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TeraWulf | 8-K: Current report

SEC announcement ·  Mar 4 21:05
Summary by Futu AI
On March 4, 2024, TeraWulf Inc., a company specializing in environmentally clean bitcoin mining, announced an operational update in a press release. The company, which operates with over 95% zero-carbon energy, reported self-mining 364 bitcoins in February 2024, marking a 16% increase from January despite February's shorter duration. The average power cost for mining was $13,968 per bitcoin, or approximately $0.037/kWh. TeraWulf's average operating hashrate saw a 39% month-over-month increase to 7.5 EH/s. The company anticipates surpassing a self-mining capacity of 8.0 EH/s by the end of March, following the acquisition of around 4,000 Bitmain S19k Pro miners. The construction of Building 4 at the Lake Mariner facility is progressing as planned, with completion expected by mid-2024, which will boost TeraWulf's operational capacity...Show More
On March 4, 2024, TeraWulf Inc., a company specializing in environmentally clean bitcoin mining, announced an operational update in a press release. The company, which operates with over 95% zero-carbon energy, reported self-mining 364 bitcoins in February 2024, marking a 16% increase from January despite February's shorter duration. The average power cost for mining was $13,968 per bitcoin, or approximately $0.037/kWh. TeraWulf's average operating hashrate saw a 39% month-over-month increase to 7.5 EH/s. The company anticipates surpassing a self-mining capacity of 8.0 EH/s by the end of March, following the acquisition of around 4,000 Bitmain S19k Pro miners. The construction of Building 4 at the Lake Mariner facility is progressing as planned, with completion expected by mid-2024, which will boost TeraWulf's operational capacity to approximately 10 EH/s. Additionally, TeraWulf is exploring a high-performance computing project at Lake Mariner, committing an initial 2 MW of power for deploying thousands of GPUs. The company's forward-looking statements in the press release caution about the inherent risks and uncertainties in the cryptocurrency mining industry and the factors that could affect the profitability and cost-efficiency of mining operations.

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