Why Is TeraWulf Stock Rallying More Than 10% After Hours?

• In Kentucky, TeraWulf has acquired a former industrial site in Hawesville, which has approximately 480 MW of existing power availability.
• In Maryland, where TeraWulf is headquartered, the company has acquired the Morgantown Generating Station.
• This expanded development pipeline supports its growth strategy targeting 250 to 500 MW of new contracted capacity annually.

Shares of TeraWulf (WULF) surged more than 10% during extended hours of trading on Monday after the company announced that it is expanding its digital and power infrastructure portfolio. 

The company said it is expanding its portfolio through the acquisition of two strategically located brownfield infrastructure sites in Hawesville, Kentucky and Charles County, Maryland.

Details

TeraWulf said these acquisitions added about 1.5 gigawatts (GW) of capacity to its portfolio and advanced the company’s strategy of developing energy-advantaged locations with near-term power availability, long-term scalability, and the ability to support customer demand and broader grid needs.

In Kentucky, TeraWulf has acquired a former industrial site in Hawesville. The site includes more than 250 buildable acres for compute capacity and offers immediate access to robust power infrastructure, the statement said. 

The Hawesville site has approximately 480 megawatts (MW) of existing power availability, with the potential to further expand over time. Development is expected to occur in phases, allowing TeraWulf to scale efficiently alongside customer demand.

In Maryland, where TeraWulf is headquartered, it has acquired the Morgantown Generating Station. The acquisition establishes TeraWulf’s presence in the Pennsylvania-New Jersey-Maryland (PJM) market and reinforces the company’s strategy of reinvesting in existing energy assets to support grid reliability and long-term economic activity.

Portfolio Expansion

With the addition of these sites, TeraWulf’s infrastructure portfolio now totals approximately 2.8 GW across five sites, including 642.5 MW of contracted capacity and 2.2 GW of owned pipeline capacity.

This expanded development pipeline supports its growth strategy targeting 250 to 500 MW of new contracted capacity annually, aligned with customer demand, power availability, and regional grid conditions.

“These acquisitions reflect our strategy of reinvesting in existing energy infrastructure to support grid reliability, long-term economic activity, and responsible growth,” said Paul Prager, Chairman and Chief Executive Officer of TeraWulf.

How Did Stocktwits Users React?

Retail sentiment around WULF trended in ‘extremely bullish’ territory amid ‘high’ message volume. 

One bullish user said that “2 additional site announcement today DOUBLES the AI/HPC capacity”. 

Shares in the company have jumped more than 200% over the past 12 months. 

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