TeraWulf Boosts Bitcoin Mining Capacity by 68% with Major Infrastructure Upgrades in November

TeraWulf recently shared some exciting news about its bitcoin mining activities for November. The company mined 115 bitcoin, averaging about 3.8 bitcoin per day.

During this time, TeraWulf’s average hash rate was 5.9 EH/s. This number reflects some planned outages for electrical upgrades.

In their latest update, TeraWulf mentioned achieving an average power cost of $41,190 per bitcoin mined. They maintained an operational self-mining capacity of 8.4 EH/s, which is a remarkable 68% increase compared to last year.

Sean Farrell, the COO of TeraWulf, highlighted the importance of November. He said, “This month marked a pivotal moment for Lake Mariner. We completed significant upgrades to our electrical infrastructure. These enhancements will ensure reliable power delivery to our facilities, positioning us to meet the growing demand for Tier 3 HPC infrastructure.”

As of November 30, TeraWulf's operational bitcoin mining capacity at the Lake Mariner facility was 195 MW. They expect their self-mining hash rate to reach about 9.7 EH/s after finishing miner repairs and fleet upgrades.

TeraWulf is also making strides in its large-scale HPC hosting initiative. The installation of dry coolers for the 20 MW CB-1 facility is complete and on track for completion in the first quarter of 2025. The company aims to deliver 72.5 MW of HPC hosting capacity by the end of the second quarter of 2025.

Farrell added, “Our onsite repair teams are on track to restore 1.3 EH/s of mining equipment under warranty by year-end. Construction of MB-5 is proceeding as planned, with conduit installation complete and foundation pours and structural steel assembly underway.”

At the time of this publication, TeraWulf shares were up 3.23%, trading at $7.47, according to Benzinga Pro.