TeraWulf will spend $53.4 million to buy 18,500 miners

How does bitcoin mining work?
How does bitcoin mining work?

The American mining company TeraWulf has announced the purchase of 18,500 Antminer S19j XP bitcoin miners from Bitmain.

Data: Twitter.

Thanks to the new devices, the company’s hashrate will increase by 58% by the end of the year to 7.9 EH/s.

“Combined with a realized average cost of electricity of 3.5 cents and an average availability of over 98%, we are not only increasing the hash rate with this order, but at the same time we are targeting TeraWulf to increase profits ahead of the next halving,” company representatives noted.

Delivery will take place in equal batches – in October, November and December. The equipment will be installed at the Lake Mariner data center in New York State.

Earlier, TeraWulf used the capacity of the Saquehanna nuclear power plant in Pennsylvania to mine bitcoin.

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