Green Bitcoin miner TeraWulf buys 15,000 rigs from Bitmain

2 min read | December 22, 2021 12:16 PM AEDT | By Ashish

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Green Bitcoin miner TeraWulf buys 15,000 rigs from Bitmain — Image source: Photo by RODNAE Productions from Pexels

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Highlights

TeraWulf has entered into an agreement to purchase 15,000 S19 XP pro-Bitcoin mining machines from Bitmain Technologies.

The computers are planned to be installed at a facility at its building in upstate New York.

The company recently raised nearly US$200 million in debt and equity financing.

Green Bitcoin miner TeraWulf has entered into an agreement to purchase 15,000 S19 XP pro-Bitcoin mining machines from Bitmain Technologies. The computers are planned to be installed machines at a facility at its building in upstate New York. The company would reportedly pay nearly US$169 million for the purchase of rigs.

According to the company’s website, the facility will plug into an electrical grid that relies on hydropower and is 90% carbon-free. TeraWulf says it banks on zero-carbon energy sources to power its mining.

The deal will see a monthly allotment of 2,500 units delivered from July to December 2022. It is TeraWulf's second order of the S19 XP pro-Bitcoin mining machines from Bitmain.

TeraWulf has entered into an agreement to purchase 15,000 S19 XP pro-Bitcoin mining machines from Bitmain Technologies.

Source: © Aoutphoto | Megapixl.com

The company recently raised nearly US$200 million in debt and equity financing from leading institutional and individual investors. TeraWulf said that the additional capital raised was expected to allow it to achieve 6 exahash per second, or 200 megawatts, of mining capacity by the year 2022’s second half.

Meanwhile, Bitcoin mining stocks have fallen since the price of the world’s largest cryptocurrency rose significantly. Since its November peak, the cryptocurrency market has lost nearly US$1 trillion of its value.

According to experts, cryptocurrencies along with other riskier assets have seen their value falling in the past few weeks on account of global banks tightening their monetary policies amid rising inflation.

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