TeraWulf to increase bitcoin mining capacity with new Bitmain hardware
TL;DR TeraWulf, a bitcoin mining firm, has purchased 18,500 Antminer S19j XP bitcoin mining machines from crypto mining hardware manufacturer Bitmain for $53.4 million. The new machines will significantly increase the company's self-mining hashrate and be deployed at its Lake Mariner facility in New York. The miners will be received in batches between October and December.
Bitcoin mining firm TeraWulf will increase its self-mining hashrate by 58% with the purchase of 18,500 Antminer S19j XP bitcoin mining machines from crypto mining hardware manufacturer Bitmain for $53.4 million.
The new machines will be deployed at the company’s Lake Mariner facility in New York, the company said in a statement.
"Our planned expansion with S19j XPs will further establish TeraWulf as one of the most efficient mining fleets in the sector with a fleet efficiency of 25.7 J/TH,” said Nazar Khan, co-founder and COO of TeraWulf. “Coupled with a realized average cost of power of 3.5 cents per kilowatt hour and average availability in excess of 98%, we are not only expanding hashing capacity with this order but simultaneously positioning TeraWulf for increased profit margins ahead of the next halving.”
TeraWulf paid a deposit for the new machines and will receive the miners in equal batches split between October, November and December.