TeraWulf Inc. reported a notable increase in its bitcoin mining capacity and operations for May 2024. The <a href="https://ultramining.com/news/en/terawulf-soars-to-record-revenue-with-330-btc-mined-in-july-2023/">company mined</a> 186 bitcoins during the month, reflecting the first full month of reduced block rewards post-April halving. This resulted in an average production rate of about 6 bitcoins per day. TeraWulf's power cost per bitcoin mined was $31,239, with an average power rate of $0.039/kWh, according to <a href="https://investors.terawulf.com/news-events/press-releases/detail/79/terawulf-announces-may-2024-production-and-operations-update">Terawulf</a>. 
The company achieved a significant milestone with an installed and operational self-mining capacity reaching 8.0 EH/s, an 82% year-over-year increase. TeraWulf's Lake Mariner facility is on track to complete Building 4 in June, which will house around 10,000 of <a href="https://ultramining.com/en/manufacturers/bitmain/">Bitmain</a>’s latest S21 and S21 Pro miners. This expansion is expected to boost the company's total operational capacity to over 10.0 EH/s in the second half of 2024. 
Additionally, TeraWulf is advancing a 2.0 MW AI/HPC digital infrastructure pilot at Lake Mariner, designed to accommodate next-generation <a href="https://ultramining.com/news/en/kaspa-takes-the-lead-in-gpu-mining-sets-sights-on-transforming-pow-landscape/">GPU</a> technology. This pilot focuses on innovative features and strong data security measures, meeting SOC 2 standards. 
Operational highlights for May included the deployment of 160 MW capacity at Lake Mariner and 50 MW at the Nautilus facility, maintaining an overall self-mining hash rate of approximately 8.0 EH/s. Despite facing temporary performance reductions due to breaker trips and fan blade installations at Nautilus, the facility's performance was optimized. 
Looking ahead, TeraWulf plans to optimize a 50 MW modular building for Building 5, anticipated to be online in Q1 2025. The company’s commitment to using 95% zero-carbon energy resources, including nuclear, hydro, and solar, underscores its focus on environmentally clean bitcoin mining operations

TeraWulf Achieves Significant Milestones in May 2024 Bitcoin Mining Update

Ultramining_Eng

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