EASTON, Md. – TeraWulf Inc. (NASDAQ:WULF), an organization specializing in environmentally clear bitcoin mining, has offered an replace on its operational progress for February 2024. As of the top of February, TeraWulf’s self-mining hashrate reached 7.9 exahashes per second (EH/s), a major step in direction of their mid-2024 objective of reaching a capability of 10 EH/s.
In February, the corporate mined 364 bitcoin, marking a 16% enhance from the earlier month. This progress is attributed to the total deployment of Constructing 3 at its Lake Mariner facility.
The typical working hashrate noticed a month-over-month enhance of 39% to 7.5 EH/s. The facility price for mining averaged $13,968 per bitcoin, or about $0.037 per kilowatt-hour, excluding potential proceeds from demand response or ancillary companies.
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 meant to exchange roughly 2,000 MinerVa miners at Lake Mariner. The development of Constructing 4, with a capability of 35 MW, on the Lake Mariner facility is advancing and is anticipated to finish by mid-2024.
TeraWulf operates two bitcoin mining amenities in the USA, 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 its operations powered by greater than 95% zero-carbon power sources, together with nuclear, hydro, and photo voltaic.
The press launch additionally talked about that TeraWulf is pursuing a possible large-scale, high-performance computing (HPC) undertaking on the Lake Mariner web site, with an preliminary 2 MW block of energy allotted for hundreds of the most recent technology graphics processing items (GPUs).
This operational replace relies on unaudited figures and stays topic to straightforward month-end changes. The corporate’s share of earnings or losses from the Nautilus Cryptomine facility is mirrored inside fairness in internet revenue or lack of investee, internet of tax, and never in income, price of income, or price of operations traces in TeraWulf’s consolidated statements of operations.
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