EASTON, Md. – TeraWulf Inc. (NASDAQ:WULF), an eco-friendly Bitcoin mining firm, has supplied an replace on its operational progress for February 2024. On the finish of February, TeraWulf’s self-mining hashrate reached 7.9 exahashes. per second (EH/s), a big step in the direction of their mid-2024 goal of 10 EH/s capability.
In February, the corporate mined 364 bitcoins, a 16% enhance from the earlier month. This development is attributed to the complete deployment of Constructing 3 at its Lake Mariner facility.
The common operational hashrate noticed a month-on-month enhance of 39% to 7.5 EH/s. Mining energy prices averaged $13,968 per bitcoin, or about $0.037 per kilowatt hour, excluding potential revenues from demand response or ancillary providers.
The rise in mining capability is partly because of the acquisition of roughly 4,000 Bitmain S19k Professional miners in February, a few of that are anticipated to switch round 2,000 MinerVa miners at Lake Mariner. Development of the 35 MW Constructing 4 on the Lake Mariner facility is progressing and is anticipated to be accomplished by mid-2024.
TeraWulf operates two Bitcoin mining amenities in the US, the wholly owned Lake Mariner facility in New York and the Nautilus Cryptomine facility in Pennsylvania, a three way partnership with Cumulus Coin, LLC. The corporate emphasizes its dedication to zero-carbon power, with greater than 95% of its operations powered by zero-carbon power sources, together with nuclear, hydro and photo voltaic.
The press launch additionally acknowledged that TeraWulf is pursuing a possible large-scale high-performance computing (HPC) challenge on the Lake Mariner website, with an preliminary block of two MW allotted for 1000’s of the most recent technology graphics processing models (GPUs). .
This operational replace relies on unaudited information and is topic to straightforward month-end changes. The Firm’s share of earnings or losses from the Nautilus Cryptomine facility is mirrored in fairness within the investee’s internet earnings or loss, internet of tax, and never within the objects of income, price of income or working bills in TeraWulf’s consolidated statements of operations.
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