TeraWulf to increase bitcoin mining capacity with new Bitmain hardware

Quick Take

  • After completing the purchase, TeraWulf will have increased its self-mining power to 58% to 7.9 EH/s by the end of the year.

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.

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