Business
TeraWulf Announces January 2023 Production and Operations Updates
Self-mined 157 Bitcoin in January 2023, a >25% increase over December 2022 Deployed fleet of 18,000 miners exceeding hash rate capacity of 2.0 EH/s as of
About this update from Terawulf Inc.
[{"type":"text","content":"\nSelf-mined 157 Bitcoin in January 2023, a >25% increase over December 2022\n\nDeployed fleet of 18,000 miners exceeding hash rate capacity of 2.0 EH/s as of January 31, 2023\n\nEnergization of the Nautilus Cryptomine facility remains on track for Q1 2023\n\nContinued focus on expanding to 5.5 EH/s of operating capacity with 50,000 self-miners\n\nAverage power cost per Bitcoin of $9,470 in January 2023 reinforcing industry-leading power costs\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 January 2023.\n\nJanuary 2023 Highlights\n\n\nSelf-mined 157 Bitcoin in January 2023, an increase of more than 25% from December 2022.\n\n\nDeployed fleet of 18,000 miners that consistently achieved hash rate capacity of +2.0 EH/s with self-owned miners delivering nearly 100% operational uptime.\n\n\nPower cost decreased in January 2023 to approximately $0.052/kWh, compared to approximately $0.060/kWh in December 2022 following the return to more normalized weather.\n\n\nThe Company continues to target a blended average cost of power of approximately $0.035/kWh, comprised of approximately $0.045/kWh at the Lake Mariner facility and a fixed, five-year contracted rate of $0.02/kWh at the Nautilus Cryptomine facility.\n\n\n\n\n\n\n\n\n \n\n\n\nKey Metrics\n\n\n\nOctober\n\n\n2022\n\n\n\nNovember\n\n\n2022\n\n\n\nDecember\n\n\n2022\n\n\n\nJanuary\n\n\n20231\n\n\n\n\n\n\nBitcoin (Self-Mined)\n\n\n\n119\n\n\n\n134\n\n\n\n125\n\n\n\n157\n\n\n\n\n\n\nSelf-Mining Revenue ($M)\n\n\n\n$2.3\n\n\n\n$2.4\n\n\n\n$2.1\n\n\n\n$3.1\n\n\n\n\n\n\nHosting Revenue ($M)\n\n\n\n$0.9\n\n\n\n$0.7\n\n\n\n$0.6\n\n\n\n$0.7\n\n\n\n\n\n\nPower Cost ($M)\n\n\n\n$2.0\n\n\n\n$1.4\n\n\n\n$2.2\n\n\n\n$2.0\n\n\n\n\n\n\nAvg. Operating Hash Rate (EH/s)\n\n\n\n1.6\n\n\n\n1.9\n\n\n\n1.5\n\n\n\n2.0\n\n\n\n\n\n\nRevenue per Bitcoin\n\n\n\n$19,646\n\n\n\n$17,617\n\n\n\n$17,005\n\n\n\n$19,930\n\n\n\n\n\n\nPower Cost per Bitcoin\n\n\n\n$11,060\n\n\n\n$6,151\n\n\n\n$12,984\n\n\n\n$9,470\n\n\n\n\n\n\n1 January 2023 results are based on estimated power costs, which remain subject to standard month end adjustments.\n\n\n\n\n“TeraWulf made remarkabl...