• Terawulf has successfully deployed 50 MW or 1.9 exahash per second (EH/s) of hashrate at the Nautilus Cryptomine facility, a carbon-free data center powered by the Susquehanna nuclear generation station in Pennsylvania.
• The bitcoin mining facility benefits from a fixed power cost of $0.02 per kilowatt-hour (kWh).
• Terawulf plans to reach 5.5 EH/s of operational mining capacity in Q2 2023 and is leveraging hydro and solar at its other locations.
Terawulf Deploys 50 MW at Nuclear-Powered Bitcoin Mining Facility
Terawulf, a bitcoin mining company, has announced the full deployment of its 50-megawatt (MW) stake in the nuclear-powered Nautilus Cryptomine facility. This behind-the-meter bitcoin mining facility is powered by 100% nuclear power and benefits from an economical power cost of $0.02 per kilowatt-hour (kWh).
Terawulf Aims to Reach 5.5 EH/s Capacity by Q2 2023
45 days ago, Terawulf energized the Nautilus Cryptomine facility with a zero-carbon data center which has 24/7 baseload power stemming from the Susquehanna nuclear generation station in Pennsylvania. With this launch, the company now has 4 EH/s of hashpower with its 34,500 bitcoin mining devices located at their sites in Lake Mariner, New York and 16,000 application-specific integrated circuit (ASIC) miners located at the Nautilus facility. In addition to this nuclear power source and other hydro and solar sources that are leveraged across their different locations, they also have an option to add another 50 MW which they plan on doing in “future phases” according to their press statement.
Bitcoin Prices Drop Below $29K Per Unit Zone
The news comes during a time when BTC prices have dropped below the $29K per unit zone – down 5.7% over the last seven days – making it so BTC’s average mining costs are higher than current spot market value according to macromicro statistics .
Chairman & CEO Of Terawulf Comments On Milestone
Paul Prager – Chairman & CEO of Terawulf – commented on this milestone saying: “Our team has been working swiftly and diligently to achieve our stated goal of reaching 5.5 EH/s of operational mining capacity in Q2 2023…Deploying 50 MW of mining capacity at the Nautilus facility is an important milestone for the Company…Not only does it represent the first nuclear-powered bitcoin mining facility in US but Terawulf now has opportunity to realize economic advantage of 50 MW zero carbon mining at what is arguably lowest contracted power cost sector – just $0.02/kWh for term five years.“
Terawulf’s successful deployment marks an important milestone for them as they move closer towards reaching their goal of 5.5 EH/s operational capacity within Q1 2023 while reaping economic advantages due to low energy costs associated with clean energy sources such as hydroelectricity and solar energy alongside nuclear power supply used by their Nautilus Cryptomine facilities