TeraWulf self-mines 329 bitcoin in September

TeraWulf provided an unaudited monthly production and operations update for September 2023. September 2023 Highlights: Self-mined 329 bitcoin in September with an average production rate of 11 bitcoin per day. Generated approx. $6.5 million of free cash flow in Q3 2023, which will be used to repay debt, thereby reducing the Company’s future interest payments and total cost to mine bitcoin. Power cost averaged $9.9k per bitcoin produced, or approximately $0.035/kWh in September. “During the month of September, the Company mined 329 bitcoin, consistent with August’s bitcoin production despite unfavorable network factors including a 2.7% increase in network difficulty month over month,” said Sean Farrell, SVP of Operations at TeraWulf. “We are committed to being a responsible load resource, and while operating performance was optimized at the Lake Mariner and Nautilus facilities during the month due to enhanced miner repairs, these efficiency benefits were offset by facility downtime at Lake Mariner due to demand response activity earlier in the month,” added Farrell.