A joint venture with Cumulus Coin, LLC. has brought Pennsylvania’s first nuclear-powered Bitcoin mine online.
Terawulf has announced that approximately half of the nuclear-powered Nautilus Cryptomine is online. The mining facility, a joint venture with Cumulus Coin, LLC., derives energy from the 2.5 GW Susquehanna nuclear generation station in Pennsylvania.
The full operation will be 50 MW and 1.9 EH / s, with the option for Terawulf to add 50 MW of additional bitcoin mining capacity, “which the Company plans to deploy in the coming phase,” according to the press release.
Paul Prager, chairman and CEO of TeraWulf, said that “the new energy of the Nautilus facility earlier this month, approximately 16,000 miners owned by TeraWulf, representing 1.9 EH / s of independent mining capacity, are on site and brought online every day.”
“The Nautilus nuclear-powered mining facility benefits from the cheapest power in the sector, just $0.02/kWh over five years,” commented Prager.
Mining consultant and founder of Citadel 256, Magdalena Gronowska, previously explained in an article for Bitcoin Magazine how nuclear power could revolutionize Bitcoin mining.
“Nuclear is a carbon-free, reliable and cheap source of energy,” he told the magazine. “It’s not perfect because it emits nuclear waste, but every energy source has tradeoffs between environmental footprint, reliability and capital and operating costs… a low carbon economy.”