TeraWulf Enhances Bitcoin Mining Capacity with Purchase of 18,500 Antminer S19j XP Machines
TeraWulf, a Bitcoin mining firm, is set to boost its self-mining hashrate by 58% through the acquisition of 18,500 Antminer S19j XP bitcoin mining machines from Bitmain. The purchase, worth $53.4 million, will enable TeraWulf to expand its operations at the Lake Mariner facility in New York. The company aims to establish itself as one of the most efficient mining fleets in the industry, with a fleet efficiency of 25.7 J/TH. By optimizing its hashing capacity and taking advantage of low power costs and high availability, TeraWulf aims to increase its profit margins ahead of the next halving.
Key points:
– TeraWulf will increase its self-mining hashrate by 58% with the purchase of 18,500 Antminer S19j XP bitcoin mining machines from Bitmain.
– The new machines will be deployed at TeraWulf’s Lake Mariner facility in New York.
– TeraWulf aims to become one of the most efficient mining fleets in the sector, with a fleet efficiency of 25.7 J/TH.
– The company benefits from a low average cost of power (3.5 cents per kilowatt hour) and high availability (over 98%).
– The machines will be delivered to TeraWulf in equal batches between October and December.
Hot Take
TeraWulf’s strategic move to enhance its Bitcoin mining capacity by acquiring additional mining machines demonstrates its commitment to staying ahead in the competitive crypto mining industry. By optimizing efficiency, taking advantage of low power costs, and increasing hashing capacity, TeraWulf aims to position itself for increased profit margins. This expansion not only strengthens TeraWulf’s mining capabilities but also solidifies its position as a key player in the rapidly evolving world of cryptocurrency.
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