Bitcoin mining firm TeraWulf will increase its self-mining hashrate by 58% with the purchase of 18,500 Antminer S19j XP bitcoin mining machines from crypto mining hardware manufacturer Bitmain for $53.4 million.
The new machines will be deployed at the company’s Lake Mariner facility in New York, the company said in a statement.
“Our planned expansion with S19j XPs will further establish TeraWulf as one of the most efficient mining fleets in the sector with a fleet efficiency of 25.7 J/TH,” said Nazar Khan, co-founder and COO of TeraWulf. “Coupled with a realized average cost of power of 3.5 cents per kilowatt hour and average availability in excess of 98%, we are not only expanding hashing capacity with this order but simultaneously positioning TeraWulf for increased profit margins ahead of the next halving.”
TeraWulf paid a deposit for the new machines and will receive the miners in equal batches split between October, November and December.