Core

Bitcoin

Bitcoin mining company TeraWulf Inc. has repaid its remaining $77.5 million term loan ahead of schedule, eliminating all its outstanding debt.&nbsp; 
This move grants the company greater financial flexibility to capitalize on the growing demand for energy infrastructure, particularly for powering generative AI technology. The company <a href="https://www.globenewswire.com/news-release/2024/07/09/2910301/0/en/TeraWulf-Announces-Early-Debt-Payoff.html" data-type="link" data-id="https://www.globenewswire.com/news-release/2024/07/09/2910301/0/en/TeraWulf-Announces-Early-Debt-Payoff.html" target="_blank" rel="">said on Tuesday</a> that it plans to capitalize on generative AI to reduce funds and outflows. 
TeraWulf’s shares have more than doubled this year, bolstered by the rising demand for AI hosting. This success follows a trend with other Bitcoin miners, such as <a href="https://crypto.news/bitcoin-core-scientific-declines-1-billion-buyout/" target="_blank" data-type="link" data-id="https://crypto.news/bitcoin-core-scientific-declines-1-billion-buyout/" rel="noreferrer noopener">Core Scientific</a>, which recently secured $3.5 billion in hosting contracts with AI startup CoreWeave. 
Despite being down 8% on Tuesday, TeraWulf (<a href="https://finance.yahoo.com/quote/WULF/" target="_blank" rel="">WULF</a>) shares are up over 140% from a year ago.&nbsp; 
With its debt eliminated and a focus on AI infrastructure, <a href="https://crypto.news/terawulf-erects-first-nuclear-bitcoin-mine-in-usa/" data-type="link" data-id="https://crypto.news/terawulf-erects-first-nuclear-bitcoin-mine-in-usa/" target="_blank" rel="noreferrer noopener">TeraWulf</a> is in a strong position to use its energy assets for future growth. 
<h2 class="wp-block-heading" id="bitcoin-miners-integrating-ai">Bitcoin miners integrating AI </h2> 
TeraWilf represents a growing movement within the Bitcoin <a href="https://crypto.news/tag/mining/" target="_blank" data-type="link" data-id="https://crypto.news/tag/mining/" rel="noreferrer noopener">mining</a> community. Many miners are now transitioning their operations to high-performance computing (HPC) data centers to facilitate the advancement of AI technology.&nbsp; 
Currently, TeraWulf operates Bitcoin mining facilities powered by 95% zero-carbon energy. The company plans to expand its operational infrastructure capacity from 210 megawatts to 295 megawatts this year, with the potential to add another 300 megawatts in the near term.&nbsp; 
This expansion includes a high-performance computer project at its Lake Mariner facility in New York, designed to power the graphics processing units essential for generative AI. 
While TeraWulf and Core Scientific have outperformed, other miners like Marathon Digital and Riot Platforms have struggled with declining shares due to concerns over thinning profits.

Bitcoin mining company TeraWulf pays off debt, eyes AI expansion

Obsah

crypto.news

Ďalšie články zverejnené 9. 7. 2024

Fuk MT Gox Explodes 190% and Will Surge Another 17,000% Before KuCoin Listing

Bitcoin’s July Blues: Can CPI Data Spark a Rebound?

Institutional Buying Frenzy in Altcoins! Get Ready for Altseason and Major Data Insights This Month!

Earn Big Bucks by Starting Your Airdrop with Zloadr

Fantom secures $2.18m in compensation from Multichain Foundation

Can Bulls Succeed In Regaining Control In SUI Price & Rise To $2?

Pripojte sa k nášmu bezplatnému bulletinu a získajte denné aktualizácie kryptomien!