Nasdaq-Listed Bitcoin Miner Terawulf Reveals Firm’s Lake Mariner Site Has 12,000 Miners Deployed

The publicly-listed mining company Terawulf announced that its Lake Mariner mining data centre was up and running with 30 megawatts (30MW) of capacity. 11 days later, Terawulf revealed that nearly 12,000 miners are operating at the facility in New York. Terawulf currently has 1.3 exahash/s (EH/s), of hashpower, which includes Lake Mariner's hosted and owned hashing capacities.

Terawulf Declares 12,000 Mining Rigs are Operational in New York. Site currently Produces 1.3 Exahash

Terawulf, a bitcoin mining company (Nasdaq : WULF), has revealed that its recent deployments of miner are helping to meet the company's year end targets. Terawulf was the subject of headlines in 2013, when it was revealed that Gwyneth Paltrow, an American actress and entrepreneur, had invested in the company. Paul Prager, CEO of bitcoin mining company, announced on September 9 that the company's New York-based location in Lake Mariner was now operational. It was currently managing 1 EH/s and 30 MW of hashpower.

Terawulf announced on September 19 that the publicly traded mining operation now has "a total over 1.3 EH/s operating at Lake Mariner." This is due to close to 12,000 Bitcoin miners who have been deployed at New York's site. Terawulf announced that approximately 3,000 Antminer S19XP units were derived from an earlier agreement with Bitmain Technologies.

Terawulf states that Lake Mariner is composed of two buildings. The initial batch of Antminer S19XPs has been installed in Building One, which has 50MW of capacity. The second building will add 50 MW to the capacity. This is expected to be completed by the fourth quarter of 2022. Nazar Khan, founder and COO at Terawulf, said that the company was often called upon for demand response efforts.

Recent developments have seen bitcoin mining combined with demand response events. Mid-July saw a large demand response effort by the ERCOT grid from bitcoin miners in Texas. Lancium, a bitcoin mining infrastructure provider, signed a July deal to support a battery demand response system. Duke Energy Corporation, the second-largest U.S. corporation in energy, is currently researching bitcoin mining as a demand response strategy.

Khan released a statement Monday saying that, "Alongside Lake Mariner's high hash rate growth there has been a commensurate rise in our grid support capabilities." Our Lake Mariner facility was used for almost a dozen demand response events during an extremely hot summer in energy markets. This highlights our ability to provide immediate, precise support when the grid requires it most. We are expanding the range of ancillary services Lake Mariner offers to the electric market.

What do you think of Terawulf's revelation that 12,000 mines are now operating in Lake Mariner Please comment below to let us know your thoughts on this topic.

By: Jamie Redman
Title: Nasdaq-Listed Bitcoin Miner Terawulf Reveals Firm’s Lake Mariner Site Has 12,000 Miners Deployed
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Published Date: Tue, 20 Sep 2022 14:00:18 +0000

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