Bitcoin Miner TeraWulf Reports 146% Increase in Revenue as It Ramps Up Operations

In March, TeraWulf started bringing machines online in its Nautilus facility in Pennsylvania, which is fully powered by nuclear energy. At the site, the miner has secured power agreement for 2 cents per kilowatt hour (kWh) of electricity for five years, which will bring its energy costs down to 3.5 cents across its two facilities. The Nautilus mine is a joint venture, of which TeraWulf owns 25% after downsizing its stake from a 50-50 split with a subsidiary of power producer Talen Energy.