TeraWulf makes Pennsylvania home to Nuclear powered bitcoin mining facility
TeraWulf – a mining operator of a domestically-based facility – becomes the first that made Pennsylvania home to Nuclear powered bitcoin mining facility.
Bitcoin is a digital currency and the process of creating bitcoin is called ‘Mining’. It requires a lot of energy to mine a bitcoin. Getting the right equipment was the major obstacle and concern of the miners in mining crypto a while back. However, the concerns have evolved with time. Crypto mining can have negative impacts on energy consumption and the environment alike, which is the main concern these days.
Recently, TeraWulf, in an attempt to address all of these concerns at wide. They opened a mining facility, exquisitely Nuclear-powered in Pennsylvania.
TeraWulf initiates environment-friendly mining facility
TeraWulf is an American-based company that operates a Bitcoin mining facility. They use and even promote the use of clean energy to power their mining facilities. Recently they became the first mining facility to use Nuclear power to generate electricity for Bitcoin mining. TeraWulf is the first ever facility to take this initiative only to address the climatic and environmental concerns related to mining.
Furthermore, they are using the Nautilus crypto mining facility. Which sources its power from the Susquehanna Nuclear generation station situated in Pennsylvania. This means that their mining equipment and machines will run on carbon-free, continuous, and reliable energy. Leaving little to least negative impact on the environment.
This is the first Bitcoin mining facility that will run by the energy generated on the site rather than being transmitted through a power grid to a remote location. TeraWulf has installed 8000 mining machines at the Nautilus Facility. Thus can process a lot of bitcoin transactions. this corresponds to a hash rate capacity of 1.0 EH/s.
Nuclear-powered Bitcoin mining is the future
TeraWulf along with Talen Energy is working on setting up its operations in a data center located in Susquehanna, Pennsylvania. What makes these data centers special is that they are also powered by Nuclear Energy.
CEO and chairman of TeraWulf, Paul Prager stated :
“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 onsite and being brought online daily. 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. We look forward to continuing to work alongside Cumulus Coin as the Nautilus facility increases the operational hash rate in the coming weeks.”
TeraWulf is also looking to expand its mining facilities to New York. They are extending their bitcoin mining operations at the Lake Mariner facility in NY owned by wholly. Moreover, they intend to increase the operational potential from 60 MW to 110 MW with the addition of building 2.
In addition, by the start of 2023, the company intends to build a facility with 50,000 miners that require 160 MW of energy supply.