Overview
- TeraWulf closed the membership interest purchase for the Muskie Data Campus effective May 22 and publicly announced the acquisition on May 26, a disclosure that sent the stock up about 11–13 percent.
- The site covers roughly 285 acres inside the 1,000-acre EastPark Industrial Park and is planned to support over 1 gigawatt of data center capacity delivered in two phases of 500 megawatts each with targets of the second half of 2028 and the second half of 2030.
- Kentucky Power, an AEP company, is building a 345 kV substation tied into an existing 765 kV transmission network and TeraWulf says transmission and energy service agreements were executed with the acquisition to provide redundant, utility-scale power.
- The purchase expands TeraWulf’s development pipeline to about 2.8 gigawatts across its campuses and reflects a deliberate shift from bitcoin mining toward multi-year HPC hosting contracts that already accounted for a majority of Q1 2026 leasing revenue.
- The company and local officials point to construction jobs and workforce programs, but the plan still depends on securing anchor customers, completing multi-year power projects on schedule, and arranging the needed financing to deliver the 2028 and 2030 build targets.