ihodl.com
US cryptocurrency mining company TeraWulf has harnessed 50MW of power from the Saquehanna nuclear power plant in Pennsylvania to mine Bitcoin.
The company has connected about 8,000 miners at the joint Nautilus facility with Cumulus Coin to the network with a total hashrate of approximately 1 EH/s. The company plans to deploy a similar number of devices by May 2023.
Paul Prager, CEO of TeraWulf, has said:
"The Nautilus nuclear-powered mining facility benefits from what is arguably the lowest cost power in the sector, just $0.02/kWh for a term of five years."
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After using the agreed capacity of 50 MW, the company could use the same amount of electricity for mining.
At the same time, the company has expanded the capacity of its Lake Mariner data center in New York State. Following the commissioning of the second building, the facility's operating capacity increased from 60 MW to 110 MW.
TeraWulf expects the number of active ASIC miners to reach 50,000 by early Q2, with a total hashrate of 5.5 EH/s.
The company raised $32 million in February through a share placement. The funds were used to restructure debt.