TeraWulf mines “clean” Bitcoin with nuclear energy

Bitcoin mining unit TeraWulf has launched a new mining facility with 8,000 miners using 100% nuclear power.

TeraWulf mines “clean” Bitcoin with nuclear energy

In a statement March 6, TeraWulf said the new facility, “Nautilus Cryptomine,” will be the first in the United States to use nuclear power for cryptocurrency mining.

According to TeraWulf, the electricity for Bitcoin mining will come from renewable energy sources such as steam and the sun with the goal of using “100% zero-carbon energy”. The Nautilus facility will directly source energy from the 2.5GW Susquehanna nuclear power generation plant in Pennsylvania – a joint venture with Texas energy producer Talen Energy, in which TeraWulf holds a 25% stake.

TeraWulf CEO Paul Prager stated:

“Nautilus will be the lowest energy cost facility in the sector, at just $0.02/kWh over five years.”

The $0.02/kWh figure is significantly lower than the US industry average of $0.9/kWh, as reported by the Energy Information Administration in December 2022, as well as much lower. compared to the $0.50/kWh that TeraWulf is paying at its headquarters in New York.

In terms of future plans, the company intends to raise the hash rate of 1.0 exahash/s (EH/s) to 1.9 EH/s in May. Along with that, the ambition is to reach 5.5 EH/s. on two bases at the beginning of the second quarter of this year. If the scenario comes true, TeraWulf will become one of the largest Bitcoin miners in North America.

The mining of BTC from environmentally friendly fuels is growing rapidly and its coverage is strong in recent years. Partly motivated by repression on the part of governments. Last year, New York (USA) issued a ban on the sale of mining equipment in the state. In October 2022, Europe also took legal actions against the burning issue that cryptocurrencies are increasing pollution levels.

With the cryptocurrency market continuously declining in 2022, many crypto miners in the US are already in trouble and at risk of bankruptcy, including Riot Blockchain, Core Scientific, Marathon Digital, and Argo Blockchain.

Synthetic Kyptos

Stay in the Loop

Get the daily email from CryptoNews that makes reading the news actually enjoyable. Join our mailing list to stay in the loop to stay informed, for free.

Latest stories

- Advertisement - spot_img