TeraWulf Stock Pops as Bitcoin Miner Acquires Kentucky Site to Meet AI Power Demands
TeraWulf, a Bitcoin mining and data center operator, has acquired a large site in eastern Kentucky to develop one of the state’s largest AI data campuses, named the Muskie Data Campus. The 285-acre site, located within the 1,000-acre EastPark Industrial Park, is already zoned for the planned use and may expand on adjacent land. The campus will ultimately support over one gigawatt of data center capacity, enough to power approximately 750,000 homes. Kentucky Power is building a substation to connect the site to a major transmission network, with the first 500 megawatts of capacity expected in the second half of 2028 and another 500 megawatts by 2030. TeraWulf’s stock rose sharply after the announcement, with shares more than doubling in value so far this year. The project reflects a larger industry trend, with power availability becoming the main constraint for AI infrastructure expansion. This will be TeraWulf’s second major Kentucky site, and the firm recently saw its AI compute revenue surpass its Bitcoin mining revenue for the first time.
