Business
TeraWulf Announces May 2023 Production and Operations Updates
Self-mined 323 BTC in May, a 35% increase over April, for a total of 1,094 BTC mined year to date. Increased hash rate capacity by over 13% month-over-month
About this update from Terawulf Inc.
[{"type":"text","content":"Self-mined 323 BTC in May, a 35% increase over April, for a total of 1,094 BTC mined year to date. Increased hash rate capacity by over 13% month-over-month to 4.4 EH/s as of May 31, 2023. EASTON, Md., June 05, 2023 (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 May 2023. May 2023 Highlights Self-mined 323 bitcoin in May with an average production rate of 10.4 bitcoin per day.Power cost averaged $6.2k per bitcoin produced, or approximately $0.028/kWh in May.Deployed fleet of 36,000 miners, comprised of 20,000 miners at its wholly owned Lake Mariner facility in New York and 16,000 self-miners at the nuclear-powered Nautilus facility in Pennsylvania.Commenced operations in Building 2 at the Lake Mariner facility, where the Company continues to ramp to the full 50 MW of self-mining capacity, which remains on target for Q2 2023. Key Metrics 1May 2023 Bitcoin Self-Mined 2323 Self-Mining Revenue Equivalent ($M) 3$8.9 Hosting Revenue ($M) 4$0.3 Power Cost ($M) 5$2.2 Avg. Operating Hash Rate (EH/s) 63.9 Revenue per Bitcoin$27,519 Power Cost per Bitcoin$6,251 ________________________1 Unaudited monthly results are based on estimates, which remain subject to standard month end adjustments. The Company’s share of the earnings or losses of the Nautilus facility is reflected in the caption “Equity in net loss of investee, net of tax” in the consolidated statements of operations. Operations at Nautilus do not impact the revenue or cost of goods sold lines in TeraWulf’s consolidated statements of operations.2 Includes BTC earned from profit sharing associated with short-term hosting agreement at the Lake Mariner facility and TeraWulf’s net share of BTC produced at the Nautilus facility.3 Includes TeraWulf’s net share of BTC revenue generated at the Nautilus facility and profit sharing from hosting agreement.4 Excludes BTC earned from profit sharing associated with short-term hosting agreement at the Lake Mariner facility.5 Includes TeraWulf’s net share of power cost incurred at the Nautilus facility.6 Includes gross total hash rate of miners hosted on short-term agreement at the lake Mariner facility. Management Co...