Terawulf has made history by being the first company to launch a nuclear-powered bitcoin mining facility in the United States, at their Nautilus facility in Pennsylvania. The facility is currently running 8,000 application specific integrated circuits (ASICs) at a rate of 1 exahash per second (EH/s). The company plans to add 8,000 more mining rigs in the near future.
Nuclear-Powered Bitcoin Mining: A Milestone for Carbon-Free Cryptocurrency Mining
Terawulf announced Monday that the first nuclear-powered bitcoin mining facility went online at the Nautilus site. The 8,000 ASICs are delivering 1 EH/s in SHA256 hashpower. In the upcoming weeks, the company intends to expand this capacity by adding 8,000 more miners, reaching up to 1.9 EH/s. Terawulf is also benefiting from a fixed rate of $0.02 per Kilowatt-hour (kWh) for the next five years.
The Nautilus facility is a landmark due to its carbon-free energy sourced from the 2.5 GW Susquehanna nuclear plant in Pennsylvania. “With the recent energization of the Nautilus facility earlier this month, approximately 16,000 of Terawulf’s owned miners, representing 1.9 EH/s of self-mining capacity, are on-site and being brought online daily,” said Paul Prager, chairman and CEO of Terawulf. “The Nautilus nuclear-powered mining facility benefits from what is arguably the lowest cost power in the sector, just $0.02/kWh for a term of five years.”
The year 2022 was a challenging one for bitcoin miners due to the rapid rise in the bitcoin (BTC) price, however, 2023 has been more favorable. Several companies are increasing their mining operations, some, like Mawson Infrastructure Group, have even left countries like Australia to relocate to Pennsylvania. In addition to the 50-MW Nautilus facility, Terawulf announced that it will be expanding operations at its Lake Mariner Facility in New York, bringing the total up to 110 MW.
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