TeraWulf Acquires 1GW Kentucky Site for AI Data Center Campus
TeraWulf announced the acquisition of the Muskie Data Campus in eastern Kentucky, a 285-acre site within EastPark Industrial Park capable of supporting over one gigawatt of data center capacity. The first 500 MW is expected to ramp in late 2028, with an additional 500 MW by 2030. Kentucky Power is building a 345 kV substation to support the project. Shares rose over 11% following the news, reflecting strong investor confidence in AI infrastructure demand.
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KBW: TeraWulf's Kentucky Campus Acquisition Boosts 2027 AI Lease Outlook
Investment bank KBW reiterated its 'Outperform' rating and $33 price target on TeraWulf (WULF) after the company acquired the Muskie Data Campus, a 285-acre greenfield site in Eastern Kentucky. The site is designed to support roughly 1 GW of gross power capacity (800 MW net) and is part of a phased buildout, with the first 500 MW expected to begin ramping in the second half of 2028 and another 500 MW targeted for the second half of 2030. KBW analyst Stephen Glagola said the acquisition reinforces TeraWulf's utility partnership strategy, lowers power delivery risk, and supports potential AI lease signings in 2027. Kentucky Power, an AEP subsidiary, is constructing a 345 kV substation connected to the existing 765 kV transmission network. CEO Paul Prager emphasized that power and transmission infrastructure, not computing hardware, are the defining constraints in the market. Financial terms were not disclosed, but KBW noted the deal structure involves TeraWulf assuming financial obligations to secure the power position.
Yahoo FinanceTeraWulf Stock Surges Over 10% on Acquisition of Hyperscale Data Center Site
TeraWulf (NASDAQ: WULF) saw its stock price jump more than 10% on Tuesday after announcing the acquisition of the Muskie Data Campus, a hyperscale high-performance computing (HPC) development site in Kentucky. The 285-acre property, located within the EastPark Industrial Park, is capable of supporting over 1 gigawatt of data center capacity, with an initial 500 megawatts expected to be delivered in the second half of 2028 and the remainder by 2030. The acquisition includes pre-signed utility agreements and will be powered by a 345 kV substation connected to an existing 765 kV transmission grid, currently under construction by Kentucky Power. The purchase price was not disclosed. The move aligns with TeraWulf's strategic shift from a pure-play Bitcoin miner toward data center operations focused on artificial intelligence and HPC workloads.
Yahoo FinanceGoogle-backed TeraWulf stock jumps after acquisition of Kentucky AI data center campus
Shares of TeraWulf (WULF) surged up to 13% on May 26, 2026, after the Bitcoin miner-turned-AI infrastructure company announced the acquisition of the Muskie Data Campus in Eastern Kentucky. The hyperscale HPC development site, purchased from Industrial Equity Partners, is expected to support over 1 gigawatt of data center capacity, with initial 500 MW targeted for delivery in H2 2028 and another 500 MW in H2 2030. TeraWulf has been pivoting from Bitcoin mining to AI infrastructure, backed by Alphabet's Google, which holds an 8% stake and increased its equity position to approximately $3.2 billion. The company reported Q1 2026 revenue of $34 million but a net loss widened to $427 million due to transition costs. The stock touched a fresh 52-week high of $25.78 before settling around $24.86.
Yahoo FinanceTeraWulf Stock Rises as Bitcoin Miner Acquires Kentucky Site for AI Data Center
TeraWulf, a Maryland-based Bitcoin mining and data center firm, announced on Tuesday the acquisition of a 285-acre development site in eastern Kentucky to build the 'Muskie Data Campus,' one of the largest AI data centers in the state. The site, acquired from Industrial Equity Partners, is expected to support over one gigawatt of data center capacity, with the first 500 megawatts coming online in the second half of 2028 and an additional 500 megawatts targeted for 2030. Kentucky Power is constructing a 345 kV substation to serve the campus. TeraWulf's stock rose 9% to $24.78 following the announcement, reaching a 12-month high. The move reflects the growing demand for power infrastructure to support AI computing, as TeraWulf's AI compute revenue surpassed its Bitcoin mining revenue for the first time in Q1, despite a $427 million net loss. The company also operates a 480-megawatt data campus in Hancock County, Kentucky.
Yahoo FinanceTeraWulf jumps 11% as data center firm announces 1 GW Kentucky campus
TeraWulf Inc. (NASDAQ: WULF) announced on May 26, 2026, the acquisition of a hyperscale high-performance computing development site in Eastern Kentucky, named the 'Muskie Data Campus,' capable of supporting over 1 gigawatt of data center capacity. The first 500 MW is expected to begin ramping in the second half of 2028, with an additional 500 MW targeted for the second half of 2030. Shares jumped over 11% in early trading, breaking above $25, and are up over 120% year-to-date. The transaction, structured as a membership interest purchase agreement with seller Industrial Equity Partners, closed on May 22. Power infrastructure is central to the deal, with Kentucky Power constructing a 345 kV substation connected to the existing 765 kV transmission network. The campus sits on approximately 285 acres within the EastPark Industrial Park. This is TeraWulf's second major digital infrastructure campus in Kentucky, joining the 480 MW Justified Data campus.
Yahoo FinanceTeraWulf jumps 11% as data center firm announces 1 GW Kentucky campus
TeraWulf Inc. (NASDAQ: WULF) announced on May 26, 2026, the acquisition of a hyperscale high-performance computing development site in Eastern Kentucky, named the 'Muskie Data Campus,' capable of supporting over 1 gigawatt of data center capacity. The first 500 MW is expected to begin ramping in the second half of 2028, with an additional 500 MW targeted for the second half of 2030. Shares jumped over 11% in early trading, breaking above $25, and are up over 120% year-to-date. The transaction closed on May 22 via a membership interest purchase agreement with Industrial Equity Partners. Power infrastructure is central to the deal, with Kentucky Power constructing a 345 kV substation connected to the existing 765 kV transmission network. The campus sits on approximately 285 acres within the 1,000-acre EastPark Industrial Park. This is TeraWulf's second major digital infrastructure campus in Kentucky, joining the 480 MW Justified Data campus in Hancock County.
Yahoo FinanceTeraWulf shares rise after securing 1GW-plus Kentucky data campus project
Shares of TeraWulf (NASDAQ:WULF) rose 4.7% in premarket trading after the company announced the acquisition of a hyperscale high-performance computing development site in eastern Kentucky. The site, named the Muskie Data Campus, is expected to support over one gigawatt of data center capacity. The initial 500 megawatts are expected to begin ramping in the second half of 2028, with an additional 500 megawatts targeted for delivery by the second half of 2030. Located within the 1,000-acre EastPark Industrial Park, the campus includes approximately 285 acres of owned and controlled land. Kentucky Power is constructing a 345-kilovolt substation to support the project. TeraWulf CEO Paul Prager stated the acquisition reinforces the company's strategy of securing large-scale, power-advantaged sites for next-generation HPC workloads. The site is already zoned for development, and this is TeraWulf's second major digital infrastructure project in Kentucky.
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