TeraWulf just turned a $92 million deal into a launchpad for its next big leap.
TeraWulf just pulled off a game-changer by selling its stake in a massive 200-megawatt Bitcoin mining facility to partner Talen Energy for a cool $92 million.
What’s the plan for that windfall?
TeraWulf aims to double down on AI and Bitcoin mining, turning this sale into a springboard for its next big move.
The company confirmed a stellar 3.4x return on its investment in Nautilus, and a large chunk of the $92 million will be funneled into building a 20-megawatt facility at its Lake Mariner base in western New York.
This new hub will host AI and HPC (High-Performance Computing) data centers, and the firm plans to snap up more Bitcoin miners while they’re still at a discount.
The deal, made up of $85 million in cash and 30,000 Talen-supplied Bitcoin miners worth $7 million, is set to strengthen TeraWulf’s mining operations. By upgrading its fleet, TeraWulf expects to slash costs and increase profits, all while keeping its promise to primarily use zero-carbon energy.
And the momentum doesn’t stop there—TeraWulf is fast-tracking the completion of its “MB-5” Bitcoin mining building. Once finished, it’s expected to push the firm’s operational hash rate to 13 exahashes per second by the end of Q1 2025.
Also Read: China Still Reigns in Bitcoin Mining Despite Ban
The sale isn’t just a win for TeraWulf’s bottom line. It’s a smart play for long-term growth and efficiency, reinforcing the firm’s focus on driving shareholder value. Talen Energy now holds full control of the Nautilus site, and while Talen once considered offloading its entire stake in a Pennsylvania nuclear plant, the focus now seems to be firmly on crypto mining.
TeraWulf’s stock surged 8% to $4.71 on the back of this announcement, a clear signal that investors are on board with the company’s aggressive growth strategy.
