TeraWulf acquired the Muskie Data Campus in Kentucky to expand its artificial intelligence and high-performance computing infrastructure. The new site provides over 1 gigawatt of power capacity. The first 500 megawatts are scheduled to come online in the second half of 2028.
This acquisition increases TeraWulf’s total infrastructure portfolio to approximately 3.8 gigawatts. Oppenheimer raised its price target for the company to $35 from $25. B. Riley Securities increased its price target to $32 from $27. Analysts highlighted the company's strategic pivot toward AI and the increasing value of large-scale power assets.