Terawulf Inc.
TeraWulf Announces December 2024 Production and Operations Update
Summary
TeraWulf Inc. announced its December 2024 production and operations update, highlighting self-mined bitcoin, operating capacity, and power costs. The company secured high-performance computing (HPC) data center leases with Core42 for over 70 MW of digital infrastructure, representing potential revenue exceeding $1 billion over the initial 10-year term. TeraWulf self-mined 158 bitcoin in December, totaling 2,728 bitcoin year-to-date and 423 in Q4 2024. The company achieved an installed self-mining capacity of 9.7 EH/s, a 94% year-over-year increase. Average power cost per bitcoin mined was $62,805, equivalent to approximately $0.078/kWh, excluding proceeds from demand response and ancillary services.
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About Terawulf Inc.
Terawulf Inc. is a company specializing in sustainable crypto mining practices, an increasingly important aspect of the burgeoning blockchain and cryptocurrency sectors. Terawulf operates by harnessing environmentally conscious solutions to power its data centers, aimed at reducing the carbon footprint typically associated with cryptocurrency mining operations. This commitment to sustainability is reflected in their strategic choice of locations and energy sources, often leveraging renewable resources to fuel mining activities. The company's operations are crucial in addressing the environmental concerns within the crypto industry, striving to make digital currencies more eco-friendly. Positioned at the intersection of tech innovation and environmental stewardship, Terawulf plays a significant role in pushing the market towards greener technological solutions and supports the broader adoption of digital assets by reducing the environmental impact of their production.
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