TeraWulf said it will use the proceeds to buy cheaper Bitcoin miners and expand its AI and high-performance computing streams.
Bitcoin mining firm TeraWulf has just sold its stake in a 200 megawatt Bitcoin mining facility to its partner, Talen Energy, for $92 million — and says its proceeds will go toward AI and Bitcoin mining.
“This transaction allows TeraWulf to achieve a 3.4x return on its investment in Nautilus,” TeraWulf said in an Oct. 3 statement.
TeraWulf intends to reinvest much of the $92 million into the construction of a 20 megawatt facility for hosting AI and HPC data centers at its Lake Mariner base in western New York and buy more Bitcoin (BTC) miners.
