TeraWulf leases 70 MW for AI, raises the cost of Bitcoin mining
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TeraWulf is moving into AI by leasing data center space to Core42. This deal will help the company provide over 70 MW of power at its Lake Mariner facility. This shift from Bitcoin mining to AI will bring in more money and meet the growing need for energy-efficient infrastructure. TeraWulf Expands into AI Infrastructure TeraWulf Inc., mining company recently announced an expansion into artificial intelligence (AI) infrastructure. On December 23, the company revealed that it had signed agreements to lease data center space to Core42 which is an AI and cloud services provider. According to the deal, TeraWulf will provide over 70 megawatts (MW) of data center power at its Lake Mariner facility in Upstate New York. The infrastructure will also be rolled out in phases between the first and third quarters of 2025. These data centers will be set up to support Core42’s GPU clusters, using advanced Dell Integrated Rack Scalable Solutions. This partnership marks an important shift for TeraWulf, placing the company at the crossroads of two fast-growing industries: AI computing and Bitcoin mining. By leasing its data center space to Core42, TeraWulf is diversifying its sources of income and increasing its long-term earnings potential. The company has mainly focused on Bitcoin mining with sustainable operations and is now expanding into AI as a new business model. The increasing demand for efficient, scalable computing infrastructure in both AI and cryptocurrency sectors gives TeraWulf a great opportunity to benefit from these growing markets. TeraWulf’s CEO, Paul Prager, stressed how important this partnership is. He said it helps the company expand beyond Bitcoin mining and positions it as a leader in AI-driven computing. He pointed out that moving into AI will be a key factor for future growth, especially as the company continues to use mostly zero-carbon-powered infrastructure. This fits…
Filed under: News - @ December 25, 2024 1:10 am