{"id":21155,"date":"2023-08-14T13:58:53","date_gmt":"2023-08-14T13:58:53","guid":{"rendered":"https:\/\/nftandcrypto-news.com\/crypto\/terawulf-increases-self-mined-btc-in-q2-while-hut8-looks-to-usbtc-merger\/"},"modified":"2023-08-14T13:58:56","modified_gmt":"2023-08-14T13:58:56","slug":"terawulf-increases-self-mined-btc-in-q2-while-hut8-looks-to-usbtc-merger","status":"publish","type":"post","link":"https:\/\/nftandcrypto-news.com\/crypto\/terawulf-increases-self-mined-btc-in-q2-while-hut8-looks-to-usbtc-merger\/","title":{"rendered":"TeraWulf increases self-mined BTC in Q2 while Hut8 looks to USBTC merger"},"content":{"rendered":"
Bitcoin (BTC) mining firm TeraWulf has seen a drastic increase in BTC rewards after increasing its mining capacity in the first half of 2023.<\/p>\n
According to the company\u2019s latest quarterly filing\u00a0with the U.S. Securities and Exchange Commission, TeraWulf mined a total of 1441 BTC through the first half of the year. 508 BTC were mined in Q1, while the firm added another 375 self-mined BTC to its balance sheet in Q2.<\/p>\n
The increase in hashrate and mined BTC also led to an uptick in quarterly revenue for the company, up from $11.5 million to $15.5 million in Q2. The company pointed to their increased hashrate and the recovering market value of Bitcoin as primary reasons for its improved quarterly financials.<\/p>\n
Related:\u00a0TeraWulf goes nuclear: 8,000 rigs spool up in Nautilus mining facility<\/em><\/strong><\/p>\n The firm now has over 50,000 new generation Bitcoin miners which it operates across its Lake Mariner site in New York and its Pennsylvania nuclear-powered Nautilus operation. TeraWulf\u2019s operational hash rate sits at 5.5 EH\/s while it has 160 MW of capacity for miners at the two sites.<\/p>\n