TeraWulf jumps 11% after buying power-rich Kentucky and Maryland sites
TeraWulf's stock rose 11% after acquiring two power-heavy industrial sites in Kentucky and Maryland, boosting its capacity to 2.8 GW.Summary
TeraWulf (WULF) experienced an 11% pre-market jump following the announcement that it acquired two significant, power-rich industrial sites in Hawesville, Kentucky, and Morgantown, Maryland. These acquisitions more than double the company's energy and computing footprint, bringing its total capacity to 2.8 gigawatts (GW), with the new sites adding 1.5 GW.
The Kentucky site offers immediate access to 480 megawatts (MW) and significant acreage, positioning TeraWulf near major Midwest markets for rapid deployment. The Maryland acquisition is the Morgantown Generating Station, a 210 MW facility with expansion potential up to 1 GW, which is already supplying power to the grid.
This expansion aligns with the growing trend of crypto miners positioning themselves as key infrastructure partners for the artificial intelligence (AI) boom, as AI companies require substantial data center space and massive electricity consumption. TeraWulf aims to pair future computing activities with added power generation to maintain a net-positive impact on the grid and is targeting 250 to 500 MW of new contracted capacity annually.
(Source：CoinDesk)