A bitcoin mining company has announced it mined $6.49 million worth of Bitcoin in a single month.
TeraWulf is the first 100% nuclear-powered Bitcoin (BTC) mining facility in the U.S., located in Pennsylvania. The Nautilus Bitcoin mining center hosts 9,200 miners propelling TeraWulf’s average operating hash rate to a whopping 3 EH/s.
In a recent announcement the company details its continuing progress and scaling up of the operations. Since February, the operation has gained 50% more operational hash rate.
A video posted on Twitter shows the nuclear powered bitcoin mining facility from inside.
TeraWulf is currently operating two bitcoin mining facilities, the Nautilus facility, and its fully-owned Lake Mariner site in New York. These operations leverage hydro and nuclear power, with 91% of the energy being zero-carbon. Together, the facilities have achieved a remarkable average production rate of 7.5 BTC daily, and self-mined 233 Bitcoins in March alone.
The value of total bitcoin mined by the company in March is currently about $6.5 million. This translates to an impressive $208,973 per day, considering the current Bitcoin price of $27,863 at the time of writing.
Kerri Langlais, TeraWulf’s Chief Strategy Officer, has commented on the latest results, revealing that the company plans to increase mining capacity to 5.5 EH/s in Q2 – almost double the current capacity. Additionally, the firm has plans to add another 50 MW of capacity to each of its mining facilities, as it pushes forward with ambitious growth objectives.
“In addition to quickly ramping up 50 MW of zero-carbon capacity at the Nautilus facility, construction continues at Lake Mariner, where we have another 50 MW of capacity scheduled to go online in a matter of weeks. Once Nautilus is fully ramped and Building 2 at Lake Mariner is energized, TeraWulf’s total hash rate is expected to increase to 5.5 EH/s.”
In August 2021, TeraWulf and Cumulus Data, a zero-carbon data center manufacturer and a subsidiary of independent power producer Talen Energy, unveiled Nautilus as their joint project. The construction of the first data center, powered by a 2.5 GW nuclear power station, was completed in January 2023.
This partnership has proven to be a game-changer, with Nautilus quickly emerging as the United States’ first 100% nuclear-powered Bitcoin mining center.
Amidst the increased scrutiny that Proof-of-Work (PoW) technology has faced, with concerns about its carbon emissions and potential environmental impact, the successful construction and operation of TeraWulf’s mining facilities present a strong counterargument.
The firm’s use of hydro and nuclear power showcases the viability of sustainable and eco-friendly practices within the bitcoin mining industry.
As such, these developments serve as a testament to the potential for clean energy to power PoW mining operations needed for safe and strong operation of the digital money network.