First US Nuclear-Powered Bitcoin Mining Plant Deployed
TeraWulf, a leading Bitcoin mining company, announced today that it has fully energized its 50-MW stake in the Nautilus Cryptomine facility, which is now the first-ever US Nuclear Powered Bitcoin Mining Plant. The Nautilus facility is the first of its kind and is powered by more than 91% zero-carbon energy, making it one of the most eco-friendly mining facilities in the world.
JUST IN: 🇺🇸 First ever US nuclear-powered #Bitcoin mining plant announces full deployment of miners.
— Watcher.Guru (@WatcherGuru) April 20, 2023
Nuclear-Powered Bitcoin Mining Facility
The Company successfully deployed its full share in phase one of the nuclear-powered Bitcoin mining facility ahead of schedule, including 50 MW of mining capacity and 1.9 EH/s. According to Terawulf, it has the option to add an additional 50 MW of mining capacity at the Nautilus facility, which the Company plans to deploy in future phases.
TeraWulf also operates a fleet of approximately 34,500 of the latest-generation miners. This includes 18,500 miners at its wholly-owned Lake Mariner facility in New York and 16,000 self-miners at the nuclear-powered Bitcoin Nautilus facility in Pennsylvania. The company aims to reach 5.5 EH/s of operational mining capacity in Q2 2023, with a total operational capacity of 50,000 miners.
Zero-carbon Mining
Paul Prager, Chairman and CEO of TeraWulf, called deploying 50 MW of mining capacity at the Nautilus facility an “important milestone for the Company.” He added that it not only represents the first nuclear-powered Bitcoin mining facility in the U.S. but also provides an economic advantage of 50 MW of zero-carbon mining at the lowest contracted power cost in the sector – just $0.02/kWh for a term of five years.
Furthermore, TeraWulf currently has 60 MW operational at Lake Mariner and is in the final stages of constructing Building 2, which will increase Lake Mariner’s operational capacity to over 110 MW in the coming weeks. Combined, the Company expects to present approximately 160 MW of power demand.
TeraWulf’s commitment to sustainable mining practices comes amid increasing concerns about the energy consumption of Bitcoin mining, which has historically relied on non-renewable energy sources such as coal. By using nuclear power and other renewable energy sources, TeraWulf hopes to reduce the carbon footprint of Bitcoin mining and promote a more sustainable future for the industry.
