#nuclearpowered

AJ Defence Editor @alexgatopoulos explains how emerging nuclear systems from major powers are contributing to reshaping

Kyiv, Ukraine – The collective West is scared of Moscow’s new, nuclear-powered cruise missile because it can reach anywhere on Earth, bypassing the most sophisticated air and missile defence systems, the Russian Ministry of Foreign Affairs has claimed. “They’re afraid of what we’ll show to them next,” Foreign Ministry spokeswoman Maria Zakharova told the RIA Novosti news agency on…

The USS Gerald R. Ford, the US Navy’s most superior plane service, is heading to the Caribbean Sea as a part of a Pentagon technique it says is supposed to strengthen the battle towards drug trafficking in South America. The information was confirmed late final week by Sean Parnell, assistant secretary of protection for public affairs, via his social networks. In his message, he defined that the…

China just confirmed that they are building a fourth Aircraft Carrier. Once it is completed and put into Service, they and the United States (US) will be the only ones operating Nuclear-powered Aircraft Carriers that also uses Electro Magnetic Catapult System (ECMS)

Constellation Energy will use a portion of newly announced federal funding for the Midwest Hydrogen Hub (MachH2) to build “the world’s largest nuclear-powered clean hydrogen facility” at its 2.3-GW LaSalle Clean Energy Center in Illinois. The company on Oct. 16 said it plans to leverage a $1 billion award announced by the Department of Energy (DOE) last week for MachH2—a massive hydrogen hub that…

TeraWulf's nuclear-powered Bitcoin mining facility goes online

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TeraWulf (WULF) has launched its Nautilus Cryptomine facility marking the inauguration of the first bitcoin mining facility in the US powered by nuclear energy.

New Nautilus facility opens in Pennsylvania

The mining giant has put almost 8,000 rigs into operation, generating a substantial computing power or hash rate of around 1.0 exahash per second (EH/s).

According to a press release published March 6, TeraWulf anticipates energizing an additional 8,000 rigs in the upcoming weeks, which will expand the capacity of the Nautilus facility in Pennsylvania to 1.9 EH/s by May.

TeraWulf’s energy expenses will significantly decrease due to the Nautilus facility, as the company has secured a five-year power agreement for 2 cents per kilowatt hour (kWh) of power, it said in the release.

Lowering Bitcoin average energy cost

To validate transactions and ensure the security of the network, Bitcoin utilizes a proof-of-work (PoW) mining algorithm.

However, this process requires miners, or specialized computers, to consume an enormous amount of energy, currently estimated at around 117 terawatt-hours per year, which is equivalent to the energy consumption of a small country.

This deal will bring the average energy cost down to roughly 4 cents/kWh across its two facilities, the company added, which is notably lower than the U.S. industrial average of 9 cents/kWh reported by the Energy Information Administration in December 2022.

Additionally, this rate is lower than the variable rate TeraWulf typically pays at its New York site, which averages at 5 cents/kWh.

TeraWulf’s Nautilus mine is the first behind-the-meter bitcoin mining facility to directly source carbon-free, baseload power from the Susquehanna nuclear generation station in Pennsylvania.

The company has a 25% interest in a joint venture with Texas energy producer Talen Energy, a green initiative is expected to significantly reduce TeraWulf’s energy costs, and the company is targeting to achieve 5.5 EH/s of computing power by early in the second quarter of 2023.

Despite this development, TeraWulf’s stock WULF is down 2.5% to 64 cents in Monday trading.

Despite concerns about the environmental impact of Bitcoin mining, the trend of deploying updated machines and new fleets is expected to continue, leading to a continuous increase in the global computing power used for mining, known as hash rate, since 2016.

By powering Bitcoin mining facilities with nuclear energy, it is possible TeraWulf’s Nautilus Cryptomine facility will significantly reduce energy costs and mitigate the environmental impact of Bitcoin mining.

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