TeraWulf, a US-based cryptocurrency mining company, announced today that it has broken new ground in crypto history with its press release.
The mining startup reported that it has started crypto mining at the facility called Nautilus Cryptomine. TeraWulf made history as the first company to use nuclear energy for mining.
According to the information given by TeraWulf officials, operating with 8,000 equipment to begin with, it currently has a processing capacity of 1.0 Exahash (EH/s). The company aims to increase its processing power to 1.9 Exahash by purchasing 8,000 additional equipment for the Pennsylvania-based nuclear facility for the medium term.
Nuclear Energy Reduces Mining Cost
TeraWulf, which started the Nautilus facility, turned to nuclear power to reduce energy costs. The mining venture’s average cost at the nuclear power plant will be estimated at 2 cents per kilowatt. Authorities expect the average cost of energy from other facilities to decline to 4 cents as a result.
According to the data released by the US Energy Information Administration last year, the average cost per kilowatt of miners in the country was recorded as 9 cents. TeraWulf’s current cost is less than half that figure.