2 years ago
TeraWulf (WULF), the environmentally-minded bitcoin miner backed by celebrities specified arsenic Gwyneth Paltrow that went nationalist successful December, sees itself reaching a hashrate scope of 4.7 to 5.1 exahash per 2nd (EH/s) by the extremity of 2022, according to a statement.
The Easton, Md.-based institution besides expects to beryllium capable to successfully physique retired implicit 400 megawatts of mining installation successful 2023, raising its hashrate to 12.1 to 17.2 EH/s.
The miner besides reiterated its expectations of reaching 800 MW and 23 EH/s of mining capableness by 2025.
The Bitcoin network’s full hashrate was 209.7 EH/s arsenic of March 16, according to Glassnode data. By comparison, Marathon Digital (MARA), 1 of the largest bitcoin miners, said it sees a hashrate of 23.3 EH/s by early 2023.
For this year, TeraWulf is expecting a full of 210MW of powerfulness capacity, but notes the institution could grow to rise powerfulness capableness to 235MW, if the macroeconomic and superior markets improve.
“Our absorption successful 2022 remains connected continuing to physique retired our Lake Mariner installation successful New York and Nautilus Cryptomine successful Pennsylvania ensuring we are good positioned to make arsenic galore plugs arsenic imaginable to instrumentality vantage of important Infrastructure and proviso concatenation constraints facing the market,” CEO Paul Prager said successful a statement.
The institution has raised a full of astir $295 cardinal to day and said it continues to instrumentality “an opportunistic approach” to raising capital.
The shares of the miner person declined astir 47% this year, portion the terms of bitcoin fell 15%.
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Aoyon Ashraf is crypto mining newsman with much than a decennary of acquisition successful covering equity markets
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