TeraWulf energizes half of 50-MW stake in the Nautilus Cryptomine facility

TeraWulf announced that the company has now energized roughly half of its 50-MW stake in the Nautilus Cryptomine facility, a joint venture with Cumulus Coin. The Nautilus facility represents the first behind-the-meter bitcoin mining facility of its kind, directly sourcing reliable, carbon free, and 24×7 baseload power from the 2.5 GW Susquehanna nuclear generation station in Pennsylvania. Currently, the company has brought nearly 8,000 of its miners online, representing a hash rate capacity of approximately 1.0 EH/s. Energization of the company’s remaining miners will continue over the coming weeks, with TeraWulf’s full share in phase one of the facility – 50 MW and 1.9 EH/s – expected online by May. TeraWulf has the option to add an additional 50 MW of bitcoin mining capacity at the Nautilus facility, which the company plans to deploy in future phases. In addition to ramping its 50-MW stake in the Nautilus facility, TeraWulf is currently expanding bitcoin mining operations at its wholly owned Lake Mariner facility in New York with the addition of Building 2, which will increase the facility’s operational capacity from 60 MW to 110 MW. Combined, the company expects to have a total operational capacity of 50,000 miners in early Q2, representing approximately 160 MW of power demand.