TeraWulf Inc. (NASDAQ: WULF) said it has acquired a site in Kentucky to develop a dedicated artificial intelligence (AI) and high-performance computing (HPC) data center with a planned capacity of 1 gigawatt (GW). The Bitcoin miner’s shares rose on Tuesday following the announcement, which outlines a multi-phase buildout through 2030.
Acquisition and Capacity Plan
The Kentucky site is intended to anchor TeraWulf’s expansion beyond traditional Bitcoin mining into AI and HPC workloads. The company plans to develop the facility in stages over the next several years, targeting an eventual 1 GW of capacity. A phased approach allows the operator to scale infrastructure and power commitments alongside customer demand for compute.
Strategy: Beyond Bitcoin Mining
TeraWulf’s move reflects a broader trend among crypto miners seeking to diversify revenue by leveraging existing power access, data center expertise, and operational footprints to serve AI and HPC customers. Rapid growth in AI model training and inference has increased demand for energy-intensive, low-latency compute environments, creating opportunities for miners to repurpose or expand sites for non-crypto workloads.
Market Reaction
WULF shares advanced on Tuesday after the company disclosed the acquisition and long-term buildout plan. Investors have been closely watching miners that are repositioning assets to capture AI-related demand, particularly those outlining clear timelines and capacity targets.
Why It Matters
A planned 1 GW data center would represent a significant addition to U.S. AI and HPC infrastructure. If executed as described, TeraWulf’s multi-year program could help diversify the company’s business model while contributing to the broader buildout of compute capacity required by large-scale AI applications.