Business
TeraWulf Announces November 2023 Production and Operations Updates
Self-mined 323 BTC in November for a total of 3,067 BTC self-mined year-to-date. Increased total capacity participating in demand response programs at the
About this update from Terawulf Inc.
[{"type":"text","content":"Self-mined 323 BTC in November for a total of 3,067 BTC self-mined year-to-date. Increased total capacity participating in demand response programs at the Lake Mariner facility. EASTON, Md., Dec. 04, 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 November 2023. November 2023 Highlights Self-mined 323 bitcoin in November with an average production rate of over 10.8 bitcoin per day.Power cost averaged $11.3k per bitcoin produced, or approximately $0.037/kWh in November. Key Metrics 1November 2023Bitcoin Self-Mined 2323Value per Bitcoin Self-Mined 3$36,500Power Cost per Bitcoin Self-Mined$11,277Avg. Operating Hash Rate (EH/s) 45.2 Management Commentary “During November, the Company mined 323 bitcoin, a 3% increase from October’s bitcoin production, due to higher network transaction fees and over 95% availability from our 5 EH/s of self-mining capacity,” said Sean Farrell, SVP of Operations at TeraWulf. “Both of our facilities, Lake Mariner in New York and Nautilus Cryptomine in Pennsylvania, demonstrated strong operating performance during November,” added Farrell. “Additionally, the Lake Mariner facility exceeded requirements for the facility’s participation in an operating reserve program with NYISO, nearly doubling the capacity qualified to participate and providing further revenue offsets to the already below-average industry cost of power sourced at the site.” Production and Operations Update As of November 30, 2023, the Company had an operational miner fleet of approximately 50,000 of the latest generation miners, comprised of 34,000 miners at its wholly owned Lake Mariner facility in New York (5,000 of which are hosted pursuant to an agreement expiring in December 2023) and 16,000 self-miners at the nuclear-powered Nautilus facility in Pennsylvania. About TeraWulf TeraWulf (Nasdaq: WULF) owns and operates vertically integrated, environmentally clean bitcoin mining facilities in the United States. Led by an experienced group of energy entrepreneurs, the Company currently has two Bitcoin mining facilities: the wholly owned Lake Mariner Data facility in New York, and Nautilus Cryptomine facilit...