TeraWulf Issues March 2024 Production and Operations Update

March 2024 Production and Operations Highlights

Management Commentary

“In addition to replacing older generation miners, during March, Lake Mariner implemented third-party firmware across a significant portion of our mining fleet, with initial results indicating a potential 10% efficiency improvement,” said Sean Farrell, SVP of Operations at TeraWulf.

Farrell further stated, “Additionally, Lake Mariner continues to actively engage in demand response programs. Our recent expansion of qualified capacity within the NYISO Operating Reserve program reflects our ongoing commitment to operational efficiency and resource management.”

Production and Operations Update

Operational infrastructure capacity consists of 160 MW at the Lake Mariner facility and 50 MW at the Nautilus Cryptomine, resulting in a combined self-mining hash rate of 8 EH/s as of the end of March. On average, the mining facilities operated at 95% of their installed nameplate capacity, attributed to proactive demand response participation, performance optimization efforts, and systematic maintenance procedures.

Construction of Building 4 (35 MW) at the Lake Mariner facility remains on track to be completed by mid-2024, which is expected to increase TeraWulf’s total operational capacity to approximately 10 EH/s.

As previously announced, the Company is pursuing a potential large-scale, high-performance computing (HPC) project at the Lake Mariner site and has committed an initial 2 MW block of power, capable of deploying thousands of the latest generation graphics processing units (GPUs).

Source: Cryptocurrency -

Will GE do better as three companies than as one?

Housing ‘affordability has just totally collapsed,’ economist says