TeraWulf Inc. Expands Bitcoin Mining Operations

By Bobby Samwell • Tuesday, November 11 10:25 • Permanent Link

TeraWulf Inc. has recently released its 10-Q report, which provides a detailed look into the company's financial condition and operational results. TeraWulf Inc. is a digital asset technology company that operates bitcoin mining facilities in New York and Pennsylvania. The company also offers miner hosting services to third-party entities. It was founded in 2021 and is headquartered in Easton, Maryland.

ITEM 2 of the 10-Q report provides an overview of TeraWulf Inc.'s business strategy and operations. The company's primary operations are centered at the Lake Mariner Campus, strategically located on the shores of Lake Ontario. The campus has 245 MW of energized capacity supporting bitcoin mining infrastructure and has energized 22.5 MW of HPC leasing capacity. TeraWulf Inc. is also expanding its operations, having acquired Beowulf Electricity & Data LLC and entered into a long-term ground lease for approximately 183 acres in Lansing, New York. Additionally, the company has entered into an agreement to develop and operate an HPC datacenter located in Abernathy, Texas.

The report also delves into the company's revenue streams, with TeraWulf Inc. deriving the majority of its revenue by providing hash computation services to a mining pool operator, facilitating transaction validation of transactions on the global bitcoin network using the company’s fleet of application-specific integrated circuit miners. The report also discusses the company's business strategy, emphasizing its focus on the development, ownership, and operation of large-scale, power-advantaged digital infrastructure serving hyperscale and enterprise HPC workloads.

Furthermore, the report details the company's facilities, including the Lake Mariner Campus, which is designed to support sustainable bitcoin mining and HPC leasing operations. TeraWulf Inc. operates the Lake Mariner HPC Datacenter through its subsidiaries La Lupa Data LLC and Akela Data LLC, with signed HPC leasing agreements totaling 522.5 MW. The report also provides insights into the company's bitcoin mining facilities, including the number and models of miners owned by the company.

Following these announcements, the company's shares moved 2.58%, and are now trading at a price of $14.30. If you want to know more, read the company's complete 10-Q report here.

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