TeraWulf has a bitcoin mining breakeven point of $6,300 in the coming months.
TeraWulf told about its plans to significantly expand its fleet of bitcoin mining equipment. Along with additional supply miners from Bitmain, TeraWulf’s bitcoin mining breakeven point will be $6,300 in the coming months. The company’s cost per kWh is currently averaging $0.035 per kWh.
TeraWulf plans to increase its fleet of miners by 23% in Q1, which is 8,200 machines, to 44,45,000 machines, with a projected corporate hash rate of 5 Eh/s. The company has two sites with a total power capacity of 160 mW, with 91% of the electricity generated from renewable sources.
The company is expanding its mining activity based on shareholder sentiment: TeraWulf shares are traded on the Nasdaq NYSE, and the company was able to place an additional $6.7 million worth of shares and sell $3.4 million worth of convertible promissory notes.
Thus, the company was able to secure an additional $10.1 million in financing, which will be used to pay its obligations, including contracts for the purchase of additional mining equipment.
Two months earlier, TeraWulf had raised $17 million in financing, both through an additional share issuance and through the sale of debt financial instruments.