TeraWulf Inc. (Nasdaq: WULF) introduced Tuesday the acquisition of a hyperscale information heart improvement web site in jap Kentucky, a transfer that despatched shares climbing 14% at instances at the moment as traders responded to the corporate’s deepening push into synthetic intelligence and high-performance computing infrastructure.
The brand new “Muskie Data Campus,” bought from Industrial Fairness Companions, sits inside the 1,000-acre EastPark Industrial Park in northeastern Kentucky and encompasses roughly 285 acres of owned and managed land.
The positioning is predicted to assist greater than 1 gigawatt of AI and HPC capability — sufficient to energy roughly 750,000 properties. The primary 500 megawatts is focused to return on-line within the second half of 2028, with a further 500 megawatts set for supply by the second half of 2030.
Kentucky Energy, an AEP firm, is developing a 345 kilovolt substation related to an present 765 kV transmission community to serve the campus. Transmission infrastructure and power service agreements have been executed at closing, establishing what TeraWulf described as a transparent pathway to long-term, large-scale energy supply. The positioning is zoned for its meant use, with allowing underway.
“The defining constraint in this market is no longer computing hardware — it is power, transmission infrastructure, and execution certainty,” mentioned Paul Prager, TeraWulf’s Chairman and CEO. “Muskie combines scalable power, robust transmission infrastructure, development readiness, and strategic regional positioning in a way that is difficult to replicate.”
The acquisition marks TeraWulf’s second main digital infrastructure campus in Kentucky, becoming a member of its 480-megawatt Justified Data campus in Hancock County. The corporate payments itself as a “power infrastructure company that builds digital infrastructure” — a distinction Prager mentioned underlies TeraWulf’s capability to safe websites like Muskie forward of rivals.
TeraWulf’s AI compute is thrashing out Bitcoin mining income
The deal arrives as TeraWulf’s HPC-related income surged 117% in the latest quarter, pushed by its Western New York Lake Mariner facility, one among North America’s largest HPC campuses. AI compute income outpaced Bitcoin mining income for the primary time in Q1, although the corporate posted a $427 million internet loss as infrastructure funding spending climbs.
A $3 billion financing bundle organized by way of Morgan Stanley — with Google backstopping the debt — is funding the information heart enlargement technique introduced final September.
WULF shares rose as a lot as 13.6% in early New York buying and selling Tuesday earlier than settling to an 11% acquire, reaching practically $26 per share, their highest stage in roughly three weeks. The inventory has greater than doubled since January 1, 2026. Shares of the CoinShares Bitcoin Mining ETF (WGMI) — which holds TeraWulf as its third-largest place at 10.86% — rose 4.5%.
TeraWulf joins a rising area of Bitcoin miners, together with Hut 8, HIVE Digital, MARA Holdings, and IREN, pivoting towards AI and HPC infrastructure as Bitcoin mining margins face stress.
The Muskie campus is predicted to generate building jobs, long-term expert employment, and tax income for northeastern Kentucky, with assist from the Governor’s workplace and native financial improvement authorities.
