TeraWulf Inc. (NASDAQ: WULF) is a publicly traded Bitcoin mining company with a mission to mine Bitcoin using 100% zero-carbon energy. Founded in 2021 by Paul Prager (CEO), TeraWulf’s flagship operation is the Lake Mariner facility on the shore of Lake Ontario in upstate New York, powered via direct interconnection to the Nine Mile Point Nuclear Generating Station — one of the largest nuclear plants in the United States. TeraWulf represents one of the strongest cases in the industry for nuclear-powered Bitcoin mining.
Background
TeraWulf was founded specifically around a thesis that institutional Bitcoin mining could be differentiated on energy profile. Paul Prager had a background in power generation and energy development, giving TeraWulf the expertise to negotiate direct power agreements with nuclear plant operators — a significantly more complex undertaking than simply locating near grid access.
Lake Mariner Facility
The Lake Mariner Data facility is located on the site of a former coal power plant — a repurposing story that strengthens the environmental narrative. Key characteristics:
- Power source: Nine Mile Point Nuclear Station (zero-carbon)
- Location: Somerset, New York, on Lake Ontario
- Scale: Multiple buildings of ASIC miners; expanding toward 500+ MW total capacity
- Carbon footprint: Claims the lowest reported carbon intensity per Bitcoin mined among public miners
Nuclear Bitcoin Mining Theis
TeraWulf’s nuclear power angle has made it a reference company in discussions about Bitcoin mining’s environmental profile. Nuclear energy is baseload, carbon-free, and available 24/7 — ideal for Bitcoin miners who need constant power. TeraWulf has published research arguing that Bitcoin mining can serve as a “flexible load” for nuclear plants, stabilizing plant economics by providing guaranteed demand during off-peak hours.
Related Terms
Sources
- TeraWulf Website — official corporate site.
- WULF on NASDAQ — financial data.
- Lake Mariner Facility Overview — operational details.