TeraWulf Inc. (Nasdaq: WULF) introduced Tuesday the acquisition of a hyperscale knowledge heart improvement 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 throughout 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 assist greater than 1 gigawatt of AI and HPC capability — sufficient to energy roughly 750,000 properties. 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 setting up a 345 kilovolt substation related to an current 765 kV transmission community to serve the campus. Transmission infrastructure and power service agreements have 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, improvement readiness, and strategic regional positioning in a manner that’s troublesome to copy.”
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 capacity 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, certainly one of 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 internet loss as infrastructure funding spending climbs.
A $3 billion financing package deal organized via Morgan Stanley — with Google backstopping the debt — is funding the info heart 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% achieve, reaching practically $26 per share, their highest stage 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 area of Bitcoin miners, together with Hut 8, HIVE Digital, MARA Holdings, and IREN, pivoting towards AI and HPC infrastructure as Bitcoin mining margins face stress.
The Muskie campus is anticipated to generate development jobs, long-term expert employment, and tax income for northeastern Kentucky, with assist from the Governor’s workplace and native financial improvement authorities.