America’s First Nuclear-Powered Bitcoin Mining Center Reveals First Quarter Results
After launching its services in Pennsylvania, the first 100% nuclear-powered Bitcoin (BTC) mining facility in the US, operated by cryptocurrency mining company TeraWulf, is already reaping impressive results and recording constant progress while continuing to ramp up operations.
In fact, Bitcoin mining center Nautilus has finished March with approximately 9,200 energetic miners, contributing to TeraWulf’s average hash rate of 3 EH/s for the month, which represents a 50% month-over-month increase compared to February, according to a press release dated 6. April.
Cryptomining in numbers
Shortly before the above-mentioned press release, on 5 April, the company also came posted a video proudly showing the inside of the Nautilus nuclear-powered Bitcoin mining facility.
Specifically, the company currently operates two crypto mining operations – at Nautilus Cryptomine and the wholly-owned Lake Mariner facility in New York, which relies heavily on hydro and nuclear power (91% zero-carbon energy). Together, these two businesses have achieved an average production rate of 7.5 BTC per day, self-mining 233 Bitcoin in March.
In terms of the value of Bitcoin mined by the company’s facility, this means that about $6.49 million of the flagship decentralized finance (DeFi) was produced in a single month or about $208,973 per day, considering the current price of Bitcoin , which at press time stood at $27,863.
Increasing zero carbon operations
Commenting on the results, Chief Strategy Officer at TeraWulf, Kerri Langlais, said the company aimed to increase mining capacity to 5.5 EH/si in the second quarter, as well as planning an additional 50 MW of capacity for each of the mining facilities:
“In addition to rapidly ramping up 50 MW of zero-carbon capacity at the Nautilus facility, construction continues at Lake Mariner, where we have another 50 MW of capacity scheduled to come online within weeks. Once Nautilus is fully ramped and Building 2 at Lake Mariner is enabled, TeraWulf’s total hash rate is expected to increase to 5.5 EH/s.”
It’s also worth mentioning that Nautilus was first announced in August 2021 as a collaborative project between TeraWulf and zero-carbon data center manufacturer Cumulus Data, a subsidiary of independent power producer Talen Energy. In January 2023, they completed the shell for their first data center, powered by a 2.5 GW nuclear power plant, as Finbold reported at the time.
Meanwhile, the construction and success of both mining facilities represent a powerful argument against the widespread criticism that Proof-of-Work (PoW) technology, used to mine digital assets such as Bitcoin, is a danger to the environment and climate due to its carbon emissions. , which has led to increased scrutiny of the White House.
