Bitcoin miner TeraWulf’s shares surge 15% after infrastructure acquisitions
TeraWulf's shares rose after the bitcoin miner announced the acquisition of two new brownfield infrastructure sites.Summary
Bitcoin miner TeraWulf's shares surged on Tuesday following the announcement of two key acquisitions made on Monday after market close. TeraWulf acquired brownfield infrastructure sites in both Kentucky and Maryland, which collectively add approximately 1.5 gigawatts (GW) of capacity to its portfolio. The Kentucky site offers over 250 buildable acres, while the Maryland site has about 480 MW of power availability with expansion potential. CEO Paul Prager stated these acquisitions support the company's strategy of reinvesting in energy infrastructure for grid reliability and responsible growth, emphasizing the importance of regional diversity. This move follows TeraWulf's previous plan to raise $900 million to fund a pivot toward building artificial intelligence data facilities.
(Source：The Block)