TeraWulf Boosts Bitcoin Mining Output by 35% 

TeraWulf Inc., a leading Bitcoin mining company, has reported a 35% increase in Bitcoin mining in May. The company mined 323 BTC, pushing its total yield to 1,094 BTC this year.

This growth results from a 13% increase in hash rate capacity, now at 4.4 EH/s. As a result, TeraWulf produced an average of 10.4 Bitcoin per day in May. The cost of power averaged $6.2k per Bitcoin, or about $0.028/kWh.

TeraWulf currently operates a fleet of 36,000 miners. They are split between the Lake Mariner facility in New York and the nuclear-powered Nautilus facility in Pennsylvania. The company has recently begun operations in a new building at the Lake Mariner facility.

Kerri Langlais, TeraWulf’s Chief Strategy Officer, celebrated the company’s increased hash rate. This improvement counterbalanced the increased network difficulty in May. She also noted the low cost of power and high availability, contributing to steady profit margins.

TeraWulf is nearing the end of miner installation in Building 2 at Lake Mariner. This expansion will add 50 MW of self-mining capacity, bringing the company’s total to 160 MW and 5.5 EH/s.

In closing, TeraWulf is making strides in sustainable, low-cost Bitcoin mining. The company is set to increase its operational capacity to 50,000 miners in Q2 2023. 

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