TeraWulf jumps 13% on AI data center expansion in Kentucky

TeraWulf shares jumped 13% early Tuesday after the company unveiled plans for a large-scale AI and high-performance computing campus in Kentucky, signaling the growing importance of energy access in the AI race.

The Maryland-based bitcoin miner and data center operator said it acquired a hyperscale development site capable of supporting more than 1 gigawatt of AI and HPC infrastructure. The so-called Muskie Data Campus is expected to deliver an initial 500 megawatts starting in the second half of 2028, with another 500 megawatts targeted by 2030. The company noted that access to electricity and transmission infrastructure has become a key battleground in the AI boom, as demand for computing power surges.

For cryptocurrency and digital asset traders, TeraWulf's pivot toward AI and HPC highlights a broader trend among bitcoin miners diversifying revenue streams beyond block rewards. Many miners are repurposing their energy infrastructure to serve AI clients, which can provide more stable cash flows. This shift could reduce the supply of hash rate available for bitcoin mining, potentially supporting bitcoin prices if demand remains steady. Traders can track real-time price moves for TeraWulf and other mining stocks on NowPrice's live crypto dashboard.

Looking ahead, investors will watch for further details on the Muskie Data Campus timeline and financing. The project's success could set a precedent for other miners seeking to enter the AI hosting space. Additionally, broader market sentiment toward AI-related stocks and energy infrastructure will likely influence TeraWulf's near-term performance. The company's ability to execute on its expansion plans amid rising competition for power and data center capacity will be key.