TeraWulf has announced the acquisition of land in Kentucky, where it plans to build a state-of-the-art data processing center with a capacity of up to 1 GW. The facility, named Muskie Data Campus, will be located in the EastPark industrial park, near the cities of Ashland and Grayson, covering an area of approximately 285 acres.
This is reported by Finway
Data Center Capacity and Strategic Advantages
The commissioning of Muskie Data Campus is scheduled for 2030. The first phase involves launching 500 MW in the second half of 2028, with the total capacity of the center expected to reach 1 GW in the future. An important advantage of the project is the construction of a new substation by Kentucky Power under a separate agreement with the miner. This will ensure a stable power supply for the operation of the data center and further expansion of the site, as stipulated in the purchase agreement.
“Muskie Data Campus further expands our portfolio of multi-faceted site development projects and strengthens our ability to serve large clients in the fields of artificial intelligence and high-performance computing across various regions and energy markets,” said Paul Prager, Chairman and CEO of TeraWulf.
Transformation of the Mining Industry and Market Reaction
In recent years, TeraWulf, like many other companies in the bitcoin mining sector, has shifted its primary focus. Instead of mining cryptocurrencies, the company has concentrated on providing infrastructure for companies engaged in artificial intelligence and high-performance computing. For example, Riot Platforms has also reduced its bitcoin portfolio to acquire land in Texas for the launch of a new data center.
However, the construction of new data processing centers is not always positively received by local residents. Some communities oppose it due to noise pollution and vibrations caused by cooling systems.
Despite this, the market reacted positively to the news of the launch of Muskie Data Campus. TeraWulf’s stock price on the Nasdaq rose from $22 to $25.7, indicating investor confidence in the company’s growth prospects in the field of high-performance computing.
It is worth noting that Muskie Data Campus will be TeraWulf’s second large-scale facility in Kentucky, as the company also owns the Justified Data center with a capacity of 480 MW.