2024

Bitcoin

TeraWulf Inc. (NASDAQ: WULF) has announced impressive strides in its July 2024 production and operations report, showcasing significant growth and advancements in both Bitcoin mining and AI infrastructure projects. The company, which operates environmentally friendly, zero-carbon energy-powered mining facilities, has reached a remarkable 10 exahashes per second (EH/s) in operational self-mining capacity, reflecting a 100% year-over-year increase, according to <a href="https://ultramining.com/" rel="noopener noreferrer nofollow">Ultramining</a>.
In July, TeraWulf mined 195 Bitcoins, averaging 6.3 Bitcoins per day, a notable improvement from the previous month due to optimized operations and effective demand response strategies during peak summer temperatures. The Lake Mariner facility in New York alone contributed 155 Bitcoins, with the Nautilus Cryptomine facility in Pennsylvania adding 40 more.
Expansion and Efficiency at Lake Mariner
TeraWulf recently completed the construction of Building 4 at its Lake Mariner facility, installing approximately 10,000 <a href="https://ultramining.com/en/manufacturers/bitmain/" rel="noopener noreferrer nofollow">Bitmain</a> S21 and S21 Pro miners. This development boosts the company's total operating capacity to over 10.0 EH/s, supported by 245 megawatts (MW) of infrastructure capacity across its two sites. The company plans to fully utilize this capacity during periods of lower energy prices and moderate temperatures, optimizing efficiency and profitability.
Looking ahead, TeraWulf has initiated construction on Building 5 at Lake Mariner, which is expected to add another 50 MW of infrastructure capacity. This expansion aligns with TeraWulf's strategic focus on maximizing energy efficiency and leveraging demand response programs to reduce operational costs.
Cost-Effective Operations
In July, TeraWulf's average power cost per Bitcoin mined was $36,346, based on an electricity rate of $0.047/kWh. The company successfully curtailed over 3,400 megawatt-hours (MWh) through demand response activities, which is projected to reduce power costs by approximately $0.013/kWh. This strategy not only enhances profitability but also underscores TeraWulf's commitment to sustainable energy practices.
Despite the summer heat, the company achieved a nameplate miner efficiency of 24.6 Joules per terahash (J/TH), reflecting its dedication to maintaining high operational standards and cost-effective production.
Pioneering AI and High-Performance Computing Projects
TeraWulf is also making significant progress in its AI and high-performance computing (HPC) ventures. The company is advancing a 2 MW AI/HPC digital infrastructure proof-of-concept project at Lake Mariner, known as the "WULF Den." This initiative supports cutting-edge GPU technology and demonstrates TeraWulf's commitment to innovation beyond cryptocurrency mining.
Additionally, TeraWulf is designing a 20 MW colocation pilot project, "CB-1," at the Lake Mariner facility, capable of supporting 16 MW of critical IT load with liquid cooling and redundancy requirements typical of a Tier 3 data center. The CB-1 project is slated to be operational by Q4 2024, further solidifying TeraWulf's position as a leader in high-density computing.
A Vision for Sustainable Growth
TeraWulf's success is driven by its dedication to environmentally clean operations, utilizing approximately 95% zero-carbon energy resources, including nuclear, hydro, and solar power. The company's vertically integrated approach and strategic expansion efforts are setting new standards in the Bitcoin mining industry.
With a focus on ESG principles and cutting-edge technology, TeraWulf aims to deliver industry-leading mining economics at an industrial scale, providing substantial value to stakeholders while advancing its sustainability goals.

TeraWulf: 100% Growth and New AI Projects

Ultramining_Eng

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