By Chris Wack

TeraWulf shares were up 15% to $2.36 after the company said it mined 186 bitcoin in May, with an average production rate of six bitcoin per day.

Bitcoin was trading at $69,575 a unit at 10:42 a.m. ET, up 8.2% in the past month, and up 166% in the past 12 months.

The company self-mined 335 bitcoin in April.

The company said its power cost averaged $31,239 per bitcoin self-mined in May. TeraWulf's installed and operational self-mining capacity reached about 8.0 EH/s, representing an 82% year-over-year increase.

The company said Building 4 at its Lake Mariner complex is scheduled to be completed in June, and will house 10,000 of Bitmain's latest generations of S21 and S21 Pro miners.

Write to Chris Wack at

(END) Dow Jones Newswires

06-04-24 1117ET