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TeraWulf Announces January 2024 Production and Operations Update: 7.1 EH/s and Counting
Achieved 7.1 EH/s of self-mining in January with Building 3 (45 MW) at Lake Mariner fully energized Expected to reach 7.9 EH/s of owned hashrate in early
About this update from Terawulf Inc.
[{"type":"text","content":"Achieved 7.1 EH/s of self-mining in January with Building 3 (45 MW) at Lake Mariner fully energized Expected to reach 7.9 EH/s of owned hashrate in early February as additional S19j XPs are deployed Building 4 (35 MW) construction at Lake Mariner well underway, providing path to 10 EH/s by mid-2024 EASTON, Md., Feb. 02, 2024 (GLOBE NEWSWIRE) -- TeraWulf Inc. (Nasdaq: WULF) (“TeraWulf” or the “Company”), owners and operators of 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 2024. January 2024 Highlights Self-mined 313 bitcoin in January with an average production rate of over 10 bitcoin per day.Power cost averaged $16,737 per bitcoin self-mined, or approximately $0.05/kWh in January, which excludes the benefit of demand response or ancillary services revenue.Building 3 at Lake Mariner was fully deployed at month end, utilizing roughly two thirds of the Company’s recently purchased 2.8 EH/s of S19j XPs. The balance of the S19j XP purchase is planned to be installed by early February to consume open infrastructure capacity as it becomes available in connection with the nearing expiration of the Company’s only hosting agreement.Strategically deployed performance tuning, including efficiency mode and selective miner curtailment, during the week of elevated energy pricing mid-January, in addition to overclocking to increase hash when energy pricing normalized. Key Metrics 1January 2024Bitcoin Self-Mined 2 313Value per Bitcoin Self-Mined 3$42,810Power Cost per Bitcoin Self-Mined 4$16,737Avg. Operating Hash Rate (EH/s) 5 5.4 Management Commentary “During January, the Company mined 313 bitcoin, a slight decrease from December’s bitcoin production, due to increased average difficulty and lower transaction fees month-over-month, as well as opportunistic miner performance tuning, which was done to maximize margins during days with seasonally elevated power prices due to colder than average temperatures in upstate New York. Despite the cold snap, our team worked tirelessly throughout the month to deploy the S19j XP deliveries in line with our February 1 target,” said Sean Farrell, SVP of Operations at TeraWulf. “We continue to explore firmware and third-party solutions to further improve performance, and te...