Bitcoin

After launching its services in Pennsylvania, the first 100% nuclear-powered Bitcoin (<a href="https://finbold.com/cryptocurrency/bitcoin/" rel="noopener noreferrer nofollow">BTC</a>) mining facility in the United States, run by the <a href="https://finbold.com/cryptocurrencies/" rel="noopener noreferrer nofollow">cryptocurrency</a> mining company TeraWulf, is already reaping impressive results and recording constant progress while continuing to ramp up its operations.Indeed, the <a href="https://finbold.com/guide/bitcoin-mining-guide/" rel="noopener noreferrer nofollow">Bitcoin mining</a> center Nautilus has completed March with approximately 9,200 energized miners, contributing to TeraWulf’s average operating hash rate of 3 EH/s for the month, which represents a 50% month-over-month increase compared to February, according to a <a href="https://www.businesswire.com/news/home/20230405005807/en/TeraWulf-Announces-March-2023-Production-and-Operations-Updates" rel="noopener noreferrer nofollow">press release</a> from April 6.<h2 id="header-0">Crypto mining in numbers</h2>Shortly before the above press release, on April 5, the company also <a href="https://twitter.com/TeraWulfInc/status/1643706936666324994" rel="noopener noreferrer nofollow">posted</a> a video proudly showcasing the inside of the Nautilus nuclear-powered <a href="https://finbold.com/topic/bitcoin/" rel="noopener noreferrer nofollow">Bitcoin</a> mining facility.<img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/ac605d0aca6f4d468090ad18a3175046.PNG" />&#64;TerraWulfInc&#39;s Tweet. Source: <a href="https://twitter.com/TeraWulfInc/status/1643706936666324994" rel="noopener noreferrer nofollow">Twitter.com</a>Specifically, the company is currently running two <a href="https://finbold.com/guides/cryptocurrency/" rel="noopener noreferrer nofollow">crypto</a> mining operations – at Nautilus Cryptomine and its wholly-owned Lake Mariner facility in New York, which largely relies on hydro and nuclear power (91% zero-carbon energy). Together, these two establishments have achieved an average production rate of 7.5 BTC per day, self-mining 233 Bitcoin in March.In terms of the value of Bitcoin mined by the company’s facilities, this means that about $6.49 million worth of the flagship decentralized finance (<a href="https://finbold.com/guide/liquidity-mining-definition/" rel="noopener noreferrer nofollow">DeFi</a>) asset was produced in a single month or about $208,973 per day, taking into account the current price of Bitcoin, which at press time stood at $27,863.<h2 id="header-1">Ramping up zero-carbon operations</h2>Commenting on the results, Chief Strategy Officer at TeraWulf, Kerri Langlais, said that the company aimed to raise the mining capacity to 5.5 EH/s in the second quarter, as well as planning an additional 50 MW of capacity for each of the mining facilities:<blockquote>“In addition to quickly ramping up 50 MW of zero-carbon capacity at the Nautilus facility, construction continues at Lake Mariner, where we have another 50 MW of capacity scheduled to go online in a matter of weeks. Once Nautilus is fully ramped and Building 2 at Lake Mariner is energized, TeraWulf’s total hash rate is expected to increase to 5.5 EH/s.”</blockquote>It is also worth mentioning that Nautilus was first announced in August 2021 as a joint project between TeraWulf and zero-carbon data center manufacturer Cumulus Data, a subsidiary of an independent power producer Talen Energy. In January 2023, they <a href="https://finbold.com/americas-first-nuclear-powered-bitcoin-mining-center-to-open-in-pennsylvania/" rel="noopener noreferrer nofollow">completed</a> the shell for its first data center, powered by a 2.5 GW nuclear power station, as <a href="https://finbold.com/" rel="noopener noreferrer nofollow">Finbold</a> reported at the time.Meanwhile, the construction and success of both mining facilities represent a powerful argument against the rampant criticism that <a href="https://finbold.com/guide/cryptocurrency-staking-guide/#ProofofStake_vs_ProofofWork" rel="noopener noreferrer nofollow">Proof-of-Work</a> (PoW) <a href="https://finbold.com/category/technology-news/" rel="noopener noreferrer nofollow">technology</a>, used for mining digital assets like Bitcoin, is a danger to the environment and climate due to its carbon emissions, which has led to increased <a href="https://finbold.com/white-house-prepares-policy-to-fight-bitcoin-mining-environmental-impact/" rel="noopener noreferrer nofollow">White House scrutiny</a>.Read more cryptocurrency news on <a href="https://finbold.com/americas-first-nuclear-powered-bitcoin-mining-center-reveals-q1-results/?utm_source&#61;CMC&amp;utm_medium&#61;social&amp;utm_campaign&#61;CMC&amp;utm_content&#61;short" rel="noopener noreferrer nofollow">Finbold.com</a>.

America’s first nuclear-powered Bitcoin mining center reveals Q1 results

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