TeraWulf Inc. (NASDAQ: WULF) announced on May 26 that it acquired a hyperscale high-performance computing development site in Eastern Kentucky capable of supporting more than 1 gigawatt of data center capacity.
The company is calling the site the “Muskie Data Campus” and expects the first 500 MW to begin ramping in the second half of 2028, with an additional 500 MW targeted for the second half of 2030
Shares of WULF jumped over 11% in early morning trading hours on the day, breaking above $25. WULF is up over 120% year-to-date, per Yahoo Finance. The transaction, structured as a membership interest purchase agreement with seller Industrial Equity Partners, closed effective May 22, according to TeraWulf’s Form 8-K filed with the SEC.
No purchase price was disclosed. The filing said no third-party consents or regulatory approvals were required. Power and transmission Power infrastructure is central to the deal.