Social Security benefits on behalf of other individuals perform their duties well.

Each year, tens of millions of Americans, young and old, choose to learn about science in informal ways -- by visiting museums and aquariums, attending after-school programs, pursuing personal hobbies, and watching TV documentaries, for example.

A growing amount of scientific evidence indicates that how much weight women gain during pregnancy and their starting weight at conception can affect their health and that of their babies, says a new report from the Institute of Medicine and the National Research Council.

A new report from the National Research Council examines and, when possible, estimates hidden costs of energy production and use.

A new report from the National Research Council lays out options NASA could follow to detect more near-Earth objects (NEOs) – asteroids and comets that could pose a hazard if they cross Earths orbit.

Most Americans and Canadians up to age 70 need no more than 600 international units (IUs) of vitamin D per day to maintain health, and those 71 and older may need as much as 800 IUs, says a new report from the Institute of Medicine.

Every year, approximately 100 million* adult Americans experience chronic pain, a condition that costs the nation between $560 billion and $635 billion annually, says a new report from the Institute of Medicine.

A report released today by the National Research Council presents a new framework for K-12 science education that identifies the key scientific ideas and practices all students should learn by the end of high school.

A new report from the Institute of Medicine (IOM) recommends that eight preventive health services for women be added to the services that health plans will cover at no cost to patients under the Patient Protection and Affordable Care Act of 2010 (ACA).

An analysis of more than 1,000 research articles concluded that few health problems are caused by or clearly associated with vaccines.

A new data network that integrates emerging research on the molecular makeup of diseases with clinical data on individual patients could drive the development of a more accurate classification of disease and ultimately enhance diagnosis and treatment, says a new report from the National Research Council.

Americas progress in arresting its obesity epidemic has been too slow, and the condition continues to erode productivity and cause millions to suffer from potentially debilitating and deadly chronic illnesses.

Educational and business leaders want todays students both to master school subjects and to excel in areas such as problem solving, critical thinking, and communication

The U.S. electric power delivery system is vulnerable to terrorist attacks that could cause much more damage to the system than natural disasters such as Hurricane Sandy, blacking out large regions of the country for weeks or months and costing many billions of dollars, says a newly released report by the National Research Council.

A review of the available evidence underscores the safety of the federal childhood immunization schedule, says a new report from the Institute of Medicine.

A new report from the Institute of Medicine and National Research Council proposes priorities for a research agenda to improve understanding of the public health aspects of gun-related violence, including its causes, health burden, and possible interventions.

Current federal tax provisions have minimal net effect on greenhouse gas emissions, according to a new report from the National Research Council.

Rates of physical and sexual abuse of children have declined over the last 20 years, but for reasons not fully understood, says a new report from the Institute of Medicine. Yet, reports of psychological and emotional child abuse have risen in the same period, and data vary significantly as to whether child neglect is increasing, decreasing, or remaining constant.

Young athletes in the U.S. face a culture of resistance to reporting when they might have a concussion and to complying with treatment plans.

Given the minimal impact of long prison sentences on crime prevention and the negative social consequences and burdensome financial costs of U.S. incarceration rates, which have more than quadrupled in the last four decades, the nation should revise current criminal justice policies to significantly reduce imprisonment rates, says a new report from the National Research Council.

A new report from the National Research Council has upheld the listing of styrene as “reasonably anticipated to be a human carcinogen” in the National Toxicology Program’s 12th Report on Carcinogens (RoC).

A new report from the National Research Council recommends best practices that law enforcement agencies and courts should follow to improve the likelihood that eyewitness identifications used in criminal cases will be accurate.

Young adults ages 18-26 should be viewed as a separate subpopulation in policy and research, because they are in a critical period of development when successes or failures could strongly affect the trajectories of their lives, says a new report from the Institute of Medicine and National Research Council.

Myalgic Encephalomyelitis/Chronic Fatigue Syndrome -- commonly referred to as ME/CFS -- is a legitimate, serious, and complex systemic disease that frequently and dramatically limits the activities of affected individuals, says a new report from the Institute of Medicine.

There is no substitute for dramatic reductions in greenhouse gas emissions to mitigate the negative consequences of climate change, a National Research Council committee concluded in a two-volume evaluation of proposed climate-intervention techniques.

Cardiac arrest strikes almost 600,000 people each year, killing the vast majority of those individuals, says a new report from the Institute of Medicine. Every year in the U.S., approximately 395,000 cases of cardiac arrest occur outside of a hospital setting, in which less than 6 percent survive.