Terawulf Unveils Profits from Bitcoin Mining at Nuclear-Powered Facility

Terawulf Inc. (WULF) recently announced its mining profitability. Benefiting from a five-year agreement, the company posted a gross margin of 63%.

The company operates with 50 MW, housing 16,000 self-miners. They are based at the Nautilus Cryptomine facility in Pennsylvania. Notably, this facility is the first to use nuclear power for Bitcoin mining.

The power cost at the Nautilus facility is a meager $0.02/kWh. This low cost, combined with the agreement, contributes to Terawulf’s impressive gross margin.

Moreover, Terawulf plans to expand its mining capacity by an additional 50 MW. This expansion will make the Nautilus Cryptomine potentially one of the largest carbon-free mines in North America. The facility’s total capacity may reach up to 300 MW.

In a recent monthly update, Terawulf revealed its current electricity cost is about $0.028/kWh. This slight increase in cost still boosted the gross margin to an enviable 77%.

In conclusion, Terawulf is successfully leveraging nuclear power for profitable Bitcoin mining. This strategy is making the company a potential leader in carbon-free mining in North America.