TeraWulf buys 285‑acre Kentucky AI data center shares up 13%

Shares of TeraWulf surged Tuesday following the company's announcement that it has acquired a major development site in eastern Kentucky for a new artificial intelligence and high-performance computing data center campus. The stock rose approximately 13 percent, reaching its highest price in recent weeks as investors reacted to the scale of the strategic expansion.

The company, historically a Bitcoin mining operation, acquired the "Muskie Data Campus" from Industrial Equity Partners. The site encompasses approximately 285 acres within the 1,000-acre EastPark Industrial Park and is planned to support more than one gigawatt of total data center capacity. The first phase of 500 megawatts is scheduled to become operational in the second half of 2028, with an additional 500 megawatts targeted for the second half of 2030.

Company officials stated that zoning and permitting for the intended use are already secured, and preliminary site work has begun. Kentucky Power, a subsidiary of American Electric Power, is constructing a 345-kilovolt substation to connect the campus to an existing 765-kilovolt transmission network. TeraWulf Chairman and CEO Paul Prager emphasized in a statement...