Summary by Moomoo AI
TeraWulf Inc. has addressed the comments from the U.S. Securities and Exchange Commission (SEC) regarding its Amendment No. 2 to the Registration Statement on Form S-3, originally filed on January 16, 2024. The SEC's comments, received on January 31, 2024, prompted TeraWulf to revise its disclosures, particularly concerning the breakeven analysis of its mining operations and the impact of hardware purchasing costs. The company has acknowledged the substantial expense of purchasing mining equipment, which is significant due to the equipment's four-year useful life and associated depreciation costs, as highlighted in their Form 10-Q/A for the quarter ended September 30, 2023. In response, TeraWulf has filed Amendment No. 3 to the Registration Statement, reflecting the revisions made in response to the SEC's feedback. The updated disclosures can be found under the 'Business Overview' section on pages 9 and 10 of the amendment. Stefanie Fleischmann, Chief Legal Officer of TeraWulf, has communicated the company's compliance and readiness to assist further with the SEC's review process.