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TeraWulf Announces Commencement of Mining Sustainable, Low-Cost Bitcoin
Lake Mariner Facility Begins Mining Operations Utilizing More Than 90% Zero-Carbon Energy EASTON, Md., March 4, 2022 /PRNewswire/ -- TeraWulf Inc. (Nasdaq:
About this update from Terawulf Inc.
[{"type":"text","content":"Lake Mariner Facility Begins Mining Operations Utilizing More Than 90% Zero-Carbon Energy\n\n\nEASTON, Md., March 4, 2022 /PRNewswire/ -- TeraWulf Inc. (Nasdaq: WULF) (\"TeraWulf\" or the \"Company\"), which was formed to own and operate fully integrated environmentally clean bitcoin mining facilities in the United States, today announced the commencement of mining operations at its Lake Mariner facility in upstate New York using more than 90% zero-carbon energy. The Lake Mariner facility is expected to reach over 500 megawatts of capacity once complete.\nThe Company also continues to expect to begin mining at its Nautilus Cryptomine facility in Pennsylvania early in the third quarter of 2022 where it aims to have 300 megawatts of gross mining capacity using 100% zero-carbon energy once complete. \n\"With the commencement of bitcoin mining, we have officially taken our talented team's proven energy infrastructure model and begun hashing for environmentally sustainable, domestic bitcoin,\" said Paul Prager, Chief Executive Officer and chair of the board of TeraWulf. \"We are proud of our team and excited for the planning and preparation to pay off as we achieve this significant milestone on our path to responsibly generate bitcoin at industrial scale. Today is just the beginning and we look forward to accelerating the ramp of our hashing and operational capabilities at our world-class facilities in New York and Pennsylvania.\"\nAbout TeraWulf\nTeraWulf (Nasdaq: WULF) was formed by an experienced group of energy entrepreneurs to own and operate fully integrated environmentally clean bitcoin mining facilities in the United States. The Company is developing two mining facilities, Lake Mariner in New York and Nautilus Cryptomine in Pennsylvania, with the objective 800 megawatts of mining capacity deployed by 2025, enabling over 23 exahash per second of expected hashrate. TeraWulf will generate domestically produced bitcoin powered by nuclear, hydro and solar energy with a goal of utilizing 100% zero-carbon energy. With a core focus of ESG that ties direction to its business success, TeraWulf expects to offer attractive mining economics at an industrial scale.\nFor more information on TeraWulf, please visit www.TeraWulf.com or follow @TeraWulfInc on Twitter.\nForward-Looking Statements\nThis press release contains forward-looking stat...