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TeraWulf Announces February 2023 Production and Operations Updates
Increased self-mining hash rate capacity by > 82% month-over-month to 2.6 EH/s as of February 28, 2023. Energized Nautilus Cryptomine, the first
About this update from Terawulf Inc.
[{"type":"text","content":"\nIncreased self-mining hash rate capacity by > 82% month-over-month to 2.6 EH/s as of February 28, 2023.\n\nEnergized Nautilus Cryptomine, the first nuclear-powered bitcoin mining facility in the U.S., with 1 EH/s of self-mining capacity deployed at month end.\n\n EASTON, Md.--(BUSINESS WIRE)--\nTeraWulf Inc. (Nasdaq: WULF) (“TeraWulf” or the “Company”), which owns and operates vertically integrated, domestic bitcoin mining facilities powered by more than 91% zero-carbon energy, today provided an unaudited monthly production and operations update for February 2023.\n\nFebruary 2023 Highlights\n\n\nCommenced mining at the Nautilus Cryptomine facility, the first bitcoin mining facility powered by 100% nuclear power in the U.S., exiting the month with approximately 8,000 miners energized.\n\n\nAchieved an average operating hash rate of 2.0 EH/s for the month, exiting February with 2.6 EH/s of self-mining capacity following the energization and ramp of self-mining at the Nautilus facility, which represents an 82% month-over-month increase in self-mining hash rate compared to January.\n\n\nSelf-mined 143 bitcoin in February with an average production rate of 5 bitcoin per day.\n\n\nCost of power in February averaged $7.9k per bitcoin produced, or approximately $0.038/kWh, which is in line with the Company’s targeted power cost of $0.035/kWh across its two mining sites.\n\n\nConstruction continued at the Lake Mariner facility, where an additional 50 MW of self-mining capacity is expected to come online in early Q2 2023.\n\n\n\n\nKey Metrics1,2\n\n\n\nFebruary 2023\n\n\n\n\n\nBitcoin Self-Mined\n\n\n\n143\n\n\n\n\n\nSelf-Mining Revenue ($M)\n\n\n\n$2.9\n\n\n\n\n\nHosting Revenue ($M)\n\n\n\n$0.4\n\n\n\n\n\nPower Cost ($M)\n\n\n\n$1.4\n\n\n\n\n\nAvg. Operating Hash Rate (EH/s)\n\n\n\n2.0\n\n\n\n\n\nRevenue per Bitcoin\n\n\n\n$23,388\n\n\n\n\n\nPower Cost per Bitcoin\n\n\n\n$7,933\n\n\n\n\n“February was an exceptional month for TeraWulf as the Company achieved another key milestone of completing construction and commencement of mining operations at the Nautilus facility, the first behind-the-meter bitcoin mining facility in the U.S. to utilize 100% nuclear power,” stated Kerri Langlais, Chief Strategy Officer of TeraWulf.\n\n“As we rapidly deploy our 50 MW of zero-carbon self-mining at Nautilus, TeraWulf is busy at Lake Mariner completi...