The Bitcoin mining farm built by TeraWulf and Talen Energy Corporation in Pennsylvania has gone live.
The Bitcoin mining farm operates under the name Nautilus Cryptomine, the company formed by the companies TeraWulf and Cumulus Data, a subsidiary of Talen Energy Corporation, responsible for the development of this project in the state of Pennsylvania, United States.
In a Press release Issued this week, TeraWulf reported that has brought nearly 8.000 BTC mining machines online, allowing it to operate a hash rate capacity of approximately 1,0 EH/s on the blockchain network.
Nautilus Cryptomine claims to be the first data center to integrate 100% nuclear-powered Bitcoin mining operations, without polluting emissions into the environment.
The opening of this crypto mining farm makes Pennsylvania the first state in the country to use this type of energy to extract bitcoins from the network.
Nautilus Cryptomine
TeraWulf President and CEO Paul Prager highlighted that the company is already powering 16.000 ASIC miners with clean energy, between its Nautilus Cryptomine and Lake Mariner facilities. The latter is a former coal-fired power plant, located in upstate New York, that TeraWulf has fully refurbished and now produces power using hydroelectric and solar sources.
Prager also noted that by the second quarter of this year, TeraWulf plans to increase its capacity and operate 50.000 ASIC mining rigs for bitcoin mining. This number of mining rigs will be jointly operated by Nautilus Cryptomine and Lake Mariner, giving TeraWulf an operational capacity of 5,5 EH/s on the Bitcoin network.
According to TeraWulf’s estimates, 160 megawatts (MW) of power are needed to keep this number of ASIC miners operational.
Nuclear energy and other clean sources
El Salvador was one of the first countries to surprise the world by using a 100% clean energy source, volcanic energy, to sustain Bitcoin mining operations. However, in other parts of the world, companies dedicated to this activity are also finding new alternatives to reduce the use of energy from fossil fuels in order to extract bitcoins in a more friendly and environmentally friendly way.
From using hydroelectric power to harnessing solar energy, reusing coal or gas waste from oil exploration areas, and more, there are currently many ways in which miners are reducing their environmental footprint by mining bitcoins.
Nuclear energy has also served as source to power the operations of thousands of Bitcoin mining rigsThis energy source, in addition to reducing the environmental footprint of the blockchain network, guarantees stable and constant energy and also allows miners to make their efforts even more profitable.
Nautilus Cryptomine highlighted that nuclear energy represents a lower-cost energy, $0,02 Kilowatt-hour (kWh)The company claims that this energy price will remain fixed for ASIC mining activity for the next 5 years.
Bitcoin mining with nuclear energy in the United States
In addition to TeraWulf and Talen Energy, other companies such as Energy Harbor and Oklo Inc. are pushing their own projects to power cryptocurrency mining farms with nuclear energy.
Energy Harbor plans to supply power to crypto mining company Standard Power in Ohio, while Oklo Inc. will power the operations of Compass Mining.
On the other hand, the city of Miami, led by pro-bitcoin mayor Francis Suarez, was one of the first in the United States to express its interest in supplying energy to Bitcoin miners through nuclear sources. Suarez extended an invitation by mid-2021 ASIC farms and operators to move to the city to operate nuclear power and enjoy other benefits.
Continue reading: How much renewable energy does Bitcoin mining use?
