TeraWulf Discloses The Exercise Of Its Option To Increase Its Energy Resources By An Additional 50 MW At The Nautilus Facility, Bringing Bitcoin Mining Capacity At The Pennsylvania Site To 100 MW
Portfolio Pulse from Benzinga Newsdesk
TeraWulf Inc. (NASDAQ:WULF) has exercised its option to increase energy resources by an additional 50 MW at the Nautilus facility in Pennsylvania, doubling its bitcoin mining capacity to 100 MW. This expansion, expected to be operational in 2025, will benefit from zero-carbon power at a fixed rate of 2.0 cents per kilowatt-hour. The company highlights the value of its Lake Mariner facility in NY with over 300 MW of available capacity and its position for success post-bitcoin halving due to its low cost of power.
March 04, 2024 | 8:38 pm
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TeraWulf Inc. has announced the doubling of its bitcoin mining capacity at the Nautilus facility, leveraging zero-carbon power at competitive rates. This strategic expansion is expected to significantly enhance its mining capabilities and operational efficiency.
The expansion of TeraWulf's mining capacity at the Nautilus facility directly impacts the company's operational capabilities and future profitability. By securing a low cost of power, TeraWulf is well-positioned to remain competitive in the bitcoin mining industry, especially considering the upcoming bitcoin halving event. This strategic move is likely to be viewed positively by investors, potentially leading to a short-term increase in stock price.
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