TeraWulf Stock Pops as Bitcoin Miner Picks up Kentucky Site to Meet AI Power Demands
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TeraWulf, a Maryland-based Bitcoin mining firm and data center operator, announced Tuesday that it has acquired a sprawling development site in eastern Kentucky it plans to build into one of the largest artificial intelligence data campuses in the state—a move that underscores how the race to power AI is reshaping industrial land use across the American heartland.
Key facts
- WULF shares rose as high as $25.92 earlier Tuesday, marking its highest price in the last 12 months, per Yahoo Finance
- TeraWulf’s stock popped Tuesday following the morning announcement, with shares currently up about 9% on the day at a recent price of $24.78
- Kentucky Power is constructing a 345 kilovolt substation tied to an existing 765 kV transmission network to serve the campus
- The Muskie campus is TeraWulf's second major digital infrastructure site in Kentucky, joining its 480-megawatt Justified Data campus in Hancock County
Summary
TeraWulf acquired an eastern Kentucky site capable of supporting more than 1 gigawatt of AI and high-performance computing data center capacity. The first 500 MW is set to come online in 2028 with another 500 MW planned by 2030. The acquisition reflects TeraWulf's broader strategy of securing large, power-advantaged sites as electricity becomes the key constraint in the AI infrastructure race. The new "Muskie Data Campus," acquired from Industrial Equity Partners, is expected to ultimately support more than one gigawatt of data center capacity.