TeraWulf Inc. (Nasdaq: WULF) announced Tuesday the acquisition of a hyperscale information middle growth website in japanese Kentucky, a transfer that despatched shares climbing 14% at instances immediately as traders responded to the corporate’s deepening push into synthetic intelligence and high-performance computing infrastructure.
The brand new “Muskie Knowledge 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 anticipated to help greater than 1 gigawatt of AI and HPC capability — sufficient to energy roughly 750,000 houses. The primary 500 megawatts is focused to come back 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 constructing a 345 kilovolt substation linked to an present 765 kV transmission community to serve the campus. Transmission infrastructure and vitality service agreements had 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 supposed 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 tough to duplicate.”
The acquisition marks TeraWulf’s second main digital infrastructure campus in Kentucky, becoming a member of its 480-megawatt Justified Knowledge campus in Hancock County. The corporate payments itself as a “energy infrastructure firm that builds digital infrastructure” — a distinction Prager mentioned underlies TeraWulf’s potential 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 all 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 means of Morgan Stanley — with Google backstopping the debt — is funding the information middle 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 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 pressure.
The Muskie campus is anticipated 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.
