Elevated hashrate capability by 25% month-over-month to five.5 EH/s as of June 30, 2023
Self-mined 347 BTC in June, an 8% enhance over Could, for a complete of 909 BTC mined in 2Q 2023 and 1,441 BTC 12 months thus far
EASTON, Md., July 06, 2023 (GLOBE NEWSWIRE) — TeraWulf Inc. (Nasdaq: WULF) (“TeraWulf” or the “Firm”), homeowners and operators of vertically built-in, home bitcoin mining amenities powered by greater than 91% zero-carbon power, as we speak supplied an unaudited month-to-month manufacturing and operations replace for June 2023.
June 2023 Highlights
- Self-mined 347 bitcoin in June with a mean manufacturing price of 11.6 bitcoin per day. As with prior months, all self-mined BTC in June was offered producing proceeds of roughly $9.6 million.
- Energy value averaged $9.3k per bitcoin produced, or roughly $0.035/kWh in June.
- Totally commissioned Constructing 2 on the Lake Mariner facility and achieved 110 MW of self-mining capability sitewide.
- Deployed fleet of over 50,000 miners, comprised of 34,000 miners at its wholly owned Lake Mariner facility in New York and 16,000 self-miners on the nuclear-powered Nautilus facility in Pennsylvania.
Key Metrics 1 | June 2023 | |
Bitcoin Self-Mined 2 | 347 | |
Self-Mining Income Equal ($M) 3 | $9.6 | |
Internet hosting Income ($M) 4 | $0.4 | |
Energy Value ($M) 5 | $3.5 | |
Avg. Working Hash Charge (EH/s) 6 | 4.9 | |
Income per Bitcoin | $27,663 | |
Energy Value per Bitcoin | $9,320 |
Administration Commentary
“Regardless of the rise in community problem and reduce in transaction charges, and lots of of our friends going through downtime and/or curtailed operations on account of geographic focus in Texas, TeraWulf elevated its month-to-month bitcoin manufacturing by 8% in June,” acknowledged Kerri Langlais, Chief Technique Officer of TeraWulf. “Final month, TeraWulf realized a mean energy value of three.5 cents per kilowatt hour and a mean availability in extra of 98% throughout its amenities. The Firm’s low power prices and excessive availability regardless of the excessive summer time temperatures are a testomony to our staff’s many years of power infrastructure administration expertise,” added Langlais.
“The growth of the previous energy block information heart space on the Lake Mariner facility was accomplished close to the top of June, which now holds greater than 4,700 miners (or 0.5 EH/s) – a first-rate instance of how TeraWulf drives down capital expenditures by using legacy power and energy infrastructure to maximise profitability,” continued Langlais. “We proceed to arrange for the subsequent Bitcoin block halving occasion, presently anticipated in April 2024, with a agency perception that every one hash will not be equal. Our demonstrated execution capabilities, substantial natural development alternatives at our two websites, and industry-low energy costs, mirror the energy of TeraWulf’s vertically built-in technique which we anticipate will additional outline us because the main sustainable, low-cost bitcoin miner.”
Manufacturing and Operations Replace
In June, TeraWulf introduced its achievement of 5.5 EH/s of working capability with the completion of Constructing 2 at its Lake Mariner facility. Within the coming weeks, the Firm will activate its remaining slots to carry Lake Mariner’s self-mining hash price to a complete of three.6 EH/s and the entire self-mining hash price to five.5 EH/s and 160 MW of capability throughout its two websites.
As of June 30, 2023, the Firm had an operational miner fleet of roughly 50,000 of the most recent technology miners, comprised of 34,000 miners at its wholly owned Lake Mariner facility in New York (5,000 of that are hosted) and 16,000 self-miners on the nuclear-powered Nautilus facility in Pennsylvania.
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About TeraWulf
TeraWulf (Nasdaq: WULF) owns and operates vertically built-in, environmentally clear Bitcoin mining amenities in the US. Led by an skilled group of power entrepreneurs, the Firm presently has two Bitcoin mining amenities: the wholly owned Lake Mariner facility in New York, and Nautilus Cryptomine facility in Pennsylvania, a three way partnership with Cumulus Coin, LLC. TeraWulf generates domestically produced Bitcoin powered by nuclear, hydro, and photo voltaic power with a aim of using 100% zero-carbon power. With a core give attention to ESG that ties on to its enterprise success, TeraWulf expects to supply engaging mining economics at an industrial scale.
Ahead-Trying Statements
This press launch comprises forward-looking statements inside the that means of the “secure harbor” provisions of the Personal Securities Litigation Reform Act of 1995, as amended. Such forward-looking statements embody statements regarding anticipated future occasions and expectations that aren’t historic details. All statements, apart from statements of historic reality, are statements that might be deemed forward-looking statements. As well as, forward-looking statements are usually recognized by phrases reminiscent of “plan,” “imagine,” “aim,” “goal,” “purpose,” “anticipate,” “anticipate,” “intend,” “outlook,” “estimate,” “forecast,” “venture,” “proceed,” “may,” “could,” “may,” “attainable,” “potential,” “predict,” “ought to,” “would” and different related phrases and expressions, though the absence of those phrases or expressions doesn’t imply {that a} assertion will not be forward-looking. Ahead-looking statements are based mostly on the present expectations and beliefs of TeraWulf’s administration and are inherently topic to numerous elements, dangers, uncertainties and assumptions and their potential results. There may be no assurance that future developments might be these which have been anticipated. Precise outcomes could fluctuate materially from these expressed or implied by forward-looking statements based mostly on numerous elements, dangers, uncertainties and assumptions, together with, amongst others: (1) circumstances within the cryptocurrency mining {industry}, together with fluctuation available in the market pricing of bitcoin and different cryptocurrencies, and the economics of cryptocurrency mining, together with as to variables or elements affecting the price, effectivity and profitability of cryptocurrency mining; (2) competitors among the many numerous suppliers of cryptocurrency mining providers; (3) adjustments in relevant legal guidelines, rules and/or permits affecting TeraWulf’s operations or the industries by which it operates, together with regulation relating to energy technology, cryptocurrency utilization and/or cryptocurrency mining; (4) the power to implement sure enterprise targets and to well timed and cost-effectively execute built-in initiatives; (5) failure to acquire sufficient financing on a well timed foundation and/or on acceptable phrases with regard to development methods or operations; (6) lack of public confidence in bitcoin or different cryptocurrencies and the potential for cryptocurrency market manipulation; (7) the potential of cybercrime, money-laundering, malware infections and phishing and/or loss and interference because of tools malfunction or break-down, bodily catastrophe, information safety breach, laptop malfunction or sabotage (and the prices related to any of the foregoing); (8) the provision, supply schedule and value of kit essential to take care of and develop the enterprise and operations of TeraWulf, together with mining tools and infrastructure tools assembly the technical or different specs required to realize its development technique; (9) employment workforce elements, together with the lack of key staff; (10) litigation regarding TeraWulf, RM 101 f/ok/a IKONICS Company and/or the enterprise mixture; and (11) different dangers and uncertainties detailed infrequently within the Firm’s filings with the Securities and Change Fee (“SEC”). Potential buyers, stockholders and different readers are cautioned to not place undue reliance on these forward-looking statements, which converse solely as of the date on which they have been made. TeraWulf doesn’t assume any obligation to publicly replace any forward-looking assertion after it was made, whether or not because of new info, future occasions or in any other case, besides as required by regulation or regulation. Traders are referred to the total dialogue of dangers and uncertainties related to forward-looking statements and the dialogue of threat elements contained within the Firm’s filings with the SEC, which can be found at www.sec.gov.
Firm Contact:
Jason Assad
Director of Company Communications
assad@terawulf.com
1 Unaudited month-to-month outcomes are based mostly on estimates, which stay topic to straightforward month finish changes. The Firm’s share of the earnings or losses of the Nautilus facility is mirrored within the caption “Fairness in internet lack of investee, internet of tax” within the consolidated statements of operations. Operations at Nautilus don’t impression the income or value of products offered traces in TeraWulf’s consolidated statements of operations.
2 Contains BTC earned from revenue sharing related to short-term internet hosting settlement on the Lake Mariner facility and TeraWulf’s internet share of BTC produced on the Nautilus facility.
3 Contains TeraWulf’s internet share of BTC income generated on the Nautilus facility and revenue sharing from internet hosting settlement.
4 Excludes BTC earned from revenue sharing related to short-term internet hosting settlement on the Lake Mariner facility.
5 Contains TeraWulf’s internet share of energy value incurred on the Nautilus facility.
6 Contains gross whole hash price of miners hosted on short-term settlement on the lake Mariner facility.