artiemedvedev/iStock via Getty Images
TeraWulf (NASDAQ:WULF) said Monday it energized around half of its 50-MW stake in the nuclear-powered Nautilus Cryptomine facility, its joint venture with cryptocurrency miner Cumulus Coin, bringing ~8K miners online.
This represents a hash rate capacity of ~1.0 EH/s.
The facility is the first behind-the-meter bitcoin (BTC-USD) mining site that sources power from the Susquehanna nuclear power station in Pennsylvania.
TeraWulf (WULF) expects to energize the remaining miners (~8K) over the coming weeks, with its share in phase one of the facility expected online by May (50 MW and 1.9 EH/s).
The company has the option to add additional 50 MW of mining capacity at the facility, which it plans to deploy in future phases.
TeraWulf (WULF) is expanding mining operations at its wholly owned Lake Mariner facility in New York, which will increase its operational capacity from 60 MW to 110 MW.
With both facilities combined, TeraWulf (WULF) expects to have total operational capacity of 50K miners (5.5 EH/s) in early Q2, representing ~160 MW of power demand.
Cumulus Coin is owned by independent power producer Talen Energy.
Earlier, TeraWulf’s (WULF) BTC production rises over 25% sequentially in January.
