TeraWulf plans to build a 1GW AI data center in Kentucky, stock price surges 13%

On May 26, according to CoinDesk, Bitcoin mining company turned HPC infrastructure developer TeraWulf (WULF) announced the acquisition of a site in Kentucky, USA, for the development of a hyperscale data center capable of supporting over 1 gigawatt of AI and high-performance computing (HPC) loads. The first phase of 500 megawatts is expected to go online gradually starting from the second half of 2028, with a target to add another 500 megawatts by 2030. The company stated that under the AI boom, the key market constraint has shifted from computing hardware to power and transmission infrastructure. Driven by the news, TeraWulf's stock price surged 13% intraday, and stocks of other companies in the same sector, such as Hut 8 (HUT), Keel Infrastructure (KEEL), IREN (IREN), and Cipher Mining (CIFR), also rose in tandem.