Talen Energy Corp. (TLN) announced on Thursday that it has completed the acquisition of TeraWulf Inc.'s 25% interest in Nautilus Cryptomine. The transaction was valued at $85 million in cash, alongside the inclusion of certain physical assets integral to the bitcoin mining operations.
With the finalization of this deal, Talen Energy now fully owns the 200-megawatt bitcoin mining facility located in Berwick.
Cole Muller, the Executive Vice President of Strategic Ventures, commented, "This acquisition enables Talen to redefine the terms of an existing below-market power purchase agreement, enhancing our strategic flexibility as we seek the best methods to optimize the value per megawatt from our Susquehanna nuclear generation facility."
