Following the Elon energy concerns and China crackdown, BTC mining has more or less completely migrated out of China to the US. Additionally, there has been a big push for mining BTC with renewable energy. A company called TeraWulf just launched $WULF on Tuesday.

Their angle is that they are only using zero-carbon energy sources and one of the first to use NUCLEAR energy at an industrial scale. You may say that this is a waste of renewable energy sources, but please look up the stats on stranded renewable energy, a SIGNIFICANT portion of all renewable energy generated is wasted in the U.S because of supply and demand mismatches.

There is some FUD floating around that the stock price crashed on its debut. But remember, this WAS NOT an IPO, it was a reverse merger between TeraWulf Inc. and Ikonics Corp. So WULF's first-day % Price Change was based on IKNX's last-day trading price even though WULF is effectively a completely new company with new management, shareholders, etc. Float increased by ~52x and the market cap went up from $30mm to just under $2bn, putting it within range of RIOT and MARA. Lots of brokerages aren't reflecting this data accurately yet

TeraWulf is really an execution story at this point. They have raised $200mm in capital from investors, have 60,000 latest generation miners on order, and two massive hydro and nuclear sites secured with development in progress. Their leadership has 30+ years of developing energy infrastructure sites around the world and if you understand bitcoin mining, it's all about energy infrastructure.

Pretty bullish on bitcoin mining stocks in general given that the largest guys can mine bitcoin for less than $7,000 (crazy margins). but the zero-carbon angle from TeraWulf makes it a hidden gem right now imo.

submitted by /u/bullbtcmining
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Source and link to Reddit topic: Nuclear Bitcoin Mining

Author: Reddit.com