Bitcoin miner and data center operator TeraWulf announced Tuesday the acquisition of a development site in eastern Kentucky, dubbed the 'Muskie Data Campus,' which can ultimately support over 1 gigawatt of AI and high-performance computing capacity. The site, acquired from Industrial Equity Partners, spans about 285 acres within the 1,000-acre EastPark Industrial Park, with optional adjacent land for future expansion. TeraWulf plans to bring the first 500 MW online in the second half of 2028 and an additional 500 MW by 2030. A 345 kV substation is being constructed by Kentucky Power to serve the campus. This acquisition underscores the critical role of power availability in the AI infrastructure race, as electricity has become the primary bottleneck beyond hardware. TeraWulf's stock rose about 9% on the day, reaching a 12-month high. The company has pivoted to AI computing, which outpaced Bitcoin mining revenue in Q1, though it reported a $427 million net loss for the period. This is TeraWulf's second major digital infrastructure site in Kentucky.

Key facts

• TeraWulf acquired a 285-acre site in Kentucky for a 1 GW AI data center campus.
• First 500 MW expected in H2 2028; additional 500 MW by 2030.
• Power infrastructure is the key constraint; Kentucky Power building a 345 kV substation.
• Stock surged 9% to a 12-month high of $25.92 on announcement.
• This is TeraWulf's second major digital infrastructure site in Kentucky.

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