TeraWulf Inc. (Nasdaq: WULF) introduced Tuesday the acquisition of a hyperscale knowledge heart growth web site in jap Kentucky, a transfer that despatched shares climbing 14% at instances at the moment as buyers responded to the corporate’s deepening push into synthetic intelligence and high-performance computing infrastructure.
The brand new “Muskie Information Campus,” bought from Industrial Fairness Companions, sits throughout the 1,000-acre EastPark Industrial Park in northeastern Kentucky and encompasses roughly 285 acres of owned and managed land.
The location is predicted to help 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 an extra 500 megawatts set for supply by the second half of 2030.
Kentucky Energy, an AEP firm, is setting up a 345 kilovolt substation related to an current 765 kV transmission community to serve the campus. Transmission infrastructure and vitality service agreements have been executed at closing, establishing what TeraWulf described as a transparent pathway to long-term, large-scale energy supply. The location is zoned for its meant use, with allowing underway.
“The defining constraint on this market is not computing {hardware} — it’s energy, transmission infrastructure, and execution certainty,” mentioned Paul Prager, TeraWulf’s Chairman and CEO. “Muskie combines scalable energy, strong transmission infrastructure, growth readiness, and strategic regional positioning in a method that’s troublesome to duplicate.”
The acquisition marks TeraWulf’s second main digital infrastructure campus in Kentucky, becoming a member of its 480-megawatt Justified Information campus in Hancock County. The corporate payments itself as a “energy infrastructure firm that builds digital infrastructure” — a distinction Prager mentioned underlies TeraWulf’s skill 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 newest quarter, pushed by its Western New York Lake Mariner facility, one in every of 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 web loss as infrastructure funding spending climbs.
A $3 billion financing package deal organized by Morgan Stanley — with Google backstopping the debt — is funding the info heart growth 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% achieve, reaching almost $26 per share, their highest degree 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 subject of Bitcoin miners, together with Hut 8, HIVE Digital, MARA Holdings, and IREN, pivoting towards AI and HPC infrastructure as Bitcoin mining margins face strain.
The Muskie campus is predicted to generate building jobs, long-term expert employment, and tax income for northeastern Kentucky, with help from the Governor’s workplace and native financial growth authorities.