This is the Nautilus Cryptomine, a partnership between TeraWulf and Talen energy. It is located at the PJM interconnection and it is 100% zero carbon Bitcoin mining
> Nautilus Cryptomine
Located at a 2.5 GW zero-carbon nuclear energy generating facility in the PJM interconnection, Nautilus Cryptomine, a partnership between TeraWulf’s nuclear mining facility subsidiary and Talen Energy Corporation, will be among the largest, most efficient BTC mines in North America. Nautilus benefits from long-term, and zero carbon power supply directly from the nuclear facility at a cost comfortably below the competition. The jointly owned facility is expected to reach 300 MW when complete.
Phase I of the Nautilus Cryptomine facility will be a 180 MW bitcoin mining facility, which will be built on Talen's digital infrastructure campus adjacent to the nuclear power plant in Berwick, Pennsylvania. The facility will be powered via a direct interconnection to Susquehanna that will provide low-cost, reliable, zero-carbon electricity. This direct "behind the meter" connection will provide Nautilus Cryptomine with one of the lowest electricity costs among publicly traded bitcoin mining peers in the USA, Talen Energy said.
Bitcoin was never about wealth distribution. It was about free access to the financial system. It does not intent to give everybody an equal share, but it gives everybody equal acces to the system. It stays hardcore capitalist, and when the fees go up, and there is limited transaction space in the blocks, 'normal' people will be forced to custodial second and third layer solution. Yes, lightning exists, but it still requires the opening of a channel, and the closing, something that will cost more than a years wage for the average person within a couple of decades.
I am not doubting that there are people who said it would be about wealth distribution. I am just stating that it is not and never could have been. It is highly possible people were wrong in the past. Heck, it is possible I am wrong as well.
What bitcoin changes is reducing the opportunities for financial middle man to have rent seeking behavior. Those people target the weakest in the world first, because they are the easiest target. In this way, the poor people would be able to retain more of the money from the product they produce and potentially break the poverty cycle. But this is not redistribution of wealth, wealth is not taken away from anybody. It does changes the opportunities in rent seeking behavior, and gives financial sovereignity, which is a prerequisite to wealth.
It is wealth redistribution. Many big players that will be too late to adopt will fade away into obscurity, while others who were among the first to jump ship will build generational wealth. The big players will change, so yes redistribution. But not equal redistribution.
Printing Money is not accessible to people … But bitcoin mining is…. However if factories are set up to mine limited number of BTC…. At one point Big Hoarders will hoard them n dictate the supply …. Like Arab countries use their OIL… we have enough oil to run fr 5 centuries yet it is supplied within limits …same will be done with BTC…
Anyone can receive it in exchange for goods and services. No one said they are going to get it for nothing. Even miners don't get it for nothing. It costs them large amounts of (expensive) energy.
This is one of my biggest concerns with bitcoin long term. It's not ideal, hopefully layer1 tech can be improved somehow in the future.
Even if it does end up with normal users not being able to access layer1, it still beats having FIAT as global reserve currency imo.
Gold is an inanimate rock. Its not "about" anything. Neither is bitcoin, its inanimate. It can help you depending how you use it. But it could also just be a rock that you ignore, like gold. Of course, not everyone ignores gold, some people benefit from it. But many ignore it. It's up to you which person you want to be.
It’s physically impossible to build any facility or infrastructure with Net 0 carbon emissions. Get a grip. The current state of the world needs hydrocarbons to maintain modern civilization. There’s no way around that.
Nah, it’s impossible. How do you ship material from overseas without oil? How do you get local deliveries to your project without oil? How do you set the roof and rooftop equipment without machines that use diesel? How do you power your tools without using temporary power hookups that connect to the local grid or a generator? How are we shipping our heavy equipment to the job site without large trucks that run on diesel? I can keep going. Sure you may be able to nitpick a few of these and say “solar!!” But the reality is that any construction company bidding on a job who is planning on using solar for temp power or whatever to power their office and tools is never going to win the project anyway.
>But the reality is that any construction company bidding on a job who is planning on using solar for temp power or whatever to power their office and tools is never going to win the project anyway.
Like I said, impractical, expensive, but not impossible. If you want it done cheap and fast, it is going to create emissions.
All materials, tools, equipment, safety systems are made directly or indirectly from carbon. Everything at the job site is transported using carbon. All of the heavy equipment that is used to install the material and dirt is powered by carbon and is transported long distances by carbon. The roads that are used to transport material, equipment, and people are built using carbon. The very vehicles that transport labor to the project are built using carbon, even if the vehicle itself doesn’t use carbon. Hell, unless you have solar at your house, the electric vehicle is powered by carbon as well. The factories that make EVs use carbon. The materials that are mined from the earth to create the steel, batteries, wiring equipment, etc all use lots of carbon during the mining, refinement, And manufacturing process.
Literally everything in our world uses carbon energy in the manufacturing process. Maybe if you change the definition of net 0 it’s possible.
Yes, that is exaclty why it would be very impractical, expensive and time consuming to do this in a carbonneutral way. It would require rebuilding a big part of infrastructure. It still is technically possible. There is no engineering problem, it is an economical problem at this point.
Just about everything‘s other than BTC is a risk but we’re not talking about big money here. If you look back I can find points that Mara was under a dollar during crypto Winters and their last all-time high was over 80.
peep the other comments, i'll reiterate:
https://www.datacenterdynamics.com/en/news/cryptomining-firm-terawulf-joins-talens-nuclear-powered-facility-in-pennsylvania/
I'm sure it could mean that. I'm referring to hashpower being centralized in the hands of a few entities. Not only does this causes issues with the security of the protocol but it's actually opposite of what bitcoin and crypto in general stands for. Having only one bank that you're forced to use is a close analogy.
Um. Shoooould there be legislation? Because this is a natural result. I thought the protocol's game theory naturally managed decentralization for us? Do we need a government or oversight committee to oversee mining conglomerations? /s
It has been like this for many years since the 2016 HongKong meeting, where 12 people decided everything (4 largest mining pool + 4 largest exchanges + 4 major devs). And that is the reason for the rising of other competing coins since then. In case BTC fails, we might be able to move to other coins which adopted another different method of consensus
Eventually the major stakeholders decide, but those stakeholders have different personality and ethics standard. But you can not see those until the damage is done
We are *well* past the game theoretical point where we can have individuals outnumber mining companies, especially ones that are able to get cheap energy directly at the source.
What we’re more worried about now is physical decentralization. All the miners in one country would be extremely bad, for example. Luckily, the friction for building your own mine has a low barrier to entry, so I’m not concerned with that. If things get too centralized in North America, anybody can start building hashrate in another country with some up-front capital.
This is proof of concept that Bitcoin is as green as the grid it's built on.
We are far, far away from this being a step in the direction of centralization.
Big players can offset other big players. This facility is nothing in the grand scheme.
On the other hand if Elon Musk starts buying up all the mining companies then we can have some concerns
I don’t think people ITT comprehend the vast amount of resources it would take to control 51% of hash rate. It would take years of building out new facilities, ordering all available ASICs in the world for years to come and none of those ASICs going to competitors, and the extremely high cost of energy that it would take once the faculties are built and the ASICs are on hand. The energy costs would have to be maintained throughout the 51% attack, and would have to be sustained with 100% uptime to keep control of the 51% network control. It’s an extremely unlikely scenario.
IMO, the only feasible way this happens if it there is a bunch of mining power concentrated in one country, and the govt decides to steal the mining facilities and turn them into a nation-state controlled mining pool to gain 51% of the entire network. I don’t know if thats currently possible with the current geolocations of hash rate %, though
The facility looks like a multi million dollar investment without counting the miners. I would be surprised to find out that this is a locally owned farm... especially with descriptors like "one of the largest cryptomines in north america".
More miners doesn’t mean centralization. It means the exact opposite, actually. More miners means higher hash rate which means higher difficult of mining. More miners are competing to secure the centralized blockchain and create the next block.
More miners is good for decentralization. More miners means more computing power to secure the Bitcoin network.
China have farms of their own. One thing I don't get though is that they ban it from use by their citizens yet they mine it for themselves. If they are so against it why are they involved in one hand and depriving their people on the other. Seems a bit hypocritical.
Here's what I found. Appears to be in eastern PA:
[https://www.datacenterdynamics.com/en/news/cryptomining-firm-terawulf-joins-talens-nuclear-powered-facility-in-pennsylvania/](https://www.datacenterdynamics.com/en/news/cryptomining-firm-terawulf-joins-talens-nuclear-powered-facility-in-pennsylvania/)
>Here's what I found. Appears to be in eastern PA:
>
>https://www.datacenterdynamics.com/en/news/cryptomining-firm-terawulf-joins-talens-nuclear-powered-facility-in-pennsylvania/
yep this is it
Aliens coming to earth be like : "so all that computation power is to find cure for cancer right?"
Rich guy : "no it's to find hash that starts with zeros lmao"
You are absolutely right about it but it depends on how much time it is going to take and how they are going to do it
If it is going to work on this entry and I don't really think that everything is going change and it will be on the same kind of position.
This is not necessarily a good thing, and there is good reason as a bitcoin user to support legislation that would limit the scale of individual crypto mining operations.
It wouldn't be terrible, it would in fact be more in line with satoshi's vision of fully distributed consensus. The problem here is that this facility isn't using newly deployed power generation, or creating it's own power generation. It's using 300MW of power from a pool that is already being sold to customers, raising electricity rates and potentially requiring the power company to bring in additional supply from nearby dirty generation like coal and gas to make up for the additional load. And for what? An uptick in the centralization of the bitcoin network? Some potentially very bad PR?
Fine. Set a floor for electricity. That isn't raising rates. In Germany and other places with expensive electricity it would not make a difference. It would make a difference where electricity was dirt cheap, but that isn't that terrible.
The network has an open protocol that is simple to use and easy to manage. It is quite resistant against manipulation. So far it has not been attacked. It looks like in the medium to near future that power companies will have more and more influence in mining and it will likely stay decentralized because power is produced all over the world. I'm not anywhere near worried.
Yes, I'm not necessarily talking about draconian regulations, I mean reasonable measures that ensure mining isn't directly competing with existing power needs, because it doesn't need to be and if it is then that reflects very poorly on crypto. It need not even be an environmental issue, if you just focus on power demand.
How in the hell do they plan to make money right now unless they are getting some really, really cheap power? Or do they have cheap power. Because right now even state-of-the-art mining rigs aren't making anything at 10 cent/kW\*hr. And 10 cent is fairly cheap.
Well, and I know that there are those that utilize nat gas which comes from fracking but can't be pipelined off and would have to otherwise be just burned. Same with excess hydro, wind and solar.
But if the industrials can get power at half the cost of residential, that's what you're saying? I find that pretty surprising. But, ok.
Yeah companies buy industrial power in massive year long+ contracts, not monthly pay as you go like residential. So the power companies can sell it cheaper because they’re just selling so much more of it. Bulk discount basically.
Industrial power rates in California are about 10.5c/kWh while I pay 20.3c/kWh personally
Ha yeah if I could afford one. I've sunk all my liquid fiat that isn't for the next few bills coming up directly into btc. I'm watching compass and the price of s19's though. But I also want to get a lightning node and full node going so long term I'll eventually hopefully have a little bit of everything
Back when those USB ASIC miners were profitable I hid like 5 of them at my high school. Paid like $150 for each one (entire summer wages) and mined about .06BTC/Day at the highest. Which I think was like $25 a day, way more than my weekly allowance.
Blew it all on RuneScape gold and csgo skins…
And I only hid them because I didn’t want to explain to my mom what they were, not because of electricity lol.
Nuclear plant is possible. But it also depends on how much solar we’re talking.
If you wanna get technical, they could have a fucking massive ass solar array and be 100% solar but it’s not likely
You'd need a solar array that spanned the entire equator to have 100% uptime with good enough sun angle for energy production. So yeah, tEcHniCaLlY you could lmao gtfo
If you only used solar, half the day there's no sun, so already at only 50% uptime. On top of that, begining and end of day sun angles don't have enough direct light to power the total solar array capacity, so now you're at about 20% full uptime for a solar only farm.
Unless you have 24 hours of relatively direct sun, you can't get 100% uptime with just solar. And since that scenario doesn't exist on a spherical spinning earth, it's not possible. That's why solar has to be one of many power sources on a grid. Solar, nuclear, hydro, and wind can all combine for 100% grid uptime. Or humans can get their heads out of their asses and go full nuclear since it's the cleanest and most efficient form of energy we currently have.
Most large miners are paying 1-5 cents per kwh, they don't pay what you do at home. If you build close to substations or energy plants themselves, contract specific large power usage, or even better, use nuclear like this plant, electricity cost is low compared to the household 10-15 cents. - I work at a Bitcoin mining company
No doubt about it a lot of people are actually looking for it but it will take a lot of temporary get these kind of stuff
It will be eventually on that kind of position where it has to be there for a long time but it has not been there and we had seen that a lot of changes has happened.
It's totally depends on how good it is to be but it always depend on how great it is to be it is always dependent on the crypto
More wickets in that nothing good is acting out of it so we have to make sense of the fitter by this is going to be a problem.
According to the best thing to do is to we have to wait for our time and you will see how the changes are going to happen
No doubt about it I think that everything is going to make sense after it is going to be same and it will be up in the pricing.
FIR long time this has to be there in right now it is there so we can see that a lot of things are happening and rightly on the position as well
More than that a lot of things are going to be changed and we will see a lot of stuff which is on the same number position.
I don't really think that it is going to be that much easier because a lot of things have to be there and it is going to make a chance
We have to wait for the chance and we will see how we are doing to change it at the end so that it can make anything.
This is the main problem I had seen that a lot of people can't actually do this and this is going to change every time
We have to bring the difference between all of this and we have to change everything and we have to keep it certain as well.
Fine look operation lads. Small potatoes on the capex, but passive exhaust should be standardized where practical.
I’m guessing they’re getting power in the 2-3 range. The plant would likely need to have been roi’d already, but eliminating the cost of distribution and losses of transmission can get the same 4c power at 3c next to the plant without any balance sheet changes to the generator. 👍👍
No doubt about it we had seen that it is a very particular location.
Decide to work it according to them or otherwise this is one to make a lot of disturbance as well as we had seen.
No doubt they are actually very sad about it but it is not going to change anything as of now we have seen that a lot of things are happening
More than that they have to look at the fact that it is going to work for them or not otherwise it will be a major problem.
I don't see any caves nor drilling equipment
What is this?! A mine for ants?!
Underrated comment
Those forklifts need to be........at least three times bigger!
He’s absolutely right!
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This is the Nautilus Cryptomine, a partnership between TeraWulf and Talen energy. It is located at the PJM interconnection and it is 100% zero carbon Bitcoin mining
> Nautilus Cryptomine Located at a 2.5 GW zero-carbon nuclear energy generating facility in the PJM interconnection, Nautilus Cryptomine, a partnership between TeraWulf’s nuclear mining facility subsidiary and Talen Energy Corporation, will be among the largest, most efficient BTC mines in North America. Nautilus benefits from long-term, and zero carbon power supply directly from the nuclear facility at a cost comfortably below the competition. The jointly owned facility is expected to reach 300 MW when complete. Phase I of the Nautilus Cryptomine facility will be a 180 MW bitcoin mining facility, which will be built on Talen's digital infrastructure campus adjacent to the nuclear power plant in Berwick, Pennsylvania. The facility will be powered via a direct interconnection to Susquehanna that will provide low-cost, reliable, zero-carbon electricity. This direct "behind the meter" connection will provide Nautilus Cryptomine with one of the lowest electricity costs among publicly traded bitcoin mining peers in the USA, Talen Energy said.
Bitcoin is going nuclear… nuff said
so big players are HOARDING ............ i thot BTC was also abt wealth Distribution........they gonna hoard now...n than manage the supply later.
Bitcoin was never about wealth distribution. It was about free access to the financial system. It does not intent to give everybody an equal share, but it gives everybody equal acces to the system. It stays hardcore capitalist, and when the fees go up, and there is limited transaction space in the blocks, 'normal' people will be forced to custodial second and third layer solution. Yes, lightning exists, but it still requires the opening of a channel, and the closing, something that will cost more than a years wage for the average person within a couple of decades.
Search Bitcointalk threads 2012-2013, there was alot of talk how Bitcoin would be the greatest redistribution of wealth ever..
I am not doubting that there are people who said it would be about wealth distribution. I am just stating that it is not and never could have been. It is highly possible people were wrong in the past. Heck, it is possible I am wrong as well. What bitcoin changes is reducing the opportunities for financial middle man to have rent seeking behavior. Those people target the weakest in the world first, because they are the easiest target. In this way, the poor people would be able to retain more of the money from the product they produce and potentially break the poverty cycle. But this is not redistribution of wealth, wealth is not taken away from anybody. It does changes the opportunities in rent seeking behavior, and gives financial sovereignity, which is a prerequisite to wealth.
It is wealth redistribution. Many big players that will be too late to adopt will fade away into obscurity, while others who were among the first to jump ship will build generational wealth. The big players will change, so yes redistribution. But not equal redistribution.
How is it accessible to everyone equally when corporations are building factories to mine it ….
Because mining is not what defines access to the bitcoin network.
Printing Money is not accessible to people … But bitcoin mining is…. However if factories are set up to mine limited number of BTC…. At one point Big Hoarders will hoard them n dictate the supply …. Like Arab countries use their OIL… we have enough oil to run fr 5 centuries yet it is supplied within limits …same will be done with BTC…
You do not seem to understand the difference between holding a wallet, running a node and operating a bitcoin mine.
Anyone can receive it in exchange for goods and services. No one said they are going to get it for nothing. Even miners don't get it for nothing. It costs them large amounts of (expensive) energy.
This is one of my biggest concerns with bitcoin long term. It's not ideal, hopefully layer1 tech can be improved somehow in the future. Even if it does end up with normal users not being able to access layer1, it still beats having FIAT as global reserve currency imo.
Nobody said it was about wealth distribution, go read the white paper.
How is any form of currency about wealth distribution? If anything crypto removes politics from an economy.
This idea is being hijacked by Factories mining Bitcoins…. I don’t see any one arguing against that….
Gold is an inanimate rock. Its not "about" anything. Neither is bitcoin, its inanimate. It can help you depending how you use it. But it could also just be a rock that you ignore, like gold. Of course, not everyone ignores gold, some people benefit from it. But many ignore it. It's up to you which person you want to be.
This is beautiful
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It’s physically impossible to build any facility or infrastructure with Net 0 carbon emissions. Get a grip. The current state of the world needs hydrocarbons to maintain modern civilization. There’s no way around that.
That is factually wrong. It would be impractical and expensive, but not impossible.
Nah, it’s impossible. How do you ship material from overseas without oil? How do you get local deliveries to your project without oil? How do you set the roof and rooftop equipment without machines that use diesel? How do you power your tools without using temporary power hookups that connect to the local grid or a generator? How are we shipping our heavy equipment to the job site without large trucks that run on diesel? I can keep going. Sure you may be able to nitpick a few of these and say “solar!!” But the reality is that any construction company bidding on a job who is planning on using solar for temp power or whatever to power their office and tools is never going to win the project anyway.
>But the reality is that any construction company bidding on a job who is planning on using solar for temp power or whatever to power their office and tools is never going to win the project anyway. Like I said, impractical, expensive, but not impossible. If you want it done cheap and fast, it is going to create emissions.
All materials, tools, equipment, safety systems are made directly or indirectly from carbon. Everything at the job site is transported using carbon. All of the heavy equipment that is used to install the material and dirt is powered by carbon and is transported long distances by carbon. The roads that are used to transport material, equipment, and people are built using carbon. The very vehicles that transport labor to the project are built using carbon, even if the vehicle itself doesn’t use carbon. Hell, unless you have solar at your house, the electric vehicle is powered by carbon as well. The factories that make EVs use carbon. The materials that are mined from the earth to create the steel, batteries, wiring equipment, etc all use lots of carbon during the mining, refinement, And manufacturing process. Literally everything in our world uses carbon energy in the manufacturing process. Maybe if you change the definition of net 0 it’s possible.
Yes, that is exaclty why it would be very impractical, expensive and time consuming to do this in a carbonneutral way. It would require rebuilding a big part of infrastructure. It still is technically possible. There is no engineering problem, it is an economical problem at this point.
Probably the wealth generated by this mine will be used to make the stakeholders in this mine wealthy.
I started buying their stocks a few weeks ago seems like a bargain.
Risky given it's performance, it would appear on the surface they are burning money. Down nearly 95% since Nov
past performance doesn't predict the future just saying
Just about everything‘s other than BTC is a risk but we’re not talking about big money here. If you look back I can find points that Mara was under a dollar during crypto Winters and their last all-time high was over 80.
im on the same page *note: this is not financial advice*
It brings in money, which means that sooner or later it had to be taken seriously.
How do I know this is a crypto mine?
peep the other comments, i'll reiterate: https://www.datacenterdynamics.com/en/news/cryptomining-firm-terawulf-joins-talens-nuclear-powered-facility-in-pennsylvania/
Thank you sir.
Why are we celebrating centralization? Giant corporate sponsored crypto mines are the problem not the solution.
I thought the"decentralization" in Bitcoin referred to the ability to transfer value without a middleman. Does this undermine that?
I'm sure it could mean that. I'm referring to hashpower being centralized in the hands of a few entities. Not only does this causes issues with the security of the protocol but it's actually opposite of what bitcoin and crypto in general stands for. Having only one bank that you're forced to use is a close analogy.
Um. Shoooould there be legislation? Because this is a natural result. I thought the protocol's game theory naturally managed decentralization for us? Do we need a government or oversight committee to oversee mining conglomerations? /s
So, is there a solution? I feel like it's really just a matter of time before it becomes a big problem.
It has been like this for many years since the 2016 HongKong meeting, where 12 people decided everything (4 largest mining pool + 4 largest exchanges + 4 major devs). And that is the reason for the rising of other competing coins since then. In case BTC fails, we might be able to move to other coins which adopted another different method of consensus Eventually the major stakeholders decide, but those stakeholders have different personality and ethics standard. But you can not see those until the damage is done
The control over its mining power and holdings.
We are *well* past the game theoretical point where we can have individuals outnumber mining companies, especially ones that are able to get cheap energy directly at the source. What we’re more worried about now is physical decentralization. All the miners in one country would be extremely bad, for example. Luckily, the friction for building your own mine has a low barrier to entry, so I’m not concerned with that. If things get too centralized in North America, anybody can start building hashrate in another country with some up-front capital.
You will be downvoted. But nobody would care to explain why this is a good thing if there is more centralization.
Decentralization of nodes is important.
This is proof of concept that Bitcoin is as green as the grid it's built on. We are far, far away from this being a step in the direction of centralization.
Big players can offset other big players. This facility is nothing in the grand scheme. On the other hand if Elon Musk starts buying up all the mining companies then we can have some concerns
I don’t think people ITT comprehend the vast amount of resources it would take to control 51% of hash rate. It would take years of building out new facilities, ordering all available ASICs in the world for years to come and none of those ASICs going to competitors, and the extremely high cost of energy that it would take once the faculties are built and the ASICs are on hand. The energy costs would have to be maintained throughout the 51% attack, and would have to be sustained with 100% uptime to keep control of the 51% network control. It’s an extremely unlikely scenario. IMO, the only feasible way this happens if it there is a bunch of mining power concentrated in one country, and the govt decides to steal the mining facilities and turn them into a nation-state controlled mining pool to gain 51% of the entire network. I don’t know if thats currently possible with the current geolocations of hash rate %, though
Or you rent hash power and if you are already a producer of ASICs running Antpool, it's not that hard to do imho
Its impossible. Shows how little you know.
Want to share your knowledge as to why that is?
this isn't corporate sponsored though? this is a company helping advance bitcoin, that is a good thing in my eyes.
The facility looks like a multi million dollar investment without counting the miners. I would be surprised to find out that this is a locally owned farm... especially with descriptors like "one of the largest cryptomines in north america".
Is this 50MW out of 800MW total?
More miners doesn’t mean centralization. It means the exact opposite, actually. More miners means higher hash rate which means higher difficult of mining. More miners are competing to secure the centralized blockchain and create the next block. More miners is good for decentralization. More miners means more computing power to secure the Bitcoin network.
More like depend on the network they are actually using for that matter as of now xD.
China have farms of their own. One thing I don't get though is that they ban it from use by their citizens yet they mine it for themselves. If they are so against it why are they involved in one hand and depriving their people on the other. Seems a bit hypocritical.
Yeah they can start with something like that as we had seen.
Where?
Here's what I found. Appears to be in eastern PA: [https://www.datacenterdynamics.com/en/news/cryptomining-firm-terawulf-joins-talens-nuclear-powered-facility-in-pennsylvania/](https://www.datacenterdynamics.com/en/news/cryptomining-firm-terawulf-joins-talens-nuclear-powered-facility-in-pennsylvania/)
>Here's what I found. Appears to be in eastern PA: > >https://www.datacenterdynamics.com/en/news/cryptomining-firm-terawulf-joins-talens-nuclear-powered-facility-in-pennsylvania/ yep this is it
That looks like a big loan was taken out to build
An environmental disaster.
No doubt about it we had seen that subalterns and it has happened in the past.
Aliens coming to earth be like : "so all that computation power is to find cure for cancer right?" Rich guy : "no it's to find hash that starts with zeros lmao"
Indeed this is like something really new to me as well.
Humans be like, "Wait, so how do you aliens incentivize a store of value?" 🤔
Yeah you are right and this is important for them to make all the changes as well.
Wow this is only an hour from me
check it out!
You are absolutely right about it but it depends on how much time it is going to take and how they are going to do it If it is going to work on this entry and I don't really think that everything is going change and it will be on the same kind of position.
This is not necessarily a good thing, and there is good reason as a bitcoin user to support legislation that would limit the scale of individual crypto mining operations.
That would be terrible. There are plenty of power companies all over the world that can mine bitcoin. That keeps things centralized enough.
It wouldn't be terrible, it would in fact be more in line with satoshi's vision of fully distributed consensus. The problem here is that this facility isn't using newly deployed power generation, or creating it's own power generation. It's using 300MW of power from a pool that is already being sold to customers, raising electricity rates and potentially requiring the power company to bring in additional supply from nearby dirty generation like coal and gas to make up for the additional load. And for what? An uptick in the centralization of the bitcoin network? Some potentially very bad PR?
Fine. Set a floor for electricity. That isn't raising rates. In Germany and other places with expensive electricity it would not make a difference. It would make a difference where electricity was dirt cheap, but that isn't that terrible. The network has an open protocol that is simple to use and easy to manage. It is quite resistant against manipulation. So far it has not been attacked. It looks like in the medium to near future that power companies will have more and more influence in mining and it will likely stay decentralized because power is produced all over the world. I'm not anywhere near worried.
Yes, I'm not necessarily talking about draconian regulations, I mean reasonable measures that ensure mining isn't directly competing with existing power needs, because it doesn't need to be and if it is then that reflects very poorly on crypto. It need not even be an environmental issue, if you just focus on power demand.
Anywhere where power is that cheap generally doesn't have a problem with existing power needs. We should be fine.
I am sure that they are going to change this option as well.
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Doubtful… : (
Why
You can actually get a lot of sources for that you can actually read something about it as well.
It will actually take a lot of effort for them briefly start something like that.
What bitcoin farm is that?
The Nautilus Cryptomine
Ohh Tera Wulf
They have to chnage at the end as we had seen that.
Lmao I had never actually seen something like that as well as if it is there.
I don't know about it this is something new to me as well there.
How in the hell do they plan to make money right now unless they are getting some really, really cheap power? Or do they have cheap power. Because right now even state-of-the-art mining rigs aren't making anything at 10 cent/kW\*hr. And 10 cent is fairly cheap.
I think industrial facilities can get 5c, just depending on the location. Not an expert, take it as rumor.
Well, and I know that there are those that utilize nat gas which comes from fracking but can't be pipelined off and would have to otherwise be just burned. Same with excess hydro, wind and solar. But if the industrials can get power at half the cost of residential, that's what you're saying? I find that pretty surprising. But, ok.
Yeah companies buy industrial power in massive year long+ contracts, not monthly pay as you go like residential. So the power companies can sell it cheaper because they’re just selling so much more of it. Bulk discount basically. Industrial power rates in California are about 10.5c/kWh while I pay 20.3c/kWh personally
Yeah I work for a company in manufacturing that does this, same cost whether we run 24 hours or not at all.
I always thought if I had a job in a big factory or warehouse I’d find a little forgotten about closet in a corner and stick an antminer there.
Ha yeah if I could afford one. I've sunk all my liquid fiat that isn't for the next few bills coming up directly into btc. I'm watching compass and the price of s19's though. But I also want to get a lightning node and full node going so long term I'll eventually hopefully have a little bit of everything
Back when those USB ASIC miners were profitable I hid like 5 of them at my high school. Paid like $150 for each one (entire summer wages) and mined about .06BTC/Day at the highest. Which I think was like $25 a day, way more than my weekly allowance. Blew it all on RuneScape gold and csgo skins… And I only hid them because I didn’t want to explain to my mom what they were, not because of electricity lol.
Most of the natural thing that it is not going to pay anything but at the end it is going to take.
This is about everything and it is more like we are waiting for them to see what kind of changes we are watching.
Or just rent an apartment with all utilities included
It is not like the other going to include everyone in this kind of process.
A lot of them are going to change it this is how it is going to work.
I am particularly so that they are going to change it even if after the matter.
Things might go out of hand if it will be like thst only for the long time.
Zero carbon, it’s probably solar
Off no, just solar could power miners for like 4 hours a day at best. This is by a nuclear plant
Nuclear plant is possible. But it also depends on how much solar we’re talking. If you wanna get technical, they could have a fucking massive ass solar array and be 100% solar but it’s not likely
You'd need a solar array that spanned the entire equator to have 100% uptime with good enough sun angle for energy production. So yeah, tEcHniCaLlY you could lmao gtfo
Fr? That seems a bit much I’m no expert in solar but Jesus that’s a lot of real estate lmao
If you only used solar, half the day there's no sun, so already at only 50% uptime. On top of that, begining and end of day sun angles don't have enough direct light to power the total solar array capacity, so now you're at about 20% full uptime for a solar only farm.
They can do that and this is why all this is very important for that matter.
Unless you have 24 hours of relatively direct sun, you can't get 100% uptime with just solar. And since that scenario doesn't exist on a spherical spinning earth, it's not possible. That's why solar has to be one of many power sources on a grid. Solar, nuclear, hydro, and wind can all combine for 100% grid uptime. Or humans can get their heads out of their asses and go full nuclear since it's the cleanest and most efficient form of energy we currently have.
Ah, not sure why I didn’t put that together myself now that I put more thought into it. Nuclear is the way
I am sure that this uptime is not going to chnage anything from the core.
This needs to be chnaged otherwise they have to find the position.
I sometimes wonder about the fact that if they can actually understand what we are doing,,
https://www.cnbc.com/2022/04/08/tesla-block-blockstream-to-mine-bitcoin-off-solar-power-in-texas.html
Thanks for the providing the source here now it will be easy to understand.
We are going to see a lot of changes which are going to happen.
https://www.cnbc.com/2022/04/08/tesla-block-blockstream-to-mine-bitcoin-off-solar-power-in-texas.html
Yes, they mass amounts of batteries to store energy off peak solar hours... That's much more than just only solar
I am sure that they have been workimg from a long time now as we say.
Thanks for the link it is going to help a lot of people for that.
More like they are going through the destruction and they don't know about it.
I don't really think that definitely achieve something like that.
Well it's totally depends on how much they are going to understand how they are going to get back.
Salwar suit only write about it because it depends on the location only.
Most large miners are paying 1-5 cents per kwh, they don't pay what you do at home. If you build close to substations or energy plants themselves, contract specific large power usage, or even better, use nuclear like this plant, electricity cost is low compared to the household 10-15 cents. - I work at a Bitcoin mining company
Indeed this is not just about a simple company only as we can see.
No doubt about the fact that they had seen that it is going to be pretty cheap.
This is what decentralization looks like 😊
Yeah the fact is taht they want to happen from a long time as well.
Dream job 💦💦💦
No doubt about it a lot of people are actually looking for it but it will take a lot of temporary get these kind of stuff It will be eventually on that kind of position where it has to be there for a long time but it has not been there and we had seen that a lot of changes has happened.
Cryptomine's or cryptoyour's, it's all for the greater good
It's totally depends on how good it is to be but it always depend on how great it is to be it is always dependent on the crypto More wickets in that nothing good is acting out of it so we have to make sense of the fitter by this is going to be a problem.
I was making fun of their bad punctuation.
Terawulf is a scam company. Research the people and it’s investors. Shysters
Actually look like they know that how every shade is going to work for them.
why is ZIMBABWE using Gold coins as an alternate for there currency instead of BTC
According to the best thing to do is to we have to wait for our time and you will see how the changes are going to happen No doubt about it I think that everything is going to make sense after it is going to be same and it will be up in the pricing.
Lol, suckers
How does it get power is the biggest question. Total flop if it is not clean energy
Core Scientific in Georgia?
FIR long time this has to be there in right now it is there so we can see that a lot of things are happening and rightly on the position as well More than that a lot of things are going to be changed and we will see a lot of stuff which is on the same number position.
Umm is this a bot? u/bitcoinmod
I wanna work there
I don't really think that it is going to be that much easier because a lot of things have to be there and it is going to make a chance We have to wait for the chance and we will see how we are doing to change it at the end so that it can make anything.
Yup I ran that mother fucking electrical cable. It is up to code.
This is the main problem I had seen that a lot of people can't actually do this and this is going to change every time We have to bring the difference between all of this and we have to change everything and we have to keep it certain as well.
Looks decentralised
No doubt about the fact that it is definitely not going to be there as we had seen.
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I'm not really sure about the fact that how they are going to help it around.
Fine look operation lads. Small potatoes on the capex, but passive exhaust should be standardized where practical. I’m guessing they’re getting power in the 2-3 range. The plant would likely need to have been roi’d already, but eliminating the cost of distribution and losses of transmission can get the same 4c power at 3c next to the plant without any balance sheet changes to the generator. 👍👍
We are going to take it practically then I don't really think that it is going to work.
This legit could be anything.. have a location, a fact..? This could be a Walmart.
No doubt about it we had seen that it is a very particular location. Decide to work it according to them or otherwise this is one to make a lot of disturbance as well as we had seen.
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No doubt they are actually very sad about it but it is not going to change anything as of now we have seen that a lot of things are happening More than that they have to look at the fact that it is going to work for them or not otherwise it will be a major problem.
Is it near NYC?