Bitcoin

TeraWulf, the world’s sixth-largest Bitcoin mining firm, is set to launch a new Bitcoin mining facility at the end of September, along with a potential partnership with a Magnificent Seven company.
The new Bitcoin (<a data-ct-non-breakable="null" href="https://cointelegraph.com/bitcoin-price" rel="noopener noreferrer nofollow" target="null" text="null">BTC</a>) mining facility is set to go live at the beginning of September, according to Nazar Khan, co-founder and chief operating officer of TeraWulf.
Khan told Cointelegraph in an exclusive interview: 
<blockquote>
 “Our WULF Den facility is a 2-megawatt facility that will come online next month. It’s a liquid-cooled design. What allowed us to expedite the timing was that we were building it inside an existing structure.”
</blockquote>
<figure><img alt="TeraWulf launches new Bitcoin mining facility, eyes major tech partnership" name="" src="https://s3.cointelegraph.com/uploads/2024-08/01919e47-bf48-70e9-ad2c-dc468a345d57">
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 TeraWulf logo. Source: <a data-ct-non-breakable="null" href="https://x.com/TeraWulfInc/media" rel="noopener noreferrer nofollow" target="null" text="null">TeraWulf</a>
 </figcaption>
</figure>
The launch of Wulf Den precedes the launch of TeraWulf’s milestone 20-megawatt facility, set to go live before the end of 2024.
Related: <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/bitcoin-green-monthly-close-64-3k" rel="noopener noreferrer nofollow" target="null" text="null">Can Bitcoin get a green monthly close above $64.3K?</a>
<h2 id="magnificent-seven-partnership-ahead-for-wulf">Magnificent Seven partnership ahead for WULF?</h2>
TeraWulf is “actively engaging” with some of the biggest names in tech, including members of the Magnificent Seven,&nbsp; a moniker for the top-performing tech stocks: Alphabet, Amazon, Apple, Meta, Microsoft, Nvidia and Tesla.
When asked about a potential partnership, Khan told Cointelegraph that the discussions aren’t exclusively with the member companies of the Magnificent Seven but also companies in the wider tech sector. He explained:
<blockquote>
 “Our goal is to find a customer and partner that we want to grow with at the site… For a customer to credibly be able to take down 100MW or 200MW of capacity is a very significant sum of capital.”
</blockquote><iframe width="100%" height="315" src="https://www.youtube.com/embed/ut0nmYwRdYk" frameborder="0" allow="accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture" allowfullscreen></iframe>
Nazar Khan, TeraWulf, Interview with Cointelegraph’s Zoltan Vardai. Source: <a data-ct-non-breakable="null" href="https://www.youtube.com/watch?v=ut0nmYwRdYk" rel="noopener noreferrer nofollow" target="_blank" text="null">YouTube</a>
Likely partners could include data centers or large <a data-ct-non-breakable="null" href="https://cointelegraph.com/explained/what-are-artificial-intelligence-ai-crypto-coins-and-how-do-they-work" rel="noopener noreferrer nofollow" target="_self" text="null">artificial intelligence (AI)</a> firms looking to tap into TeraWulf’s spare computing power.
Related: <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/trader-loses-1-million-fake-mbappe-token-scam" rel="noopener noreferrer nofollow" target="null" text="null">Trader loses $1M in scam after Kylian Mbappe’s X account is hacked</a>
<h3 id="terawulf-is-the-most-profitable-miner-on-a-per-share-basis">TeraWulf is the most profitable miner on a per-share basis</h3>
On average, TeraWulf spends approximately $40,000 in production costs to mine an entire Bitcoin.
This is partly what makes TeraWulf one of the most profitable <a data-ct-non-breakable="null" href="https://cointelegraph.com/learn/how-to-mine-bitcoin-a-beginners-guide-to-mine-btc" rel="noopener noreferrer nofollow" target="_self" text="null">Bitcoin miners</a> on a per-share basis, explained Khan:
<blockquote>
 “We believe our job is to produce Bitcoin at the lowest possible price, capture a spread, then move on in the second quarter. Our all-in fully loaded production costs, including every single cost in the company, is around $40,000 per Bitcoin.”
</blockquote><iframe width="100%" height="315" src="https://www.youtube.com/embed/lebY3a-W4P8" frameborder="0" allow="accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture" allowfullscreen></iframe>
Nazar Khan, TeraWulf, Interview with Cointelegraph’s Zoltan Vardai. Source: <a data-ct-non-breakable="null" href="https://www.youtube.com/watch?v=lebY3a-W4P8" rel="noopener noreferrer nofollow" target="_blank" text="null">YouTube</a>
Khan added that TeraWulf sells Bitcoin daily due to the profitable spread.
This approach contrasts with the strategy of the world’s largest Bitcoin miner, Marathon Digital Holdings, which <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/marathon-digital-bitcoin-holdings-july-2024" rel="noopener noreferrer nofollow" target="null" text="null">adopted a “full hodl” approach</a>, which is crypto slang for “hold on for dear life.”
<a data-ct-non-breakable="null" href="https://cointelegraph.com/news/world-s-largest-bitcoin-miner-250-m-raise-buy-bitcoin" rel="noopener noreferrer nofollow" target="null" text="null">Marathon raised $250 million</a> in August, aiming to buy more Bitcoin. It <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/marathon-digital-buys-100m-bitcoin-hodl-strategy" rel="noopener noreferrer nofollow" target="null" text="null">purchased $100 million worth of BTC</a> in July, aiming to make it a strategic reserve asset.<iframe width="100%" height="315" src="https://www.youtube.com/embed/-3qG8ZKPPc4" frameborder="0" allow="accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture" allowfullscreen></iframe>
Mining Bitcoin at home — Is it time to start? Source: <a data-ct-non-breakable="null" href="https://www.youtube.com/watch?v=-3qG8ZKPPc4&amp;t=1s" rel="noopener noreferrer nofollow" target="_blank" text="null">YouTube</a>
Magazine: <a data-ct-non-breakable="null" href="https://cointelegraph.com/magazine/bitcoiners-all-in-trump-since-bitcoin-2024-getting-risky/" rel="noopener noreferrer nofollow" target="null" text="null">Bitcoiners are ‘all in’ on Trump since Bitcoin ’24, but it’s getting risky</a>

TeraWulf launches new Bitcoin mining facility, eyes major tech partnership

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