TeraWulf Rallies After Acquiring 1 GW 'Muskie' AI Data Campus In Kentucky — Its Second In The State

• TeraWulf shares rallied more than 12% after the company acquired the 1 GW “Muskie Data Campus” in Kentucky.
• The AI and HPC-focused site is expected to support 500 MW by 2028, with another 500 MW planned by 2030.
• CEO Paul Prager said power infrastructure and transmission access, not computing hardware, are now the biggest constraints in AI markets.

TeraWulf Inc’s (WULF) stock rose more than 12% on Tuesday after the company acquired a high-performance computing (HPC) site in Kentucky, designed to support more than 1 gigawatt (GW) of future capacity.

The HPC infrastructure company, which has been moving away from Bitcoin (BTC) mining, announced the acquisition of the “Muskie Data Campus” in Kentucky, which is located within the 1,000-acre EastPark Industrial Park and includes roughly 285 acres of owned and controlled land designed for hyperscale artificial intelligence (AI) and HPC operations. 

The project is expected to initially support 500 megawatts (MW) of capacity by the second half of 2028, with another 500 MW targeted for the second half of 2030. TeraWulf added that Kentucky Power, a subsidiary of American Electric Power (AEP), was building a dedicated 345-kilovolt (kV) substation connected to the existing 765-kV transmission network to support the campus.

The company also said the site was already zoned for intended use, with permitting activities underway and limited additional site work required before construction could begin, potentially allowing for a faster path to power than competing AI infrastructure projects.

CEO Paul Prager said the biggest bottleneck in the market was no longer computing hardware itself but access to power infrastructure and certainty of execution. He added that the Muskie Data Campus combined scalable power infrastructure and development readiness in a way that was becoming increasingly difficult to replicate across the industry.

Wulf’s stock was trading at $25 in early-morning trading. On Stocktwits, it was one of the top trending tickers. Retail sentiment around WULF improved to ‘bullish’ from the ‘neutral’ zone, while chatter stayed at ‘low’ levels over the past day. 

Kentucky Grows As AI Infrastructure Hub

This marks WULF's second data center acquisition in Kentucky. The company already operates the 480 MW Justified Data Campus in Hancock County. 

According to the data center map, the state has emerged as an attractive AI infrastructure destination and currently hosts around 40 data centers for companies such as Core Scientific(CORZ) and Power House. 

How Did Retail React?

https://www.stocktwits.com/spcemasterjedi0101/message/654362866 

Retail sentiment around WULF is running hot this morning, with traders on social media praising management’s execution and drawing favorable comparisons to peers including Riot Platforms (RIOT), Galaxy Digital (GLXY), and Keel Infrastructure (KEEL). 

One user lamented missing the move, calling TeraWulf’s management team one that ‘can execute’ — a pointed dig at competitors seen as underdelivering. 

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