Nuclear Bitcoin Mining at Terawulf Is Only One Piece of the Green Mining Jigsaw
Join Our Telegram channel to stay up to date on breaking news coverage A novel Bitcoin mining project is ready to launch in Northeast Pennsylvania. Terawulf is setting up a mining plant fueled by nuclear energy called Nautilus. Terawulf first said in 2021 that Nautilus’ fleet of 15,000 mining machines will have a hash rate of 1.6 exahashes per second (EH/s) when it reaches full capacity later in Q1 of this year. It is equivalent to 1.6 quintillion hashes per second, or around 0.54% of the present processing power of the whole Bitcoin mining network, which is operating at a speed of 294.09 EH/s. Yet, more crucially, none of this new mining power will come from fossil fuels, possibly resolving a long-standing critique of the most popular cryptocurrency. A proof-of-work (PoW) mining method is used by Bitcoin to verify transactions and protect the network. Now, miners—computers designed for confirming transactions and earning Bitcoin—consume around 117 teraw...