TeraWulf Surges 13% on Kentucky AI Data Center Expansion

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2026-05-27 04:32:02

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TeraWulf (WULF) shares jumped 13% after announcing the Muskie Data Campus, a 1-gigawatt AI and high-performance computing site in eastern Kentucky. The 285-acre development will deliver 500 MW by late 2028, with a second phase targeting another 500 MW by 2030.

The company’s Q1 revenue reached $34 million, marking a pivot as HPC leasing ($21 million) now eclipses Bitcoin mining ($13 million). Peer miners rallied in sympathy: Hut 8 (HUT) +7%, Keel Infrastructure (KEEL) +6.5%, IREN (IREN) +5%.

Kentucky Power, an American Electric Power subsidiary, is handling infrastructure build-out for the project, which expands TeraWulf’s total footprint to over 2.8 GW across two state projects.

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