BBX: Alcoa smelter sale negotiations confirmed, TeraWulf completes $1 billion financing

BBX News: Aluminum giant Alcoa has confirmed it will monetize a 1,300-acre industrial site in New York as a Bitcoin mining facility; TeraWulf has completed $1 billion in equity financing, with over half of its Q1 revenue derived from HPC hosting, marking a key validation of the mining company's transformation towards a computing infrastructure operator revenue structure. Key points: —Alcoa: The CEO has confirmed that an agreement with an exchange for the sale of the Massena East aluminum plant is “near,” with completion expected by mid-year; the exchange already has actual operational presence at the site through a certain exchange; Q1 revenue was $3.19 billion, with share price down 5.9%. —TeraWulf: On April 16, completed an issuance of 54,510,000 shares at $19.00, netting approximately $1 billion; Q1 revenue reached $30–35 million, with over 50% from HPC hosting, cash on hand at $310 million, and a $250 million credit line pending signature. Source: bbx.com