Shares of TeraWulf (NASDAQ: $WULF) are up 10% after the company announced plans for a large-scale artificial intelligence (A.I.) and high-performance computing (HPC) data centre campus in Kentucky.
The company said it has acquired a development site capable of supporting more than one gigawatt of A.I. and HPC infrastructure.
Called the “Muskie Data Campus,” the Kentucky facility is expected to deliver an initial 500 megawatts of power in the second half of 2028, with another 500 megawatts added by 2030.
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TeraWulf said the Kentucky project furthers its push into electricity and transmission infrastructure that is at the heart of the A.I. boom.
The company is one of several Bitcoin (CRYPTO: $BTC) miners that have shifted to A.I. data centre operators as crypto prices slump.
The A.I. data centre sector is one of the hottest parts of the stock market as investors bet that the massive power needs of A.I. models will lead to lucrative long-term businesses for the likes of TeraWulf.
WULF stock has risen an astounding 536% over the past 12 months to trade at $25.05 U.S. per share.