Terawulf, a bitcoin mining company, announced that it has launched the first bitcoin mining installation powered by nuclear energy at Nautilus in Pennsylvania. According to the company, approximately 1 exahash per second (EH/s) or around 8,000 bitcoin miners with integrated circuits are currently connected to the network, and another 8,000 mining facilities will be delivered soon.
According to the company's press release about the Nautilus energization, Terawulf will receive a fixed electricity tariff of about $0.02 per kilowatt-hour (kWh) for the next five years.
The Nautilus facility is considered a milestone as it is the first bitcoin mining enterprise of its kind to receive 24/7 carbon-free energy from the 2.5 GW Susquehanna nuclear power plant in Pennsylvania.
Seven days ago, Mawson Infrastructure Group launched a mining company in Pennsylvania after exiting Australia. In addition to the 50 MW Nautilus facility, Terawulf announced the expansion of operations at its Lake Mariner facility in New York. This move will increase Lake Mariner's capacity from 60 MW to 110 MW.
We are witnessing the ultimate centralization of mining in the US, which has already captured the lion's share of the world's hash rate! The problem here is not only that the main mining pools are located in one country. A couple of years ago, the lion's share of mining pools were in China.
The problem is that there are no pools in the US at all!!!
Previously, the dominance of Chinese pools in the bitcoin network was the most concerning issue, but most Chinese pools could be joined by miners from anywhere in the world. Only one was exclusively Chinese. All others were open to miners from any country. Now, in the US, a mega concentration of miners is taking place at individual companies, with no possibility for third-party players to connect to their pools.
Moreover, the collusion of large energy companies and nuclear power plants, which belong to the investment unit of Goldman Sachs Bank, raises suspicions that the most active bank in the cryptocurrency sphere wants to concentrate almost all bitcoin mining in its hands.
For example, the CSO of the largest nuclear miner in the USA, became a certain Kerri Langlais, and the company easily attracted funding for the purchase of these 8000 miners. Interestingly enough, Kerri had worked for the past 10 years where you might think? You'll never guess: in the Investment Banking Division at Goldman Sachs.
What's also interesting is that the second centralized mining company to announce the use of nuclear energy for bitcoin mining, Mawson Infrastructure Group, has another excellent American bank among its shareholders, Morgan Stanley, which has shown interest in bitcoin projects by chance.
In general, Satoshi Nakamoto's ingenious decentralized project Bitcoin is becoming more and more centralized, both in terms of the owners of large wallets and bitcoin sums, and in terms of the capture of mining power. These worthy people, who have a strong interest in the asset, are major global banks - shareholders of the Federal Reserve System.
And it is these people who prohibit us from picking our nose owning cryptocurrency.