Business
TeraWulf Announces November 2024 Production and Operations Update
Completed critical electrical upgrades to support Lake Mariner HPC hosting and mining buildings Remain on schedule to deliver 72.5 MW of HPC hosting capacity
About this update from Terawulf Inc.
[{"type":"text","content":"Completed critical electrical upgrades to support Lake Mariner HPC hosting and mining buildings Remain on schedule to deliver 72.5 MW of HPC hosting capacity by the end of Q2 2025 Successfully installed approximately 7,400 state-of-the-art S21 Pro miners Achieved 8.4 EH/s of operational self-mining capacity, a 68% year-over-year increase EASTON, Md., Dec. 03, 2024 (GLOBE NEWSWIRE) -- TeraWulf Inc. (Nasdaq: WULF) (“TeraWulf” or the “Company”), a leading owner and operator of vertically integrated, next-generation digital infrastructure powered by predominantly zero-carbon energy, today provided its unaudited monthly production and operations update for November 2024. November 2024 Production and Operations Highlights Bitcoin Production: Self-mined 115 bitcoin, with an average daily production rate of approximately 3.8 bitcoin.Operating Capacity: Maintained 8.4 EH/s of operational self-mining capacity, a 68.0% year-over-year increase.Power Costs: Achieved an average power cost of $41,190 per bitcoin mined, equivalent to approximately $0.051/kWh, excluding proceeds from demand response and ancillary services.Miner Upgrades: Advanced the miner refresh program at Lake Mariner, replacing legacy S19 Pro/J-Pro and M30s+ models with approximately 7,400 S21 Pro miners.Electrical Upgrades: Completed a planned outage to connect high-voltage redundant power feeds, temporarily affecting approximately 5.3 EH/s of miners. Key Metrics1November 2024 October 2024 Bitcoin Self-Mined 115 150 Value per Bitcoin Self-Mined2$83,947 $65,427 Power Cost per Bitcoin Self-Mined$41,190 $36,789 Avg. Operating Hash Rate (EH/s)3 5.9 6.8 Nameplate Miner Efficiency (J/TH)4 19.2 22.0 _______________1 All figures except Bitcoin Self-Mined are estimates and remain subject to standard month-end adjustments.2 Computed as the weighted-average opening price of bitcoin on each respective day the Bitcoin Self-Mined is earned.3 While nameplate mining inventory as of November 30, 2024 for Lake Mariner is estimated at 9.7 EH/s, actual monthly hash rate performance depends on a variety of factors, including (but not limited to) performance tuning to increase efficiency and maximize margin, scheduled outages (scopes to improve reliability or performance), unscheduled outages, curtailment due to participation in various cash generating demand response programs, derate of ASICS d...