Talen Energy Acquires TeraWulf's Minority Stake In Nautilus Cryptomine

(RTTNews) - Talen Energy Corp. (TLN), Thursday announced the acquisition of TeraWulf Inc.'s 25 percent stake in Nautilus Cryptomine for a total consideration of $85 million cash along with select physical assets used in the bitcoin mining operation.

Following the transaction, Talen now fully owns the 200-megawatt bitcoin mining facility in Berwick.

Cole Muller, Executive Vice President -Strategic Ventures, said, "The transaction allows Talen the ability to reset a legacy below-market power purchase agreement and provides us with increased flexibility as we explore strategic alternatives in order to maximize the value per megawatt for our Susquehanna nuclear generation facility."