TeraWulf Inc. (WULF), which owns and operates vertically integrated, domestic Bitcoin mining facilities powered by more than 91% zero-carbon energy, confirmed that it does not hold any cash or maintain any accounts at Silicon Valley Bank (SIVB) or Silvergate Capital (SI), and considers its exposure to any liquidity concerns at Signature Bank to be immaterial. TeraWulf currently holds approximately $250,000 in cash deposits at Signature Bank, which is the FDIC-insured limit, with the balance of the company’s bank deposits held at other financial institutions.
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Published first on TheFly
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Read More on WULF:
- TeraWulf self-mines 143 bitcoin in February
- TeraWulf energizes half of 50-MW stake in the Nautilus Cryptomine facility
- TeraWulf price target lowered to $2 from $5 at B. Riley
- TeraWulf reports 157 bitcoin self-mined in January vs. 125 in December
- TeraWulf CEO says ‘priority continues to be reducing costs’
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