04:44 PM EDT, 10/03/2024 (MT Newswires) -- 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 ( WULF ) 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 ( WULF ) also plans to complete construction of a mining building and improve the efficiency of its mining fleet.

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