• Terawulf has energized the first nuclear-powered bitcoin mining facility in the US at its Nautilus Facility in Pennsylvania.
• The Nautilus Facility is powered by carbon-free energy from a 2.5 GW Susquehanna nuclear plant in Pennsylvania, and will receive a fixed electricity rate of around $0.02 per kilowatt-hour (kWh).
• Terawulf is also expanding operations at its Lake Mariner facility in New York which will increase to 110 MW.
Terawulf Energizes Nuclear Bitcoin Mining Facility
Terawulf, a bitcoin mining operation, has announced that it has energized the first nuclear-powered bitcoin mining facility in the United States at the company’s Nautilus Facility in Pennsylvania. Approximately 1 exahash per second (EH/s) or close to 8,000 application-specific integrated circuit (ASIC) bitcoin miners are now online, with another 8,000 mining rigs set to be delivered shortly.
Nuclear-Powered Mining: Carbon Free Bitcoin Mining
The Nautilus facility is considered a milestone as it is the first bitcoin mining facility of its kind to receive carbon-free energy 24/7 from a 2.5 GW Susquehanna nuclear plant in Pennsylvania for five years and at an electricity rate of approximately $0.02 per kWh. According to Paul Prager, Chairman and CEO of Terawulf, “with the recent energization of the Nautilus facility earlier this month, approximately 16,000 of Terawulf’s owned miners representing 1.9 EH/s of self-mining capacity are onsite and being brought online daily.“
Bitcoin Mining Expansion
2023 has been easier on bitcoin miners due to a significant rise in the price of BTC since December last year which lead Mawson Infrastructure Group to launch their own mining operation based in Pennsylvania seven days ago. In addition to this 50MW Nautilus Facility expansion Terawulf also announced that it is expanding operations at its Lake Mariner facility in New York increasing output from 60MW up to 110MW .
Clean Energy Impact on Bitcoin Mining
With access to clean energy sources such as nuclear power plants providing low cost electricity rates and long term contracts lasting up 5 years we can expect more companies like Terawulf investing into blockchain technology which could see huge leaps forward for Carbon Emissions reduction projects all over the world spearheaded by Clean Energy powered Cryptocurrency operations such as Bitcoin Miners who offer good returns on investment for customers looking towards greener solutions for their portfolios .
Conclusion
The recent news from Terawulf highlights how access to clean energy sources such as nuclear power plants have enabled more companies like them invest into blockchain technology and cryptocurrency projects . This could potentially have huge implications for reducing Carbon Emissions worldwide powered by Clean Energy sources used by CryptoCurrency miners offering good returns on investment for customers looking towards renewable solutions for their portfolios .