United

Bitcoin

<h2 id="key-points">Key Points</h2>
<ul>
 <li>TeraWulf’s stock saw a 22% increase after mining 186 bitcoins in May.</li>
 <li>The company’s self-mining capacity reached 8.0 EH/s, indicating an 82% rise year-over-year.</li>
</ul>
<p>TeraWulf, a mining firm, experienced a significant surge in stock value during Tuesday’s trading session. The surge came after the company revealed its monthly production report for May, which was the first full month following the most recent <a href="https://crypto.ro/en/cryptocurrencies/bitcoin/" rel="noopener noreferrer nofollow">Bitcoin</a> halving event.</p>
<h2 id="bitcoin-mining-and-stock-surge">Bitcoin Mining and Stock Surge</h2>
<p>The company successfully mined 186 bitcoins throughout May, averaging a production rate of about 6.0 bitcoins per day. TeraWulf’s installed and operational self-mining capacity reached roughly 8.0 EH/s, which is an 82% increase compared to the previous year. The average revenue per self-mined bitcoin in May was $31,239, reflecting a rate of approximately $0.039/kWh.</p>
<p>Bitcoin halving events are set to occur automatically approximately every four years. After each halving, miners receive 50% fewer bitcoins as a reward for every block of transactions they mine and add to the blockchain. However, they continue to earn additional transaction fee rewards for each block mined.</p>
<h2 id="comparison-to-other-mining-companies">Comparison to Other Mining Companies</h2>
<p>Compared to other mining companies like Bitfarms, TeraWulf’s 25% month-over-month post-halving drop (from 249 BTC to 186 BTC) is relatively favorable. Bitfarms reported a 42% drop in bitcoins mined over the same period.</p>
<p>TeraWulf operates vertically integrated, environmentally friendly bitcoin mining facilities in the United States. The company currently operates two Bitcoin mining facilities: the wholly-owned Lake Mariner facility in New York and the Nautilus Cryptomine facility in Pennsylvania, which is a joint venture with Cumulus Coin.</p>
<p>Sean Farrell, SVP of Operations at TeraWulf, stated that remarkable progress is being made on Building 4 at the Lake Mariner facility. This building is expected to complete its construction in June and will house approximately 10,000 of Bitmain’s latest generations of S21 and S21 Pro miners. Once operational, Building 4 is projected to increase the company’s total operating capacity to above 10.0 EH/s.</p>
<p>The positive news led to an increase in TeraWulf’s stock value by 22.4%, closing the day’s trading session at $2.51 per share. Currently, the stock is up by 9.1% in the year-to-date period, and the company’s market capitalization is just under $840 million.</p>

Bitcoin Mining Boom: TeraWulf’s Stocks Soar 22% after Mining 186 BTC

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