TenaWulf, the world’s sixth-largest Bitcoin mining business, is getting ready to open a state-of-the-art Bitcoin mining center at the beginning of September. The fact that this new 2-megawatt facility, called the WULF Den, is being built inside an existing building speeds up the design of its liquid-cooled system. The company TeraWulf is getting ready to open a 20-megawatt plant by the end of 2024, so this is a big step forward.
In addition to building up its infrastructure, TeraWulf is constantly looking for ways to work together with some of the biggest names in technology. These possible partnerships include more than just the “Magnificent Seven” companies: Alphabet, Amazon, Apple, Meta, Microsoft, Nvidia, and Tesla. They also include other tech giants and companies from the tech field as a whole. The objective is to find a partner who can utilize a large amount of computer power, which could be anywhere from 100 MW to 200 MW. This is a great chance for data centers and big AI companies.
To talk about money, TeraWulf is proud to be one of the most successful Bitcoin miners per share, with a production cost of around $40,000 per bitcoin. Because of this, TeraWulf can sell its Bitcoin every day and take advantage of the good price spread. Marathon Digital Holdings, which is the biggest Bitcoin miner in the world, likes to keep its Bitcoin as a strategic backup, which is different from this plan. Marathon recently increased its cash on hand by raising $250 million and buying Bitcoin worth $100 million in July.
TeraWulf is getting bigger, and its new building and possible tech ties will help it do even better in the tough Bitcoin mining business.
