• TeraWulf has fired up a new crypto mining facility in Pennsylvania, solely running on nuclear power generated on-site.
• The Nautilus Cryptomine facility is the result of a partnership between TeraWulf’s nuclear mining facility subsidiary and power generation and infrastructure company Talen Energy Corporation.
• The Nautilus Cryptomine directly sources carbon-free baseload power from the 2.5 gigawatt (GW) Susquehanna nuclear generation station on site.
TeraWulf Launches Nuclear Powered Mining Facility in Pennsylvania
Bitcoin mining company TeraWulf has fired up a new “behind the meter” mining facility powered by 100% nuclear power in Pennsylvania. The Nautilus Cryptomine facility is its first such endeavor, using energy directly at the generation site without traveling through the grid. It is powered by the 2.5 gigawatt (GW) Susquehanna nuclear generation station on site and is expected to reach 300 MW when complete, making it one of the largest mines in North America.
Joint Venture Between TeraWulf & Talen Energy Corporation
The Nautilus Cryptomine facility is the result of a joint venture between TeraWulf’s nuclear mining facility subsidiary and power generation and infrastructure company Talen Energy Corporation. Phase 1 of this venture includes 180 MW “Nautilus Cryptomine” built on Talen’s digital infrastructure campus adjacent to its nuclear power plant with 50 MW allocated for Bitcoin mining capacity and an option to add an additional 50 MW in future phases.
Low Cost Power & High Hash Rate
Paul Prager, chairman and CEO of TeraWulf, claims that their new facility has “arguably the lowest cost power in the sector,” just $0.02/kWh for a term of five years.” In addition, they have brought online nearly 8,000 mining rigs representing computing power or hash rate of 1 EH/s with plans for another 8,000 miners by May increasing hash rate to 1.9 EH/s.
100% Zero Carbon Energy Goal
TeraWulf aims to generate domestically produced BTC powered by zero-carbon energy sources such as nuclear, hydro, and solar energy with a goal of utilizing 100% zero-carbon energy. As part of this initiative they are committed to reducing their carbon footprint while also providing competitive pricing for customers who want access to clean energy without sacrificing performance or reliability.
The launch of this new low cost yet powerful Bitcoin mining operation marks an important milestone for both crypto miners and renewable energy advocates alike as it demonstrates how these two industries can work together towards achieving environmental sustainability goals while still delivering profitable results for investors over time