Gwyneth Paltrow, an American actress, and businesswoman took part in a funding round for Terawulf, a bitcoin mining company. According to reports, Paltrow and a group of investors reportedly made a “substantial, 8-digit equity investment” in the company. Paltrow is well-known for her cryptocurrency involvement, having joined the crypto firm Abra as an advisor in 2017.
Gwyneth Paltrow Joins ‘8-Digit Equity Investment’ in Terawulf’s Bitcoin Mining Operation
Terawulf CEO Paul Prager tweeted on December 13 that Gwyneth Paltrow had invested in his bitcoin mining operation. “We’re ecstatic that Gwyneth Paltrow, among others, has invested in Terawulf and backed our team of energy entrepreneurs’ new paradigm for best-in-class [crypto mining] that uses 100 percent zero-carbon energy,” Prager said. According to reports, investors such as Paltrow and Moj Mahdara, the Iranian-American CEO of Beautycon Media, “made a substantial, 8-digit equity investment in Terawulf.”
Terawulf is undergoing a reverse merger with Ikonics, according to Joshua Fineman of Seeking Alpha (NASDAQ: IKNX). The publicly traded ticker will be changed to “WULF” as a result of the special purpose acquisition company (SPAC) merger. A number of cryptocurrency companies have used the SPAC method to raise capital via an initial public offering (IPO) to acquire an existing business. Griid, a vertically integrated bitcoin self-mining company, revealed its plans for a public listing on the New York Stock Exchange (NYSE) via a SPAC deal at the end of November.
Paltrow Businesswoman joins Abra as an advisor in 2017 and includes crypto topics in her lifestyle publication. Goop
Gwyneth Paltrow’s investment in Terawulf is not her first foray into the crypto industry; she has previously worked with crypto assets. Paltrow joined Abra as an advisor in the first week of August 2017, according to Abra CEO Bill Barhydt. At the time, Barhydt said of Paltrow, “She has been a huge value add.” “She’s given us valuable business advice and opened up her network to us,” Barhydt added.
Goop, Paltrow’s “conversation-changing lifestyle brand,” and Goop.com, Paltrow’s news publication, published an article on “how to understand—and invest—in cryptocurrency” at the end of August. Paltrow discussed the topic with Sophie Wiberg Holm, a cryptocurrency expert, and entrepreneur. “The rapidly changing landscape of digital currency, how NFTs work, and the long-term upsides of investing in cryptocurrency,” the American actress and Wiberg Holm discussed.
Read more:
Comment Template