TeraWulf, a US-based crypto mining company, announced the full activation of its 50-megawatt stake in the Nautilus Cryptomine facility, the first-ever nuclear-powered Bitcoin mining plant in the country.
The facility’s mining operations are powered by more than 91% zero-carbon energy, making it a more sustainable alternative to traditional mining. The company successfully deployed 50 MW of mining capacity ahead of schedule and plans to add another 50 MW in future phases.
With an operational fleet of around 34,500 miners, TeraWulf has achieved a significant milestone with the activation of its Nautilus facility. The facility is the first-ever nuclear-powered Bitcoin mining plant in the US and offers the company an opportunity to realize economic benefits through zero-carbon mining at one of the lowest contracted power costs in the industry.
The fleet includes 16,000 self-miners at the Nautilus facility and 18,500 miners at TeraWulf’s wholly-owned Lake Mariner facility in New York. The company plans to achieve 5.5 EH/s of operational mining capacity in Q2 2023. The activation of the Nautilus facility is a significant achievement for TeraWulf, as it positions the company as a leader in zero-carbon mining while providing a unique opportunity to leverage nuclear power for Bitcoin mining. By Q2 2023, TeraWulf expects to have a total operational capacity of 50,000 miners, presenting a power demand of approximately 160 MW.
