TeraWulf Announces September 2024 Production and Operations Update

Core Insights - TeraWulf Inc. has achieved significant advancements in its high-performance computing (HPC) and artificial intelligence (AI) digital infrastructure, with a self-mining capacity of 10.0 EH/s, doubling year-over-year [1][2]. Production and Operations Highlights - In September 2024, TeraWulf mined 176 bitcoin, averaging approximately 5.9 bitcoin per day [2][5]. - The operational self-mining capacity remained at approximately 10.0 EH/s, reflecting a 100% increase year-over-year [2][6]. - The average power cost per bitcoin mined was $35,109, equating to about $0.042 per kWh [2][3]. Key Metrics - Bitcoin self-mined at Lake Mariner was 140 in September, down from 147 in August [3]. - Bitcoin self-mined at Nautilus was 36 in September, slightly down from 37 in August [3]. - The value per bitcoin self-mined increased to $60,168 in September from $60,025 in August [3]. - The average operating hash rate was 8.2 EH/s, consistent with the previous month [3]. Recent Strategic Developments - On October 3, 2024, TeraWulf closed the sale of its 25% equity interest in the Nautilus facility for approximately $92 million, with plans to reinvest this capital into the construction of the 20 MW CB-1 facility at Lake Mariner [4][5]. - The construction of the CB-1 facility is on track for completion in Q1 2025, and the company has secured long-lead items for a subsequent 50 MW AI/HPC facility, CB-2, expected to be operational in early Q2 2025 [5][7]. Company Overview - TeraWulf develops and operates environmentally sustainable data center infrastructure in the U.S., primarily for Bitcoin mining and HPC, leveraging predominantly zero-carbon energy sources [8].