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TeraWulf Picks up 1 GW Kentucky AI Data Center Site, Shares Jump 11%
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TeraWulf Inc. acquired a 1 GW AI-focused data center site in Kentucky, advancing its pivot toward high-performance computing infrastructure and sending shares up 11% on strong investor response.
Key facts
- WULF shares rose as much as 13.6% in early New York trading Tuesday before settling to an 11% gain, reaching nearly $26 per share, their highest level in roughly three weeks
- Shares of the CoinShares Bitcoin Mining ETF (WGMI), which holds TeraWulf as its third-largest position at 10.86%, rose 4.5%
- The new “Muskie Data Campus,” purchased from Industrial Equity Partners, sits within the 1,000-acre EastPark Industrial Park in northeastern Kentucky and encompasses roughly 285 acres of owned
- Kentucky Power, an AEP company, is constructing a 345 kilovolt substation connected to an existing 765 kV transmission network to serve the campus
Summary
TeraWulf Inc. (Nasdaq: WULF) announced Tuesday the acquisition of a hyperscale data center development site in eastern Kentucky, a move that sent shares climbing 14% at times today as investors responded to the company’s deepening push into artificial intelligence and high-performance computing infrastructure. The new “Muskie Data Campus,” purchased from Industrial Equity Partners, sits within the 1,000-acre EastPark Industrial Park in northeastern Kentucky and encompasses roughly 285 acres of owned and controlled land. The site is expected to support more than 1 gigawatt of AI and HPC capacity, enough to power approximately 750,000 homes. Kentucky Power, an AEP company, is constructing a 345 kilovolt substation connected to an existing 765 kV transmission network to serve the campus.