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TeraWulf Announces Commencement of Mining Sustainable, Low-Cost Bitcoin

TeraWulf Inc., which was formed to own and operate fully integrated environmentally clean bitcoin mining facilities in the United States, announced the commencement of mining operations at its Lake Mariner facility in upstate New York using more than 90% zero-carbon energy. The Lake Mariner facility is expected to reach over 500 megawatts of capacity once complete.

The Company also continues to expect to begin mining at its Nautilus Cryptomine facility in Pennsylvania early in the third quarter of 2022 where it aims to have 300 megawatts of gross mining capacity using 100% zero-carbon energy once complete.

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“With the commencement of bitcoin mining, we have officially taken our talented team’s proven energy infrastructure model and begun hashing for environmentally sustainable, domestic bitcoin,” said Paul Prager, Chief Executive Officer and chair of the board of TeraWulf. “We are proud of our team and excited for the planning and preparation to pay off as we achieve this significant milestone on our path to responsibly generate bitcoin at industrial scale. Today is just the beginning and we look forward to accelerating the ramp of our hashing and operational capabilities at our world-class facilities in New York and Pennsylvania.”

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