Data Center · Bitcoin · New York · Cointelegraph
TeraWulf picks up Kentucky AI data center site with readied 1 GW capacity
Compiled by KHAO Editorial — aggregated from 4 sources. See llms.txt for citation guidance.
✓ KHAO Verified
WULF shares surged on Tuesday after the Bitcoin miner announced its latest move to expand into AI and HPC through a multi-phase buildout through 2030.
Key facts
- The stock rose as much as 13.6% in early New York trading, climbing to nearly $26 per share, its highest level in almost three weeks
- Its AI strategy is backed by a $3 billion financing deal arranged through Morgan Stanley and announced last September to support data center expansion
- The acquisition comes as TeraWulf’s HPC-related revenue jumped 117% in the most recent quarter, driven largely by its Western New York Lake Mariner facility, one of North America’s largest HPC
- Shares of industry tracker CoinShares Bitcoin Mining ETF (WGMI) were up 4.5% at last look
Summary
Bitcoin miner TeraWulf has acquired a large data center development site in the US state of Kentucky, adding significant capacity to its artificial intelligence and high-performance computing (HPC) business as miners continue diversifying beyond Bitcoin. TeraWulf said Tuesday the site could eventually support more than 1 gigawatt of AI and HPC capacity. The site includes planned grid infrastructure and long-term power agreements, underscoring TeraWulf’s ongoing shift toward AI and HPC hosting alongside its traditional Bitcoin mining operations. The acquisition comes as TeraWulf’s HPC-related revenue jumped 117% in the most recent quarter, driven largely by its Western New York Lake Mariner facility, one of North America’s largest HPC campuses.