TeraWulf Boosts Bitcoin Mining Capacity with 100% Nuclear-Powered Facility in the US

TeraWulf, a Bitcoin mining company, has announced its April 2023 production and operations update. The update reveals a 21% month-over-month increase in hash rate capacity to 4 EH/s.The company mined 239 BTC in April and 771 BTC year-to-date in 2023. TeraWulf has also fully deployed 50 MW of self-mining capacity at the Nautilus facility ahead of schedule, making it the first Bitcoin mining facility in the US powered by 100% nuclear energy.

In April, TeraWulf’s average production rate was 8 BTC per day, and power cost averaged $7.6k per BTC produced, or approximately $0.030/kWh. The company deployed a fleet of 34,500 miners across its Lake Mariner facility in New York and the nuclear-powered Nautilus facility in Pennsylvania. TeraWulf is completing construction on Building 2 at the Lake Mariner facility, where an additional 50 MW of self-mining capacity is set to come online in Q2 2023.

Kerri Langlais, Chief Strategy Officer of TeraWulf, commented on the company’s progress, stating that the increased hash rate offsets the network difficulty, enabling the company to produce more bitcoin month-over-month. Langlais also highlighted the cost-effective power rates and the upcoming energization of Building 2 at Lake Mariner, which will double the size of TeraWulf’s existing operations in New York.

By Q2 2023, TeraWulf expects to have a total operational capacity of 50,000 miners (5.5 EH/s) across its facilities, representing approximately 160 MW of power demand. The company aims to utilize 100% zero-carbon energy, focusing on ESG and offering attractive mining economics at an industrial scale.