TeraWulf Announces April 2024 Production And Operations Update; Self-Mined 348 Bitcoin In April
Portfolio Pulse from Benzinga Newsdesk
TeraWulf Inc. (NASDAQ:WULF) announced its April 2024 production and operations update, revealing it self-mined 348 Bitcoin with an 8.0 EH/s hash rate and 98% utilization. The company is nearing completion of Building 4 at Lake Mariner, aiming for a 10.0 EH/s capacity by mid-2024. Operational improvements include replacing older miners with 3,000 S19k Pro miners, increasing the total to 4,100. Despite a 5% decrease in production from March, transaction fees post-Bitcoin halving mitigated revenue losses. TeraWulf is also advancing a high-performance computing/AI project at Lake Mariner.
May 02, 2024 | 12:20 pm
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TeraWulf Inc. reported mining 348 Bitcoin in April 2024, with significant operational and infrastructure developments, including nearing completion of a new building and upgrading mining equipment.
The positive production update, including the increase in mining efficiency and capacity expansion plans, is likely to be viewed favorably by investors. The successful replacement of older miners and the nearing completion of Building 4, which will increase operational capacity, indicate strong operational progress. Additionally, the company's adaptation to post-halving conditions and its venture into high-performance computing/AI projects may signal diversified growth avenues, potentially boosting investor confidence and stock price in the short term.
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