Business
TeraWulf Announces July 2024 Production and Operations Update
Advancements of AI/HPC digital infrastructure projects at Lake Mariner 10 EH/s of installed and operational self-mining capacity, up 100.0% Y-o-Y Completion
About this update from Terawulf Inc.
[{"type":"text","content":"Advancements of AI/HPC digital infrastructure projects at Lake Mariner 10 EH/s of installed and operational self-mining capacity, up 100.0% Y-o-Y Completion of Building 4 at Lake Mariner in July EASTON, Md., Aug. 05, 2024 (GLOBE NEWSWIRE) -- TeraWulf Inc. (Nasdaq: WULF) (“TeraWulf” or the “Company”), owners and operators of vertically integrated, domestic bitcoin mining facilities powered by 95% zero-carbon energy, today provided an unaudited monthly production and operations update for July 2024. July 2024 Production and Operations Highlights Self-Mined Bitcoin: Mined 195 bitcoin in July with an average production rate of approximately 6.3 bitcoin per day.Operating Capacity: TeraWulf's installed and operational self-mining capacity reached approximately 10 EH/s, representing a 100.0% year-over-year increase.Power Cost: Averaged $36,346 per bitcoin self-mined in July, reflecting an approximate rate of $0.047/kWh and excluding the benefit of expected demand response or ancillary services proceeds, which are expected to be substantial, as described below.Demand Response: The Lake Mariner facility curtailed over 3,400 MWh in connection with demand response activities in July, which is expected to reduce power costs by approximately $0.013/kWh in the month. TeraWulf’s demand response savings represent the equivalent value of approximately 31 BTC using July’s “Value per Bitcoin Self-Mined” in the table below. Key Metrics1 July 2024 June 2024 Bitcoin Self-Mined Lake Mariner 155 136 Bitcoin Self-Mined Nautilus 40 41 Value per Bitcoin Self-Mined2$ 62,887 $ 66,178 Power Cost per Bitcoin Self-Mined$ 36,346 $ 32,373 Avg. Operating Hash Rate (EH/s)3 8.0 7.1 Nameplate Miner Efficiency (J/TH)4 24.6 24.6 Management Commentary “During July, the Company mined 195 bitcoin, equivalent to approximately 6.3 bitcoin per day, an improvement over June’s production due to operational optimization during peak summer temperatures coupled with demand response for grid support,” said Sean Farrell, SVP of Operations at TeraWulf. “The Lake Mariner team has installed a total of approximately 10,000 Bitmain S21 and S21 Pro miners in Building 4 , boosting the Company’s total operating capacity to over 10.0 EH/s with 245 MW of infrastructure operating capacity across its two sites. We expect to utilize this capacity fully during periods of lower energy prices and...