TeraWulf (WULF), the environmentally-minded bitcoin miner backed by celebrities such as Gwyneth Paltrow that went public in December, sees itself reaching a hash rate range of 4.7 to 5.1 exahash per second (EH/s) by the end of 2022, according to a statement.
 

The Easton, Md.-based company also expects to be able to successfully build out over 400 megawatts of a mining facility in 2023, raising its hash rate to 12.1 to 17.2 EH/s.

The miner also reiterated its expectations of reaching 800 MW and 23 EH/s of mining capacity by 2025.

The Bitcoin network’s total hash rate was 209.7 EH/s as of March 16, according to Glassnode data. By comparison, Marathon Digital (MARA), one of the largest bitcoin miners, said it sees a hash rate of 23.3 EH/s by early 2023.

For this year, TeraWulf is expecting a total of 210MW of power capacity but notes the company could expand to raise power capacity to 235MW if the macroeconomic and capital markets improve.
 

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“Our focus in 2022 remains on continuing to build out our Lake Mariner facility in New York and Nautilus Cryptomine in Pennsylvania ensuring we are well-positioned to create as many plugs as possible to take advantage of significant Infrastructure and supply chain constraints facing the market,” CEO Paul Prager said in a statement.

The company has raised a total of about $295 million to date and said it continues to take “an opportunistic approach” to raising capital.

The shares of the miner have declined about 47% this year, while the price of bitcoin fell 15%.

- Yahoo Finance

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