TeraWulf more than triples bitcoin production in Q4

TeraWulf ( NASDAQ: WULF ) said Monday it mined 125 bitcoin in December, bringing its Q4 total production to 378 BTC, up 223% compared with Q3. Shares of the cryptocurrency miner rose 2.9% in morning trade. Fleet of deployed miners reached ~18K with hash rate capacity over 2 EH/s. TeraWulf ( WULF ) said it navigated extreme operating conditions during last month's winter storm and quickly returned to full production at the storm's close. Despite weather-related price volatility in December, the company guided for average power cost of ~$0.035/kWh across its two sites. TeraWulf ( WULF ) operates ~18K bitcoin miners with a hash rate capacity over 2 EH/s at its Lake Mariner facility. The company received ~4.5K miners in December and an additional ~3.8K miners were delivered during the first week of January from Bitmain Technologies . TeraWulf ( WULF ) is scheduled to receive over 18K additional miners from Bitmain over the coming months. The firm expects to have total operational capacity of 49K miners (5.5 EH/s) in early Q2 2023, representing about 160 MW of power demand. SA Quant warned investors that TeraWulf ( WULF ) is at high risk of performing badly .