Bitcoin: BTC mining boosts with nuclear energy

A now atomic bitcoin – Indifferent to the media noise which accuses it of excessive energy consumption, the bitcoin miners seek on the contrary to take advantage of a source of renewable generation and often inexpensive. It is with this in mind that manufacturers in the sector have massively settled in Iceland near the hydraulic and geothermal installations of the country. Today, we learned that a specialist in carbon-free cryptocurrency mining will supply its facilities withnuclear energy. In Pennsylvania, Bitcoin goes atomic thanks to Terawulf !


TeraWulf Unveils Nuclear-Powered Bitcoin Mining Project…

TeraWulf is a listed company which therefore specializes in the mining of carbon of bitcoin. That is to say, they use solar, hydro and now nuclear energy to power their facilities. The company currently operates a site in Lake Mariner in New York State, near Lake Ontario. But the one that concerns us today is located in Pennsylvania, two hours north of Philadelphia.

Installation Nautilusthat’s its name, is attached to the nuclear power plant of 2.5 gigawatts of Susquehanna. It is 8,000 ASICs representing 1 Ha/s (Hexa hashes per second) and developing 50MW (megawatt) of power, therefore supplied by the electricity produced by the nuclear reactor neighbor. According to communicated press release published at the start of the week, the two companies have agreed on a tariff of $0.02 per kilowatt hour over the next five years.

Atomic bitcoin mining.  TeraWulf plugs into the Susquehanna nuclear power plant in Pennsylvania
TeraWulf announces its nuclear plans and the community is having fun on social networks – source: Twitter

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…and this is only the beginning, because they plan to double their facilities in the near future

But TeraWulf does not intend to stop there and plans to double its installations by connecting no less than 8,000 machines moreover, by the month of May. The short-term objective is to achieve 1.9 Ha/s in Pennsylvania. Paul Pragerthe CEO of Terawulf, was delighted to have access to carbon-free energy and inexpensive 24/7.

It also plans to increase processing capacity at its other facility in New York State. The company plans to increase the power of 60 To 110 MW to achieve a combined power on the two sites of 5.5 Ha/s at the beginning of the second quarter of 2023.

The arms race is clearly on among crypto mining industrialists looking to expand their facilities in places with high strategic. They needcheap energy to be profitable, low-carbon and/or renewable to be ethically responsible and above all a regulatory environment that allows them to project themselves into the future. The future of the sector is currently being played out and the UNITED STATES seem to take a slight lead over the rest of the world, under the suspicious eye of the SEC which watches over the grain.

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