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TeraWulf Announces December 2024 Production and Operations Update
WULFTeraWulf (WULF) GlobeNewswire·2025-01-03 21:15

Core Insights - TeraWulf Inc. has secured high-performance computing (HPC) data center leases with Core42 for over 70 MW of digital infrastructure, representing total revenue exceeding 1billionoveraninitial10−yearterm[1][4]−Thecompanyself−mined158bitcoininDecember2024,bringingtheyear−to−datetotalto2,728bitcoinand423bitcoininQ42024[1]−TeraWulfachievedaninstalledself−miningcapacityof9.7EH/s,markinga941 billion over an initial 10-year term [1][4] - The company self-mined 158 bitcoin in December 2024, bringing the year-to-date total to 2,728 bitcoin and 423 bitcoin in Q4 2024 [1] - TeraWulf achieved an installed self-mining capacity of 9.7 EH/s, marking a 94% year-over-year increase [1][6] Production and Operations Highlights - Bitcoin self-mined in December 2024 was 158, compared to 115 in November 2024 [3] - The value per bitcoin self-mined increased to 98,326 in December from 83,947inNovember[3]−Powercostperbitcoinself−minedroseto83,947 in November [3] - Power cost per bitcoin self-mined rose to 62,805 in December from 41,190inNovember[3]−Theaverageoperatinghashratewas8.4EH/sinDecember,upfrom5.9EH/sinNovember[3]ManagementCommentary−TheCEOofTeraWulfhighlightedthesignificanceofthedatacenterleaseagreementsasamilestoneforthecompany,indicatingastrongdemandforsustainableandscalabledigitalinfrastructure[4]−Thecompanyisindiscussionsforadditionaltenantstoutilizetheremaining178MWofnear−termHPChostingcapacityatLakeMariner[4]−TeraWulfisevaluatingstrategicsiteacquisitionopportunitiestoexpanditsfootprintbeyondthecurrent750MWpotentialatLakeMariner[4]OperationalCapacity−AsofDecember31,2024,TeraWulf′soperationalbitcoinminingcapacitywas195MWwithaninstalledself−mininghashrateofapproximately9.7EH/s[5]−Theaveragepowercostperbitcoinminedwasapproximately41,190 in November [3] - The average operating hash rate was 8.4 EH/s in December, up from 5.9 EH/s in November [3] Management Commentary - The CEO of TeraWulf highlighted the significance of the data center lease agreements as a milestone for the company, indicating a strong demand for sustainable and scalable digital infrastructure [4] - The company is in discussions for additional tenants to utilize the remaining 178 MW of near-term HPC hosting capacity at Lake Mariner [4] - TeraWulf is evaluating strategic site acquisition opportunities to expand its footprint beyond the current 750 MW potential at Lake Mariner [4] Operational Capacity - As of December 31, 2024, TeraWulf's operational bitcoin mining capacity was 195 MW with an installed self-mining hash rate of approximately 9.7 EH/s [5] - The average power cost per bitcoin mined was approximately 0.078/kWh, excluding proceeds from demand response and ancillary services [6]