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TeraWulf has launched a Demonstration Environmental Bitcoin Mining Project that clearly demonstrates how smart cryptocurrency mining can be useful. The new mine is located in a former New York State coal-fired power plant, using 90% clean energy from Lake Ontario’s hydro resources.
Dubbed the Lake Mariner, the facility will be powered by Bitmain’s latest 5nm ASIC miners.
The company has entered into a contract with the manufacturer for the monthly supply of 2500 Antminer S19XP Pro, starting in July 2022. At the end of the contract, the mine will receive 19,000 miners by December 2022.
Lake Mariner is designed for 800 MW capacity, which will be reached by 2025 to reach a hash rate of 29 EH / s. The development of the mine will give jobs to power engineers who were laid off after the closure of the coal-fired power plant.
TeraWulf plans to raise investments by listing shares on the NASDAQ stock exchange. The company recently completed its merger with IKONICS to avoid a lengthy IPO process. TeraWulf went public with $ 200 million invested in the purchase of the latest ASIC miners.
The Antminer S19XP Pro delivers the highest hashrate in the industry to date at 160 TH / s at 3300W. The performance metric is twice that of competitors’ flagship models.
#TeraWulf #Equip #Eco #5nm #ASIC #Miners
