TeraWulf Acquires Muskie Data Campus for 1 GW Capacity Expansion

TeraWulf (NASDAQ: WULF) has announced the acquisition of the Muskie Data Campus in eastern Kentucky, aiming to support over 1 GW of data center capacity. According to ChainCatcher, the first phase of 500 MW is expected to be delivered in the second half of 2028, with the second phase of 500 MW targeted for completion in the second half of 2030. The site, acquired from Industrial Equity Partners, spans approximately 285 acres within a 1,000-acre industrial park in eastern Kentucky. Kentucky Power Company, a subsidiary of AEP, has commenced the construction of a 345 kV substation to connect to the 765 kV transmission network, with transmission infrastructure and energy service agreements already signed. TeraWulf stated that the project has completed zoning planning, and permitting work is underway, with limited initial site preparation required. Following this acquisition, TeraWulf's presence in Kentucky will expand to two major digital infrastructure projects, with a total platform capacity exceeding 2.8 GW. The company's first-quarter revenue was $34 million, with $21 million generated from HPC leasing.