Bitcoin miner TeraWulf signed a offer to get 15,000 bitcoin mining rigs from Bitmain Systems, the business said in a declaration Tuesday. TeraWulf has however to file an application 8-K with the Securities and Trade Commission (SEC) detailing the agreements terms.

This obtain Bitmain, that is TeraWulfs largest purchase of the next-era bitcoin mining devices, signifies our close romantic relationship with Bitmain and our capability to procure significant levels of miners once we grow our working capability, Paul Prager, TeraWulf CEO, said in a declaration. As we prepare to begin with mining operations through the next one fourth, we remain centered on our objective of producing environmentally sustainable bitcoin at commercial scale.

The contract lays out a regular delivery of 2,500 devices from July to December of following year. TeraWulf stated it expects to possess 800 megawatts (MW) of strength focused on bitcoin mining by 2025, allowing a theoretical result of 23 exahashes per 2nd (EH/s).

Previously this 30 days, the miner elevated about $200 million with debt and equity funding, wanting to deploy capital to attain 6 EH/s of hashrate capability by the second 1 / 2 of 2022. TeraWulf elevated the sum from the group of traders, executives, and entrepreneurs, which includes actress Gwyneth Paltrow, in accordance with a tweet by Prager.

Thrilled for @GwynethPaltrow, amongst others, to purchase @TeraWulfInc and support we of energy entrepreneurs brand-new paradigm for best-in-course cryptomining that makes use of 100% zero-carbon power, per the tweet.

The investment came inside anticipation of the companys open public listing on the Nasdaq beneath the ticker symbol WULF, a feat the miner scored inside a reverse merge with IKONICS. Paltrows co-traders in TeraWulf consist of FIGS co-CEO and co-founder Trina Spear, business owner Sara Foster, and tech executive and advisor Pegah Ebrahimi.


In accordance with its website, TeraWulf presently owns two bitcoin mining farms, a hydro-powered service on the shores of Lake Ontario casing 90 MW of energy, and a surgical procedure located at a 2.5 GW nuclear power facility.

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