[ad_1]
Bitcoin mining firm Terawulf has announced the full deployment of its 50 megawatt (MW) stake in the Nautilus Cryptomine nuclear facility. The bitcoin mining facility behind the meter is powered by 100% nuclear energy and has a fixed electricity cost of $0.02 per kilowatt-hour (kWh), according to the company.
Terawulf Launches 50MW Carbonless Bitcoin Mining; Aims to reach 5.5 PE/s of capacity by Q2 2023
Just over 45 days ago, bitcoin mining company Terawulf announced that it had powered the Nautilus Cryptomine facility, a carbon-free data center with 24/7 basic power from the Susquehanna Nuclear Power Plant in Pennsylvania. On April 20, 2023, the company revealed that it had successfully deployed 50 MW or 1.9 exahash per second (EH/s) of hashrate. Terawulf collaborates with Cumulus Coin, LLC, with the Nautilus Cryptomine being referred to as a “joint venture” between the two companies.
Terawulf has the option of adding an additional 50 MW, and it plans to do so in “future phases”, the company’s press release explains. The company currently has 4 PE/s of hashing power with its 34,500 bitcoin mining devices. Eighteen thousand five hundred machines are located at the company’s site in Lake Mariner, New York, and 16,000 application-specific integrated circuit (ASIC) miners reside at the Nautilus facility. In addition to nuclear power from the Pennsylvania facility, Terawulf says its bitcoin mining production also harnesses hydroelectricity and solar power at its other sites.
“Our team has worked quickly and diligently to achieve our stated goal of reaching 5.5 PE/s of operational mining capacity in the second quarter of 2023,” Paul Prager, Chairman and CEO of Terawulf, said Thursday. “The deployment of 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 United States, but Terawulf now has the opportunity to realize the economic benefit of 50MW of carbon-free mining at what is arguably the cost of lowest contract energy in the industry – just $0.02/kWh for a five-year term.
Terawulf boosting its 50-megawatt stake in Nautilus comes at a time when bitcoin prices have fallen below the $29,000 per unit zone, down 5.7% over the past seven days. The decline has caused BTC’s average mining costs to be higher than the current spot market value, according to statistics from macromicro.me. BTC miners also face the difficulty of the network which soared to 48.71 trillion on April 20 at a block height of 786,240. In less than two months, the difficulty of the network increased by more than 22%, again straining mining operations.
Keywords in this story Bitcoin mining, BTC miners, BTC Mining, Cumulus Coin, economic advantage, Hashpower, Nautilus Cryptomine, nuclear energy, operational mining capacity, Terawulf, zero carbon
What do you think of the potential benefits of nuclear-powered bitcoin mining? Share your thoughts in the comments section below.
Jamie Redman
Image credits: Shutterstock, Pixabay, Wiki Commons
Disclaimer: This article is provided for informational purposes only. This is not a direct offer or the solicitation of an offer to buy or sell, or a recommendation or endorsement of any product, service or company. Bitcoin.com does not provide investment, tax, legal or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.
More popular newsIn case you missed it
|
Sources 2/ https://news.bitcoin.com/terawulf-energizes-50-mw-at-nuclear-powered-bitcoin-mining-facility-nautilus/ The mention sources can contact us to remove/changing this article |
[ad_2]