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TeraWulf: Because Who Needs Profit When You Can Lose 92 Million Dollars and Still Keep Chugging Along!

BitcoinCrypto NewsFeatured Kevin Nelson October 4, 2024

An illustration of a Bitcoin miner's helmet, with its head turned away from an explosion of cash and coins flying out of a burning building behind it. The helmet is still chugging along, oblivious to the chaos.

The world’s greatest investment opportunity, or so I’m told by the crypto bros at TeraWulf! They’ve just sold their stake in a 200 megawatt Bitcoin mine to Talen Energy for $92 million and are now going to use that cash to build an even bigger mining operation… because what could possibly go wrong? The proceeds will also be used to buy more miners, which is basically like throwing money into a black hole. And let’s not forget the pièce de résistance: they’re planning on using some of this cash to host AI and high-performance computing data centers at their Lake Mariner base in western New York. Because what could possibly go wrong with combining two industries that are both ripe for disruption? I mean, it’s not like we’ve seen any other companies try to do something similar before… *cough* FTX *cough*. But hey, TeraWulf is committed to using zero-carbon energy, so at least they’re trying. Sort of.

Source: cointelegraph

TeraWulf sells its 25% stake in Nautilus Cryptomine for $92M
https://cointelegraph.com/news/bitcoin-miner-terawulf-sells-stake-nautilus-cryptomine-92-million
Bitcoin mining firm TeraWulf sold its stake in a 200 megawatt Bitcoin mining facility to its partner, Talen Energy, for $92 million — and said the proceeds will go toward AI and Bitcoin mining.  “This transaction allows TeraWulf to achieve a 3.4x return on its investment in Nautilus,” TeraWulf said in an Oct. 3 statement.  TeraWulf intends to reinvest much of the $92 million in building a 20-megawatt facility for […]

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About the author

Kevin Nelson

Kevin’s foray into cryptocurrency trading was a full-scale disaster. His obsession with chasing trends and leveraging obscure assets led to a catastrophic loss of his entire life savings. Now, Kevin’s articles are a venomous mix of bitter humor and harsh reality checks, exposing the chaotic and treacherous world of crypto trading. His catchphrase: “I went from trading genius to broke fool in record time. Welcome to crypto—where the only thing guaranteed is your financial ruin.”

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Disclaimer

The content presented on this site is intended solely for entertainment purposes and should not be taken as factual or reliable information. This site employs satire and humor to discuss global news, current events, finance, and cryptocurrency. The views expressed here are not meant to be taken seriously and do not represent the opinions of any individuals, organizations, or entities discussed.

Please be aware that the content may be exaggerated, fictionalized, or otherwise altered to create a comedic effect. It is not intended to provide financial advice, make accurate predictions, or offer any serious commentary on current events or financial markets.

Readers are encouraged to verify any claims or statements with credible sources and should not make any decisions based on the information provided here. This blog is not responsible for any actions taken based on its content. Always consult a qualified professional before making any financial or investment decisions.

Please do not hesitate to contact us if you have any questions or concerns.

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