US Mining Company TeraWulf Buys 30,000 Bitcoin Mining ASICs Ahead Of IPO

The U.S. cryptocurrency mining company TeraWulf ordered 30,000 Bitcoin BTC/USD mining application-specific integrated circuits (ASICs) from the world's leading specialized hardware producer Bitmain.

What Happened: According to an official announcement, TeraWulf signed an order of 30,000 units of Bitmain’s Antminer S19j Pro latest generation Bitcoin mining ASICs.

The mining company plans to become a publicly traded company that owns and operates fully integrated environmentally clean cryptocurrency mining facilities in the United States.

The agreement provides for a monthly allotment to be delivered from January to June of 2022, and after all the machines are delivered, the company will increase its hasharate by 3 Exahashes per second.

As of press time, an estimate of the value of the Bitcoin produced with such a hashrate is $633,000 or 18.19 BTC per day, which equates to $19 million or 545.8 BTC per month.

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TeraWulf CEO and Chairman Paul Prager described this agreement as just the next step in the company's "plan to rapidly and efficiently scale" its operations.

"With Bitmain’s miners in place, we expect to substantially increase our total mining hashrate, furthering our efforts to generate environmentally sustainable Bitcoin at an industrial scale <..> as we seek to position our company as the leading miner of sustainable Bitcoin globally,” he continued.