7.9 EH/s of installed and operational self-mining capacity
Building 4 (35 MW) at
- Self-mined 364 bitcoin in February with an average production rate of over 12.5 bitcoin per day.
- Power cost averaged
$13,968 per bitcoin self-mined, or approximately$0.037 /kWh in February, which excludes the benefit of expected demand response or ancillary services proceeds.
- Average operating hashrate increased 39% month-over-month to 7.5 EH/s in February.
- The Company foresees exiting March with a self-mining capacity surpassing 8.0 EH/s, primarily attributable to the acquisition of approximately 4,000 Bitmain S19k Pro miners in February, a portion of which are intended to replace approximately 2,000 MinerVa miners deployed at the
Lake Mariner facility.
Key Metrics 1 | ||||
Bitcoin Self-Mined | 276 | 204 | ||
Bitcoin Self-Mined Nautilus3 | 88 | 109 | ||
Value per Bitcoin Self-Mined 4 | ||||
Power Cost per Bitcoin Self-Mined 5 | ||||
Avg. Operating | 7.5 | 5.4 |
Management Commentary
“During February, the Company mined 364 bitcoin, a 16% increase from January’s bitcoin production despite a shorter month, due to full deployment of Building 3 at
“Energy pricing at
Production and Operations Update
Operational infrastructure capacity at the
As previously announced, the Company is pursuing a potential large-scale, high-performance computing (HPC) project at the
About
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, as amended. Such forward-looking statements include statements concerning anticipated future events and expectations that are not historical facts. All statements, other than statements of historical fact, are statements that could be deemed forward-looking statements. In addition, forward-looking statements are typically identified by words such as “plan,” “believe,” “goal,” “target,” “aim,” “expect,” “anticipate,” “intend,” “outlook,” “estimate,” “forecast,” “project,” “continue,” “could,” “may,” “might,” “possible,” “potential,” “predict,” “should,” “would” and other similar words and expressions, although the absence of these words or expressions does not mean that a statement is not forward-looking. Forward-looking statements are based on the current expectations and beliefs of TeraWulf’s management and are inherently subject to a number of factors, risks, uncertainties and assumptions and their potential effects. There can be no assurance that future developments will be those that have been anticipated. Actual results may vary materially from those expressed or implied by forward-looking statements based on a number of factors, risks, uncertainties and assumptions, including, among others: (1) conditions in the cryptocurrency mining industry, including fluctuation in the market pricing of bitcoin and other cryptocurrencies, and the economics of cryptocurrency mining, including as to variables or factors affecting the cost, efficiency and profitability of cryptocurrency mining; (2) competition among the various providers of cryptocurrency mining services; (3) changes in applicable laws, regulations and/or permits affecting TeraWulf’s operations or the industries in which it operates, including regulation regarding power generation, cryptocurrency usage and/or cryptocurrency mining, and/or regulation regarding safety, health, environmental and other matters, which could require significant expenditures; (4) the ability to implement certain business objectives and to timely and cost-effectively execute integrated projects; (5) failure to obtain adequate financing on a timely basis and/or on acceptable terms with regard to growth strategies or operations; (6) loss of public confidence in bitcoin or other cryptocurrencies and the potential for cryptocurrency market manipulation; (7) adverse geopolitical or economic conditions, including a high inflationary environment; (8) the potential of cybercrime, money-laundering, malware infections and phishing and/or loss and interference as a result of equipment malfunction or break-down, physical disaster, data security breach, computer malfunction or sabotage (and the costs associated with any of the foregoing); (9) the availability, delivery schedule and cost of equipment necessary to maintain and grow the business and operations of
Company Contact:
Director of Corporate Communications
assad@terawulf.com
(678) 570-6791
1 The Company’s share of the earnings or losses from operations at the Nautilus Cryptomine facility is reflected within “Equity in net income (loss) of investee, net of tax” in the consolidated statements of operations. Accordingly, operating results of the Nautilus Cryptomine facility are not reflected in revenue, cost of revenue or cost of operations lines in TeraWulf’s consolidated statements of operations. The Company uses these metrics as indictors of operational progress and effectiveness and believes they are useful to investors for the same purposes and to provide comparisons to peer companies. All figures except Bitcoin Self-Mined are estimates and remain subject to standard month-end adjustments.
2 Includes 0.4 bitcoin and 5 bitcoin earned in February and January, respectively, from profit sharing associated with a hosting agreement at the
3 Includes TeraWulf’s net share of bitcoin mined at the Nautilus Cryptomine facility, based on hashrate share attributed to the Company.
4 Computed as the weighted-average opening price of bitcoin on each respective day the Bitcoin Self-Mined is earned.
5 Excludes hashrate associated with 0.4 bitcoin and 5 bitcoin earned in February and January, respectively, from profit sharing associated with a hosting agreement.
6 While nameplate inventory as of
Source:
2024 GlobeNewswire, Inc., source