According to Cointelegraph, TeraWulf, the world’s sixth largest Bitcoin mining company, will launch a new Bitcoin mining facility at the end of September and may cooperate with Magnificent Seven.
The new 2-megawatt WULF Den facility, which will come online in early September, will be a liquid-cooled design built inside an existing structure, said Nazar Khan, TeraWulf co-founder and COO.
TeraWulf also plans to launch a 20-megawatt milestone facility by the end of 2024.
TeraWulf is actively engaging with top technology companies, including Magnificent Seven, with the goal of finding customers and partners who can use its computing power at scale.
TeraWulf’s production costs for each mined Bitcoin are about $40,000, making it one of the most profitable Bitcoin mining companies per share. Khan said the company sells Bitcoin every day to take advantage of the profit difference.
In contrast, Marathon Digital Holdings, the world’s largest Bitcoin mining company, adopted an “all-hodl” strategy, raising $250 million in August with plans to buy more Bitcoin.
