• TeraWulf Inc. has energized roughly half of its 50-MW stake in the Nautilus Cryptomine facility, a joint venture with Cumulus Coin, LLC.
• The Nautilus facility is the first behind-the-meter bitcoin mining facility powered by 100% nuclear power at scale in the U.S., with a fixed power cost of $0.02/kWh for five years.
• TeraWulf is currently expanding operations at its Lake Mariner facility in New York to increase capacity from 60 MW to 110 MW.
TeraWulf Energizes Nautilus Facility in Pennsylvania
TeraWulf Inc (Nasdaq: WULF) announced that it has energized roughly half of its 50-MW stake in the Nautilus Cryptomine facility, a joint venture with Cumulus Coin, LLC. This marks the first behind-the-meter bitcoin mining facility powered by 100% nuclear power at scale in the U.S., and benefits from a fixed power cost of $0.02/kWh for five years.
8,000 Miners Already Online
Currently, 8,000 miners have already been brought online across this 50-MW stake representing a hash rate capacity of approximately 1.0 EH/s (exahash per second). The Company plans to bring an additional 8,000 miners online during the coming weeks and expects full deployment – 1.9 EH/s – by May 2021.
Lake Mariner Facility Expansion
In addition to ramping up operations at Nautilus Facility, TeraWulf is also expanding bitcoin mining operations at its wholly owned Lake Mariner facility in New York with Building 2 increasing operational capacity from 60 MW to 110 MW total across both sites combined by Q2 ’23
Zero Carbon Energy Source
The Nautilus Facility directly sources reliable baseload power from Susquehanna nuclear generation station located in Pennsylvania which provides zero carbon energy source for powering these mining facilities throughout their term period of 5 years or more if needed be .
Benefits For TeraWulf
The low cost and renewable energy source provided by Susquehanna nuclear generation station allows TeraWulf to benefit significantly as they target total online capacity of 5.5 EH/s (50,000 miners & 160 MW) across both sites resulting into significant profit margins over time benefiting their shareholders significantly .