TeraWulf (WULF) completed the sale of its 25% stake in the Nautilus Cryptomine joint venture to its partner, a unit of Talen Energy (TLN), for $92 million in cash and equipment.
The deal comprises $85 million in cash and 30,000 miners and related equipment valued at $7 million, TeraWulf said Thursday in a statement.
The company plans to reinvest the capital into the construction of its CB-1 facility at Lake Mariner in western New York, which will be used for data center hosting for
high-performance computing and artificial intelligence.
TeraWulf also plans to complete construction of a mining building and improve the efficiency of its mining fleet.
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