Did you know that the Bitcoin mining process can utilize nuclear power?
Terawulf, an American Bitcoin mining operations company, announced that they have built the first nuclear-powered Bitcoin mining facility in the United States to be precise in Pennsylvania.
What made the company interested in building a nuclear-powered mining company? Check out the information as reported by The Bit Times page below.
Carbon Free Nuclear Powered Bitcoin Mining
According to Terawulf, there are nearly 8,000 Terawulf application-specific integrated circuits (ASIC) currently in operation. That’s a lot! But he said 8,000 mining rigs are still not enough, you know! Terawulf expects to deploy an additional 8,000 mining rigs in the coming weeks to reach mining speeds of up to 1.9 EH/s by May 2023.
This nuclear powered mining facility is considered a milestone as it is the first Bitcoin mining facility of its kind to receive carbon-free energy 24/7 from the 2.5 GW Susquehanna nuclear plant in Pennsylvania. Apart from being carbon-free, Bitcoin mining with electricity is claimed by Terawulf as Bitcoin mining with the lowest electricity costs.
According to the company’s press release on nuclear energy, Terawulf will be charged a fixed electricity rate of around $0.02 per kilowatt-hour (kWh) or the equivalent of IDR 307 ($1 = IDR 15,370) over the next 5 years.
2023 will be a profitable year for many Bitcoin miners in the world!
During 2022 many Bitcoin mining companies are experiencing difficult times considering that the crypto industry is entering a crypto winter phase with a decline in crypto prices.
However, entering 2023, it will be easier for Bitcoin miners to carry out their operations due to the significant increase in Bitcoin (BTC) prices since the end of last year. Statistical data shows that transfer fees on the Bitcoin network have increased by 122% since the end of January 2023.
This is because the average transaction fee for Bitcoin transfers rose from $0.767 to $1.704 per transaction or the equivalent of IDR 11,581 and IDR 25,730 ($1 = IDR 15,100 respectively). What is the cause of this increase in the average Bitcoin transfer fee? Check out complete information about Bitcoin Cuan Miners Up to IDR 520 Million here.