Bitcoin

TeraWulf Inc., a leader in environmentally conscious Bitcoin mining, announced significant progress in its operations for November 2023. The company successfully mined 323 bitcoins, marking a 3% increase from October. This achievement translates to an average daily <a href="https://ultramining.com/news/en/bitcoin-miners-set-for-a-tough-ride-as-2024-halving-nears-jp-morgan/" rel="noopener noreferrer nofollow">production</a> rate of over 10.8 bitcoins. The cost efficiency was notable, with power costs averaging $11.3k per bitcoin, approximately $0.037/kWh, according to <a href="https://investors.terawulf.com/news-events/press-releases/detail/61/terawulf-announces-november-2023-production-and-operations" rel="noopener noreferrer nofollow">Terawulf</a>.
TeraWulf's operational efficiency is highlighted by its average operating <a href="https://ultramining.com/news/en/bitcoin-miners-set-for-a-tough-ride-as-2024-halving-nears-jp-morgan/" rel="noopener noreferrer nofollow">hash rate</a> of 5.2 EH/s. The company's Senior Vice President of Operations, Sean Farrell, emphasized the role of higher network transaction fees and over 95% availability of their 5 EH/s self-mining capacity in achieving these results.
Both of TeraWulf's facilities, Lake Mariner in New York and Nautilus Cryptomine in Pennsylvania, exhibited strong performance. The Lake Mariner facility notably exceeded the requirements for participation in an operating reserve program with NYISO. This achievement nearly doubled the capacity qualified for the program, further reducing the already below-average industry cost of power sourced at the site.
As of November 30, 2023, TeraWulf maintained an operational miner fleet of approximately 50,000 latest-generation miners. This fleet includes 34,000 miners at the Lake Mariner facility and 16,000 self-miners at the nuclear-powered Nautilus facility. The Lake Mariner site also hosts 5,000 miners under an agreement set to expire in December 2023.
TeraWulf's November performance not only demonstrates its growing operational capabilities but also its commitment to sustainable and efficient bitcoin mining. This strategic approach positions the company as a frontrunner in the crypto <a href="https://ultramining.com/news/en/texas-residents-challenge-bitcoin-mining-industrys-impact-on-power-grid-and-communities/" rel="noopener noreferrer nofollow">mining industry</a>, leveraging zero-carbon energy to power its growth and innovation.&nbsp;&nbsp;

TeraWulf’s Impressive November: Mining 323 BTC, Expanding Capacity, and Driving Efficiency

Ultramining_Eng

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