First US Nuclear-Powered Bitcoin Mining Plant Deploys Miners

China's FUD

Cetoex News – TeraWulf announced today that the company has now fully energized its 50-MW stake in the Nautilus Cryptomine facility. It is the first-ever US Nuclear Powered Bitcoin Mining Plant. The Nautilus facility is the first of its kind; the mining facilities are powered by more than 91% zero-carbon energy.

The Company successfully deployed its full share in phase one of the nuclear-powered Bitcoin mining facility – 50 MW and 1.9 EH/s – ahead of schedule. According to Terawulf, it has the option to add an additional 50 MW of mining capacity at the Nautilus facility, which the Company plans to deploy in future phases.

Additional Miners and Facilities

TeraWulf also has an operational fleet of approximately 34,500 of the latest-generation miners. This includes 18,500 miners at its wholly-owned Lake Mariner facility in New York. There are also 16,000 self-miners at the nuclear-powered Bitcoin Nautilus facility in Pennsylvania. “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,” Paul Prager, Chairman and CEO of TeraWulf, said today.

“Deploying 50 MW of mining capacity at the Nautilus facility is an important milestone for the Company. 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.”

Additionally, TeraWulf currently has 60 MW operational at Lake Mariner and is in the final stages of construction on Building 2. This will increase Lake Mariner’s operational capacity to over 110 MW in the coming weeks. Combined, the Company expects to have a total operational capacity of 50,000 miners (5.5 EH/s) in Q2 2023. Correspondingly, it will present approximately 160 MW of power demand.