TeraWulf Acquires 1 GW AI Data Center Site in Kentucky; Stock Rises ~8% Pre-Market

According to TheEnergyMag, TeraWulf (NASDAQ: WULF) announced the acquisition of the Muskie Data Campus in eastern Kentucky, which is expected to support over 1 GW of data center capacity. The first phase—500 MW—is scheduled to begin delivery in the second half of 2028, while the second phase—another 500 MW—is targeted for completion in the second half of 2030. The site was acquired from Industrial Equity Partners and spans approximately 285 acres within a 1,000-acre industrial park in eastern Kentucky. American Electric Power (AEP), the local utility, has commenced construction of a 345-kV substation connected to the 765-kV transmission grid; transmission infrastructure and energy services agreements have also been signed concurrently. TeraWulf stated that zoning approval for the project has been secured, permitting activities are underway, and preliminary site preparation work is minimal. Following this acquisition, TeraWulf’s footprint in Kentucky will expand to two digital infrastructure projects, with an aggregate platform capacity exceeding 2.8 GW. The company reported $34 million in Q1 revenue, including $21 million from HPC leasing income.