TeraWulf Will Buy New Bitmain Miners

Crypto mining company TeraWulf announced that it will boost its self-mining hashrate by 58% through the purchase of 18,500 Antminer S19j XP mining machines from manufacturer Bitmain for $53.4 million.

The new machines will be placed at the Lake Mariner facility in New York, according to a statement.

Nazar Khan, co-founder and COO of TeraWulf, said the order will “further establish TeraWulf as one of the most efficient mining fleets in the sector with a fleet efficiency of 25.7 J/TH” and will provide the company with increased profit margins ahead of the next halving due to an average power cost of 3.5 cents per kilowatt hour as well as an average availability of 98%.

TeraWulf made a deposit for the miners and will receive them in three sections between October, November, and December.