TeraWulf Announces February 2024 Production And Operations Update; 7.9 EH/s Of Installed And Operational Self-Mining Capacity; Self-Mined 364 Bitcoin In February With An Average Production Rate Of Over 12.5 Bitcoin Per Day
Portfolio Pulse from Benzinga Newsdesk
TeraWulf Inc. (NASDAQ:WULF) reported its February 2024 production and operations update, highlighting a 16% increase in bitcoin mining to 364 bitcoins with an average daily production rate of over 12.5 bitcoins. The company's operational hashrate increased by 39% month-over-month to 7.5 EH/s, with a self-mining capacity expected to surpass 8.0 EH/s in March. TeraWulf's power cost per bitcoin was $13,968, and it is on track to expand its capacity to 10 EH/s by mid-2024 with the completion of Building 4 at the Lake Mariner facility.
March 04, 2024 | 1:15 pm
News sentiment analysis
Sort by:
Ascending
POSITIVE IMPACT
TeraWulf Inc. reported a significant increase in bitcoin mining for February 2024, with a 16% increase in production and a decrease in power cost per bitcoin. The company's operational hashrate increased, and it is on track for further expansion by mid-2024.
The positive production and operations update for February 2024, including increased bitcoin mining, reduced power costs, and an operational hashrate increase, suggests a strong performance by TeraWulf. The ongoing expansion and operational improvements are likely to positively impact investor sentiment and the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100