TeraWulf Inc. Boosts Bitcoin Production in March 2024

March 2024 Production Overview

TeraWulf Inc. reported significant strides in its bitcoin mining operations for March 2024. The company successfully self-mined 379 bitcoins, averaging a production rate of 12.2 bitcoins per day. This achievement came with an average power cost of $13,798 per bitcoin, equating to approximately $0.035 per kWh. The efficiency in production is attributed to operational upgrades and strategic miner replacements.

Operational Enhancements

The company enhanced its operations by increasing its installed hash rate to 8 EH/s by the end of March. This improvement was primarily due to the replacement of around 1,000 older generation miners with state-of-the-art S19k Pro miners. Looking ahead, TeraWulf plans to further expand its miner fleet with the delivery and deployment of an additional 3,000 S19k Pro miners at the Lake Mariner facility in early April.

Efficiency Improvements

Efficiency improvements were also realized through the implementation of third-party firmware at the Lake Mariner facility, resulting in a potential 10% enhancement in mining efficiency. The company remains proactive in engaging with demand response programs, exemplifying its commitment to operational efficiency and effective resource management.

Infrastructure and Future Plans

The operational infrastructure of TeraWulf includes a robust 160 MW at the Lake Mariner facility and 50 MW at the Nautilus Cryptomine. This setup supports a combined self-mining hash rate of 8 EH/s as of March's end. The facilities operated at an impressive 95% of their installed nameplate capacity, bolstered by performance optimization and systematic maintenance.

TeraWulf is also advancing the construction of Building 4 at the Lake Mariner facility. This 35 MW expansion is on schedule for mid-2024 completion, expected to boost the company’s total operational capacity to approximately 10 EH/s. Furthermore, TeraWulf is exploring a high-performance computing project at the Lake Mariner site, with an initial commitment of a 2 MW power block for deploying advanced GPUs.

By focusing on operational enhancements and strategic expansions, TeraWulf Inc. is positioned to continue its growth trajectory in the competitive bitcoin mining industry.