Terawulf reduced more BTC in January due to reduced electricity costs

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The cryptocurrency miner Terawulf based in the USA produced an increase of 25.6 % compared to December in January 157 BTC.

snow storms at the end of 2022 paralyzed the operation and increased the electricity invoices. The weather normalized in January, hence the better production results.

Expansion plans for 2023

Terawulf reinforces Data Preserver-Spaces = "True"> its mining activities with an increased number of machines last month. It received 6,100 miners from Bitmain, which corresponds to a total number of 18,000. A further 15,900 machines are expected to arrive by the end of the first quarter of 2023.

At the end of January, the organization in its facility in Lake Mariner had a hash installment capacity of around 2.0 EH/S.

The electricity costs, another main reason for the increased production, dropped in January due to the cheaper weather conditions from $ 0.060/kWh to $ 0.052/kWh.

CEO Paul Prager said that the company's goal was to achieve a hash installment capacity of 5.5 EH/S at the beginning of this spring:

"In 2023 it is our plan to aggressively expand our provided hash rate and efficiently, while we install the remaining miners and start up our facilities with the aim of sustainable, inexpensive operating capacity of 5.5 EH/s reach. "

The shares of Terawulf reacted positively to the news and rose by 8 %within 24 hours. However, Wulf clearly broke a to avoid further problems and any application for bankruptcy protection.

The bear market has caused several Bitcoin mining companies, including Core Scientific. It stored for insolvency protection according to chapter 11 a few days before Christmas 2022.

Also marathon and riot cut off well

January was a good month for two of the leading BTC miners-Marathon Digital and Riot Blockchain. The previous produces 687 BTC, 45 % more than in December. Nevertheless, it sold some of its investments for the first time since October 2020 to cover the operating costs.

Nevertheless, Marathon with 11,418 BTC remains one of the largest Bitcoin owners. The only company with greater commitment is Microstrategy with over 130,000 BTC.

Riot-Blockchain dismantled 740 BTC in January and thus marks its monthly high. It also used the price increase in primary cryptocurrency in the first weeks of the year to sell around 700 BTC for around $ 13.7 million. At the end of January, the company held 6,978 BTC (almost $ 162 million in current reviews).

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