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TeraWulf acquires land for a 1GW AI data center in Kentucky, stock price rises about 8% before market open
Deep Tide TechFlow News, May 26 — According to TheEnergyMag, TeraWulf (NASDAQ: WULF) announced the acquisition of the Muskie Data Campus located in eastern Kentucky, which is expected to support over 1GW of data center capacity. The first phase of 500MW is scheduled to begin delivery in the second half of 2028, and the second phase of 500MW aims to be completed by the second half of 2030. The site was acquired from Industrial Equity Partners, covering approximately 285 acres, located within the 1,000-acre industrial park in eastern Kentucky.
Kentucky Power Company (a subsidiary of AEP) has initiated the construction of a 345kV substation, connecting to the 765kV transmission network, with transmission infrastructure and energy service agreements signed concurrently. TeraWulf stated that the project has completed zoning planning, permitting work is underway, and initial site preparation work is limited. After this acquisition is completed, TeraWulf's layout in Kentucky will expand to two major digital infrastructure projects, with an overall platform capacity exceeding 2.8GW. The company's first-quarter revenue was $34 million, including $21 million from HPC leasing.