American bitcoin mining company Terawulf has purchased a total of 30,000 Bitmain ASICs. The sale agreement was announced a few hours ago. It has also announced that the hardware purchased will be shipped between January and August 2022. The American company thus plans to increase its capacity to 3 EH/s per second.
According to a press release from Bitmain, the machines in question are model S19j. These machines are part of the latest-generation series launched by the aforementioned manufacturer. They have a computing power of 100 TH/s per second.
It is interesting to note that Terawulf presents itself as a model mining company of the future. This is due to its environmentally-friendly mining capabilities. According to its website, the company produces 90% of its bitcoins using clean energy. It’s worth noting that following its merger with IKONIC, the company is listed on Nasdaq under the ticker WULF.
How does the company intend to develop?
Terawulf is beginning its expansion phase. It is taking advantage of the good intentions of the American authorities to accept Chinese bitcoin mining farms. In this respect, by 2021, the company aims to install 50 MW of energy use in the mining sector.
Similarly, by 2025, they have set themselves a target of 800 MW. This last point takes them to the impressive chopping power of 23 EH/s. To get an idea of the scale of this figure, it is equivalent to 1/4 of the current total throughput. It’s worth noting that bitcoin computation is currently at 2019 levels.
The great advantage of this company is that its bitcoin mining farms are powered by clean energy. ” Terawulf represents a new paradigm for cryptocurrency mining. This is an important strategic advantage. It relies on the use of reliable, sustainable, secure and low-cost energy sources to support our business,” said Paul Prager, CEO of Terawulf.
With this kind of initiative, bitcoin mining seems to be taking another step forward. It augurs a better understanding with the authorities and investors. The use of clean and environmentally friendly energy sources opens the doors for cryptocurrencies in areas.
The acquisition of the new batch of 30,000 mining equipment
Bitmain’s agreement with Terawulf to purchase 30,000 ASICs is among the biggest purchases this year. Other industry giants such as Riot Blockchain, Marathon and Core Scientific are on Bitmain’s list of near-exclusive customers.
Regarding the agreed purchase between the two companies, Prager spoke emphatically about his expectations. “This agreement with Bitmain is the next step in the rapid and efficient advancement of our operations. We anticipate substantial growth in our hashing capacity,” he said. At the same time, he stressed that he intended to maintain the strong relationship with the manufacturer. This will enable his company to become the world leader in bitcoin green mining.
