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Bitcoin Stocks in Play as Bitcoin Aims for New Highs - TeraWulf Inc. (Nasdaq: WULF) Gains on Production Update


June 5, 2024 ( Newswire), a go-to platform for big investing ideas, reports on trading for TeraWulf Inc. (Nasdaq: WULF), owners and operators of vertically integrated, domestic bitcoin mining facilities powered by 95% zero-carbon energy

As Bitcoin trades at $71,632.16 US, gaining 1,038.11 , it looks set for a breakout and analysts are predicting a new all- time high on the horizon, as soon as next week.

TeraWulf Inc. (Nasdaq: WULF) is on the rise in today's trading session, currently at $2.6032, up 0.0932, gaining 3.7131%. The stock had a morning high of $2.68.

Other bitcoin miners are seeing marginal gains as traders watch Bitcoin prices.

Yesterday, TeraWulf provided an unaudited monthly production and operations update for May 2024.

May 2024 Production and Operations Highlights

Self-Mined Bitcoin: Mined 186 bitcoin in May, reflecting the first full month of reduced block rewards following the April Halving event, with an average production rate of approximately 6.0 bitcoin per day.

Power cost: Averaged $31,239 per bitcoin self-mined in May, reflecting an approximate rate of $0.039/kWh and excluding the benefit of expected demand response or ancillary services proceeds.

Operating Capacity: TeraWulf's installed and operational self-mining capacity reached approximately 8.0 EH/s, representing an 82% year-over-year increase.

AI/HPC Pilot: Advancing 2.0 MW AI pilot at Lake Mariner, designed to accommodate next generation GPU technology and meet SOC 2 standards.


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