US bitcoin mining company TeraWulf is the first in the country to launch a 100% nuclear-powered mining farm. We’re talking about the Nautilus Cryptomine facility in Pennsylvania – the farm has 8,000 miners. The total capacity of this joint facility with Cumulus Coin is 200 MW.
TeraWulf’s stake in the facility is still 50MW – it will be at full capacity in May, and in the initial phase the company launched 8,000 miners, totaling around 1 Ehash/s. TeraWulf will deploy 8,000 more units on Nautilus over the coming weeks to reach 1.9 Eh/s. In the future, the company will increase its stake in the plant by another 50 MW.
Nuclear-powered bitcoin mining is extremely profitable because nuclear power offers one of the lowest electricity rates on the market, said Paul Prager, CEO and chairman of TeraWulf. In the next five years, the cost of 1 kWh for the company will be only $0.02. The company has another one-man facility it owns called Lake Mariner in New York City, and will soon commission a new case at that facility, which will bring power consumption to 110 MW. In total, TeraWulf will have 50,000 miners operational by the start of Q2, consuming 160 MW with a total throughput of 5.5 Uh/s.