This week, bitcoin mining companies Terawulf and Cleanspark announced significant increases in their operational hash rates, with Terawulf reaching 7.6 exahashes per second (EH/s) and Cleanspark surpassing 14
This week witnessed significant expansion in the bitcoin mining sector, with two leading companies announcing substantial increases in their operational hashrate. Terawulf revealed that its own mining business had increased to 7.6 exahash per second (EH/s) this month.
Terawulf Hashrate Reaches 7.6 EH/s
On Thursday, Cleanspark announced an increase in fleet operating hashrate worldwide, surpassing 14 EH/s. On Thursday, Terawulf (Nasdaq: WULF) announced the repayment of a $22 million term loan, increasing the company's cash flow. To date, Terawulf has repaid $40 million in loans and anticipates paying off another debt in April, leveraging profits from the first quarter. Additionally, Terawulf reported an increase in total computing power to 7.6 EH/s, with expectations reaching 8 EH/s s at the end of Q1. The company also shared progress on its Lake Mariner facility, projecting a hash rate increase to 10 EH/s by mid-2024.
Cleanspark Hashrate Exceeds 14 EH/s
"Over the past year, we remained steadfast in delivering on our commitment to deleveraging, marking a significant financial milestone for the company," Terawulf CFO Patrick Fleury said in a statement. "With industry-leading costs to mine bitcoin, we are poised to make a substantial debt payoff in the first week of April from cash generated in the first quarter."On the same day, Cleanspark (Nasdaq: CLSK) revealed that the company had completed energizing the first 100 MW of its expansion at its Sandersville, Georgia facility. This achievement has pushed Cleanspark's computing power beyond 14 EH/s. Company CEO Zach Bradford further revealed that the team had been sent to Mississippi to work at locations in the state. "I believe we may have set an industry record for speed of machine deployment, thanks to the incredible grit and determination demonstrated by our team and partners in Sandersville,” Bradford said Thursday.
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