TeraWulf, a bitcoin mining company, agreed to go public via a SPAC merger with IKONICS, a developer of photochemical imaging systems. Financial terms were not disclosed. "This transaction provides ideal outcomes for our shareholders, customers and employees. It delivers our shareholders the opportunity to realize a substantial upfront cash payment while continuing to benefit from the value of our legacy imaging business, and provides them with the opportunity to participate in the potential upside of TeraWulf at an exciting time for the cryptocurrency mining space. The agreement will be instrumental in securing the long-term viability of IKONICS's legacy business, allowing it to continue to meet the needs of our customers with a secure supply of our high quality products in addition to continued employment opportunities for our workforce," Glenn Sandgren, IKONICS CEO.