Bitcoin

TeraWulf <a href="https://www.businesswire.com/news/home/20230420005756/en/TeraWulf-Announces-Full-Deployment-of-50-MW-at-the-Nautilus-Bitcoin-Mining-Facility-Ahead-of-Schedule" rel="nofollow noopener" target="_blank">announced</a> that it has successfully energized its entire 50-MW stake in the Nautilus Cryptomine facility, marking the launch of the first-ever US nuclear-powered Bitcoin mining plant.



With over 91% zero-carbon energy powering the facility, the Nautilus plant is truly a pioneer in its field. TeraWulf has managed to deploy its full share in phase one of the nuclear-powered Bitcoin mining facility, boasting 50 MW and 1.9 EH/s, ahead of schedule. The company plans to further expand its capacity at the Nautilus facility, with the option to add an additional 50 MW in future phases.



<h2 id="rapid-expansion-of-mining-operations">Rapid expansion of mining operations</h2>



TeraWulf currently operates an impressive fleet of approximately 34,500 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 trailblazing nuclear-powered Bitcoin Nautilus facility in Pennsylvania. Paul Prager, Chairman and CEO of TeraWulf, stated, &#8220;Our team has been working swiftly and diligently to achieve our stated goal of reaching 5.5 EH/s of operational mining capacity in Q2 2023.&#8221;



Prager further highlighted the significance of the Nautilus facility deployment, saying, &#8220;Not only does it represent the first nuclear-powered Bitcoin mining facility in the U.S., but TeraWulf now has the opportunity to realize the economic advantage of 50 MW of zero-carbon mining at what is arguably the lowest contracted power cost in the sector – just $0.02/kWh for a term of five years.&#8221; 



TeraWulf currently has 60 MW operational at Lake Mariner and is nearing the completion of construction on Building 2, which will increase the facility&#8217;s operational capacity to over 110 MW in the coming weeks. Combining these assets, the company anticipates a total operational capacity of 50,000 miners (5.5 EH/s) in Q2 2023, corresponding to approximately 160 MW of power demand.

US launches first nuclear-powered Bitcoin mining plant

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