Bitcoin miners are turning a local commodity (in $WULF ‘s case, abundant, low-cost, zero-carbon energy) into hash, generating a GLOBAL store of value:
#Bitcoin
⛏
What other industries are doing this?
With this final payment totaling $77.5 million, $WULF now has no outstanding debt and has thereby maximized financial flexibility to scale and deploy its valuable and low-cost energy infrastructure for
#bitcoin
mining and high-performance computing (HPC)/AI applications 🐺
$WULF Announces $22 Million Debt Repayment and Increase in Self-Mining Capacity 🐺
⛏️ Achieved 7.6 EH/s of self-mining online in February and expect to reach 8 EH/s of owned hashrate in Q1 2024 and 10 EH/s by mid-2024
⛏️ $22 million debt repayment extends cash flow sweep to
Aaaand looks like we're already hashing in Building 4 👀😎⛏️ In the past week, $WULF has been loading up miners in our newest mining building at Lake Mariner. Even with an already aggressive construction schedule, we can say that we are officially hashing AHEAD OF SCHEDULE in
Last miner is officially RACKED in Building 3 at Lake Mariner and final breaker has been switched on 🙌 Huge thank you to the $WULF ops team for their dedication and hard work! 🙏⛏️
2024 has just begun 🐺
TeraWulf Announces March 2024 Production and Operations Update 🐺
⛏️ Self-mined 379
#bitcoin
or ~12.2 BTC per day
⛏️ Power cost averaged $13,798 per BTC self-mined or ~$0.035/kWh
⛏️ Increased installed hash rate to 8 EH/s, replacing ~1,000 older gen miners with S19k Pros
⛏️
Quick construction update for the $WULF pack 🐺 Miner Building 4 foundation and skeleton complete and loading switchgear in this week! One of the benefits of having 500+ MW of capacity at just one
#bitcoin
mining site is that you develop a good sense of the process over time and
$WULF December 2023 Production and Operations Update is LIVE 🐺⛏️
Highlights 👉
⛏️ Self-mined 334
#bitcoin
, averaging just over 10 per day
⛏️ Power cost averaged $11,212 per bitcoin self-mined, ~$0.038/kWh
⛏️ Building 3 at the Lake Mariner facility is operationally ready with
$WULF Reports Fully Funded 7.9 EH/s and Future Expansion Plans 🐺🙌
⛏ Fully funded 7.9 EH/s, increasing self-mining capacity by 58%
⛏ Building 3 at the Lake Mariner facility now fully operational
⛏ Planning for additional growth with construction of Building 4 already
$WULF May '24 Production & Operations Report 🐺
⛏ Self-mined 186
#bitcoin
, or ~6.0 bitcoin per day
⛏ Power cost averaged $31,239 per bitcoin self-mined, or ~$0.039/kWh (excluding benefit of demand response or ancillary services proceeds)
⛏ 82% year-over-year increase in
$WULF 🐺👉
⚡️ Has one of the most competitive energy costs in the
#Bitcoin
sector (average $0.035/kWh)
📈 Has >210 MW of operational
#bitcoinmining
infrastructure, with the ability to nearly triple that amount across its CURRENT sites (>340 MW of expansion capability at Lake
At $WULF, our financial objectives are clear and simple: Maximize Profits -> Repay Debt -> Return Value to Our Shareholders 📈 All while providing our investors access through transparency and accountability 🤝
$WULF June '24 Production and Operations Highlights 🐺⛏️
Self-Mined Bitcoin: Mined 177 bitcoin in June or ~5.9
#bitcoin
per day.
Operating Capacity: Installed and operational self-mining capacity reached ~8.8 EH/s, a 76% YOY increase.
Power Cost: Avg. of $32,373 per bitcoin
TeraWulf Announces April 2024 Production and Operations Update 🐺
⛏️ Achieved Company mining fleet utilization record of 98%
⛏️ Self-mined 348
#bitcoin
or ~11.6 BTC per day
⛏️ Power cost averaged $16,058 per BTC self-mined or ~$0.038/kWh
⛏️ Remaining older gen miners at Lake
Completing the final activities on the 2 MW
#AI
#HPC
proof-of-concept project, aka "The $WULF Den," at Lake Mariner, designed to support the latest GPU’s with liquid cooling 💦❄️ and >100 kW rack density 🐺
Check out the completed chiller pad in the photos below 👇
TeraWulf's Second Quarter 2024 Financial Results 🐺
🔵 Q2 2024 Revenue of $35.6 million, gross profit (exclusive of depreciation) of $21.7 million and Non-GAAP Adjusted EBITDA of $19.5 million
🔵 Revenue growth of 130.2% year-over-year for the three-month period ended June 30,
TeraWulf Announces February 2024 “Leap Month” Production and Operations Update 🐺📈
⛏ Self-mined 364
#bitcoin
, or over 12.5 bitcoin per day
⛏ Power cost averaged $13,968 per bitcoin self-mined, or ~$0.037/kWh (excluding benefit of demand response or ancillary services
$WULF July '24 Production and Operations Highlights 🐺⛏️
Self-Mined Bitcoin: Mined 195
#bitcoin
in July, or ~6.3 per day.
Operating Capacity: Installed and operational self-mining capacity reached ~10 EH/s this past month, a 100.0% YOY increase.
Power Cost: Avg. of $36,346 per
Its official! $WULF has energized Building 2 at Lake Mariner for another 50 MW and 15,000
#bitcoin
mining slots to pave the way to 5.5 EH!
In the first video you can see us performing the official flip switch 🔃 to energize the miners, and in the second you can hear them at work
$WULF's financial objectives 👉
✔️ Maximize Profits
✔️ Repay Debt
✔️ Return Value to Shareholders
Thanks to
#BTC
's recent moves, we're well on our way to achieving our objectives 📈🐺
$WULF team got the chance to tour a
@MerkleStandard
+
@BITMAINtech
site last week near Spokane after the
@HPE
Conference in Vegas. R&D is always on our horizon as we search for new technologies in the
#BTC
and
#AI
#HPC
space to future proof our infrastructure, like the
$WULF entered 2023 at 1.5 EH/s of
#bitcoin
mining capacity and grew to 5.5 EH/s by year-end ⛏ We're extremely proud of what we accomplished last year, and can't wait to see what opportunities 2024 will bring us 🐺 Let's mine!
The Lake Mariner team unboxing, preparing, and mining a new round of
@BITMAINtech
S19j XP deliveries! ⛏️👊 We’ll be hitting 7.9 EH/s before we know it 🐺
Our Lake Mariner
#bitcoin
mining facility was right in the path of yesterday's eclipse, and we wanted to share this time-lapse of the event (featuring our newest mining building). Pretty cool 🤩⛏️
✔️ Building 4 construction - complete ahead of schedule
✔️ Building 5 construction - has officially commenced
✔️ 'WULF Den' Project - in final stages, on target for completion by end of Q3
✔️ 20 MW Co-location pilot facility - in development, expected to be completed by year-end
Why is $WULF getting into AI?
Simple answer: There's an ever-increasing demand for HPC and, similarly, an increase in HPC/AI's demand for low-cost, carbon free energy infrastructure - one of TeraWulf's greatest assets. We're
#Bitcoin
miners first and foremost, but not opposed to
"Using our 'Cost-to-Mine Calculator' and the guidance in our July Investor deck, combined with a
#Bitcoin
price of $50k and a network hash rate of 580 EH/s, we estimate our total mining cost to be approximately $25k per BTC. This positions us favorably to generate substantial
"We view this not as a strategic shift, but rather as an evolution of our core energy infrastructure competencies... Reflecting on our $BTC mining endeavors, our primary value proposition has always been providing low-cost, zero-carbon energy and scalable data center
BIG news in AI 👇 and $WULF is uniquely positioned to lead the way in building essential infrastructure for next-gen AI and HPC capabilities 🐺
@BlackRock
is planning a more than $30B artificial intelligence investment fund with
@Microsoft
to build data centers and energy
Exactly two years ago today, TeraWulf energized their very first
#Bitcoin
miners at the power block of a retired coal plant - the Lake Mariner facility in Upstate New York. That site is now operating three
#bitcoinmining
buildings with 163 MW of capacity, and growing 📈
The
$WULF has just announced its 7.9 EH/s Expansion Plan and purchase of 18,500 S19j XP Bitcoin Miners from
#BITMAIN
, which will...
⛏ Increase self
#mining
by 58% to 7.9 EH/s / >200 MW of capacity by end of '23
⛏ Create one of the most efficient and profitable mining fleets in the
TeraWulf Announces Investor Update for January 2024 and Path to 10 EH/s by Mid-Year 🐺⛏️
⛏ Achieved 7.1 EH/s of self-mining in January with Building 3 (45 MW) at Lake Mariner fully energized
⛏ Expected to reach 7.9 EH/s of owned hashrate in early February as additional S19j
This strategic advantage allows us to expand our operations efficiently without the need for new resource searches. In the competitive race for data center infrastructure, this capability is a game changer, positioning $WULF ahead with consistent, reliable, and eco-friendly
$WULF Fourth Quarter & Full Year 2023 Earnings Call Replay is available now at the link below 👇
Thank you to everyone who was able to join us last night and for your thoughtful questions. Looking forward to the next 🐺⛏️
"The management team, given our ownership, does not want to dilute at any level. So, we make sure that when we are using that ATM facility, it is very, very accretive and we look at accretion on an enterprise value to EBITDA basis, which is how any traditional commodity company
We're happy to announce that our Cost to Mine Calculator is officially live on the $WULF investor site!
With the help of our CFO, we've created an online calculator that anyone can use to make it easier for you to compare
#Bitcoin
miners on an apples-to-apples basis.
Try it
The time has come...
As we promised - $WULF delivered its targeted 5.5 EH/s of total capacity in Q2, and what better time to give you an exclusive look into the operations, strategy, and team behind America’s first
#nuclear
#Bitcoin
miner.
Today, we’re taking you behind the
#Bitcoin
Mining Building
#3
at Lake Mariner (open ventilation system) running business as usual through the storm ⛈️ 😎
Building 3 details in the video linked below 👇
What does the future look like for TeraWulf? Here's what $WULF Co-founder & CEO
@PaulBPrager
has to say about it...
Listen to the full interview with TeraWulf Co-founders Paul Prager and Nazar Khan on
@acremades
#DealMakers
podcast at the link below 👇
Phase 2 of construction at $WULF's Lake Mariner facility is underway 🐺⛏️ The extension of this site will continue to lead the industry in Bitcoin mining operations and expand into high-performance computing projects with our remaining 300+ MW of largely
#zerocarbon
energy
$WULF began with mining
#Bitcoin
, but there is strategic value in diversification. We're excited to dive into AI and HPC, further solidifying our position as a leader in the digital energy space 🐺⚡️
If you're interested in learning more, join our SVP of Operations Sean Farrell
"Unfortunately, a lot of renewables don’t meet the needs of high speed compute, in their demand for consistent and high quality energy,” says Paul Prager, the CEO of the
#bitcoinmining
company TeraWulf, which is also expanding into
#AI
. “And you can’t snap your fingers and have a
TeraWulf is providing stability to the electric grid by employing
#bitcoinmining
as a load sink to its power sources ⛏⚡️ By ensuring that energy produced doesn't go to waste, and in having the flexibility to turn our operations off or on at a moment's notice, $WULF helps
"What would you say to someone looking to invest in a crypto miner? Why should they take $WULF over others?"
Thank you for your question
@JROL17_
and for all that participated in our call this week. You can listen to our full response to James' question and the rest of the
In June, $WULF …
⛏ Self-mined 347 bitcoin with an average production rate of 11.6 bitcoin per day
⛏ Power cost averaged $9.3k per bitcoin produced, ~$0.035/kWh in June
⛏ Fully commissioned Building 2 at the Lake Mariner facility and achieved 110 MW of self-mining capacity
“We harbor significant confidence in $WULF's strategic positioning, both in anticipation of the [
#bitcoin
] halving and over the long term.” -
@PaulBPrager
, CEO
Thank you for including WULF🐺 in your latest article
@DavidPan_1
🙏
Add it to your reading list: AI’s Insatiable Data-Center Demand Makes Crypto Miners Targets -
@business
@crypto
Right now at our
#ZeroCarbon
#NuclearPower
mining facility, our team is racking at a speed of nearly TWO THOUSAND miners per day in anticipation for Nautilus’ energization 🤯⚡️ A huge THANK YOU to our team for making zero-carbon
#Bitcoin
mining a reality!! $WULF 🐺⛏
Diversifying into
#AI
&
#HPC
🐺
$WULF is pursuing a potential large-scale, high-performance computing project at the Lake Mariner site and has committed an initial 2 MW block of
#zerocarbon
power ⚡️capable of deploying thousands of the latest generation GPUs.
Watch the full
The scalability of $WULF's
#Bitcoin
mining infrastructure is the backbone of our strategy, empowering us to optimize efficiency, scale operations, and drive profitability 🐺📈
ICYMI: Preliminary Full Year 2023 Financial Highlights and 2024 Guidance below 👇
Aiding the future energy transition with
#zerocarbon
#bitcoinmining
🌍⚡️
Our sites harness hydroelectric and nuclear power, making us the first and only behind-the-meter
#bitcoin
miner connected directly to a nuclear facility 🐺⛏
The
#bitcoinhalving
is almost here... $WULF is confident that with our current strategy, we are poised to emerge as one of the successful
#bitcoinminers
following this event 🐺⛏
Receive more insight into TeraWulf's strategy at the video link below 👇
$WULF's low-cost power and fleet efficiency are two key elements separating it from its
#Bitcoin
mining competitors. As we approach the halving, these two factors will only become more critical as the cost to mine Bitcoin effectively doubles ⛏♻️
#ZeroCarbon
#BitcoinMiners
"Bitcoin miners can act as an energy sponge, soaking up excess energy when needed to prevent it from overloading the grid." -
@SamLyman33
with
@Forbes
Like US Senator Cynthia Lummis recently said:
#Bitcoin
mining is GOOD for America’s energy grids. We've got a ways to go, but
Happy
#EarthDay
from the $WULF pack! 🐺🌏 As one of the only ESG-focused
#BitcoinMiners
, we believe mining the RIGHT way means mining with as much
#ZeroCarbon
energy as possible. Right now we're at ~95% zero-carbon across our two sites, but our goal is to ultimately make that
What's $WULF's current expansion capability?
Lucky for us, we don't have to look elsewhere for growth - it's available to us IMMEDIATELY at our existing sites 📈🐺
Our Lake Mariner site, just 20 miles from the Niagara hydro facility, taps into the constant energy flow that often goes to waste. By capturing and converting a local commodity, power, into a global commodity,
#Bitcoin
, we're ensuring that renewable resources are not wasted,
NEW: 🇺🇸 US Senator Cynthia Lummis says "
#Bitcoin
mining is GOOD for America’s energy grids and the development of new/stranded energy resources."
"
#BTC
miners, we’d love to have you in Wyoming!" 🙌
In case you missed it over the holidays, $WULF's video featuring our newest
#Bitcoin
mining building at the Lake Mariner facility is now LIVE on our YouTube channel! Watch it now 👇
The transparency and predictability of
#Bitcoin
's issuance is a key characteristic separating it from every other asset/currency in existence. $WULF aims to mirror that characteristic, providing transparency in everything we do and therefore separating us from the rest of the
Solid day of work at Lake Mariner 🐺💪
It's a different feeling when you see everything coming together. Getting closer and closer to that 10 EH/s ⛏️
P.s. New video for the WULFpack coming soon...
In 2016, TeraWulf’s vision of the Lake Mariner site was to transform this retired coal plant into a zero-carbon energy hub. Here we are now in 2024, with nearly 200 MW of
#bitcoinmining
in operation, a 20 MW AI/HPC project in the works, and still at least 300 MW of energy
Reviewing a few slides from our updated Investor Deck:
🔷 Updated Guidance: $/BTC and Hash Cost $/PH/Day (14) - realized cost-to-mine of ~$41.6k in Q2 '24, with a projection of ~40k for the remainder of the year. (p.s. for those who use our online cost-to-mine calculator, use
In
#bitcoinmining
, if you don't have low price power, chances are you're not making very much money.
To calculate the cost to mine
#Bitcoin
for $WULF and others, use our "Cost to Mine Calculator," available to everyone for free at the link below 👇