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TeraWulf | 8-K: Current report

SEC announcement ·  Mar 5 13:22
Summary by Moomoo AI
On March 4, 2024, TeraWulf Inc., a company specializing in environmentally clean bitcoin mining, announced the expansion of its energy resources at the Nautilus Cryptomine facility in Pennsylvania. The company exercised an option to add an additional 50 megawatts (MW) to its current capacity, aiming to double its bitcoin mining capacity at the site to 100 MW. This expansion is expected to be operational in 2025 and could support up to 2.5 exahashes per second (EH/s) of mining capacity. TeraWulf's current operations at Nautilus benefit from a fixed-rate contract for zero-carbon power at 2 cents per kilowatt-hour. The announcement came alongside news of Talen's sale of the Cumulus data center campus to Amazon Web Services, highlighting the value of TeraWulf's...Show More
On March 4, 2024, TeraWulf Inc., a company specializing in environmentally clean bitcoin mining, announced the expansion of its energy resources at the Nautilus Cryptomine facility in Pennsylvania. The company exercised an option to add an additional 50 megawatts (MW) to its current capacity, aiming to double its bitcoin mining capacity at the site to 100 MW. This expansion is expected to be operational in 2025 and could support up to 2.5 exahashes per second (EH/s) of mining capacity. TeraWulf's current operations at Nautilus benefit from a fixed-rate contract for zero-carbon power at 2 cents per kilowatt-hour. The announcement came alongside news of Talen's sale of the Cumulus data center campus to Amazon Web Services, highlighting the value of TeraWulf's Lake Mariner facility in New York, which boasts over 300 MW of available capacity. The Nautilus facility, a joint venture with Cumulus Coin, LLC, is notable for being a behind-the-meter operation directly sourcing power from the Susquehanna nuclear generation station. TeraWulf's expansion plans are strategically timed with the upcoming bitcoin halving event, emphasizing the importance of low-cost power for mining operations post-halving.

This announcement is a separate document:

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