Terawulf, a bitcoin mining operation, has announced that it has energized the first nuclear-powered bitcoin mining facility in the United States at the company’s Nautilus Facility in Pennsylvania. According to the company, approximately 1 exahash per second (EH/s) or nearly 8,000 Application Specific Integrated Circuit (ASIC) Bitcoin miners are now online, and another 8,000 mining systems will be delivered soon.
Nuclear Bitcoin Mining – Cornerstone for Carbon Free Bitcoin Mining
Terawulf announced on Monday that the first nuclear-powered underground Bitcoin mining facility is on, with nearly 8,000 ASIC mining rigs already in operation. The current 8,000 represent 1 EH/s of SHA256 hash power, but Terawulf expects to deploy another 8,000 miners in the coming weeks to reach 1.9 EH/s by May. According to the company’s press release about the Nautilus energization, Terawulf will receive a fixed electricity rate of about $0.02 per kilowatt hour (kWh) for the next five years.
The Nautilus facility is considered a milestone as it is the first Bitcoin mining facility of its kind to receive carbon-free power 24/7 from the 2.5 GW Susquehanna Nuclear Power Plant in Pennsylvania. “With the recent power-up 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 in place and turning on daily,” said Paul Prager, chairman and chief CEO of Terawulf, in a statement. “The Nautilus nuclear-powered mining facility benefits from what is arguably the lowest energy cost in the sector, just $0.02/kWh over a five-year period.”
While 2022 was a tough year for Bitcoin mining operations, 2023 was an easier year for Bitcoin miners due to the significant rise in the price of bitcoin (BTC) since the end of last year. In addition, there are several companies expansion mining operations, some located in Pennsylvania. Seven days ago, Mawson Infrastructure Group launched mining operation based in Pennsylvania after leaving Australia. In addition to the 50 MW Nautilus facility, Terawulf announced that it is expanding operations at the Lake Mariner facility in New York. The move will increase Lake Mariner’s operation from 60 MW to 110 MW.
What impact do you think the increasing adoption of nuclear power in Bitcoin mining will have on the cryptocurrency industry and the environment? Share your thoughts in the comments section below.
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