TeraWulf to lease 70 MW to host AI as Bitcoin mining costs jump
TeraWulf is looking to expand into the red-hot AI space as Bitcoin mining difficultly climbs and profitability shrinks.
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TeraWulf is looking to expand into the red-hot AI space as Bitcoin mining difficultly climbs and profitability shrinks.
Bitcoin celebrates 12 years since its first halving event, with block rewards shrinking to 3.125 BTC and miners adapting to higher difficulty amid rising prices.
United States lawmakers believe Building energy infrastructure for Bitcoin mining, AI, and high-performance computing is a major priority.
Miners including Cormint and TeraWulf are among the lowest-cost producers of Bitcoin, an important advantage amid tightening margins, CoinShares said.
TeraWulf’s focus on raising capital through institutional buyers suggests confidence in its future despite volatile cryptocurrency markets.
Crypto exchange Coinbase and Bitcoin miners CleanSpark and IREN closed Oct. 14 with double-digit percentage gains and continued to climb after the bell.
TeraWulf said it will use the proceeds to buy cheaper Bitcoin miners and expand its AI and high-performance computing streams.
Expanding the number of Bitcoin machines or facilities “makes no sense” if profitability margins don’t increase, TeraWulf’s Kerri Langlais stressed.
CleanSpark’s CEO Zach Bradford said his firm was setting its sights on increasing future hash rate instead of branching out to alternative revenue streams.
It adds to a prior agreement in which Riot bought 33,280 miners from MicroBT. The term sheet was also updated, allowing Riot to buy another […]
