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TeraWulf Acquires Muskie Data Campus, Expanding AI Infrastructure Portfolio Beyond 2.8 GW

TeraWulf Acquires Muskie Data Campus, Expanding AI Infrastructure Portfolio Beyond 2.8 GW

Analysts are increasingly focused on power access as the key constraint in AI data center growth, and TeraWulf’s Kentucky campus strengthens its shift from Bitcoin mining toward large-scale AI and HPC infrastructure.

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Fact Check
The TeraWulf official investor press release (May 26, 2026) directly confirms acquisition of the Muskie Data Campus in Eastern Kentucky and the 500 MW H2 2028 / 500 MW H2 2030 phasing toward 1+ GW. CryptoBriefing independently corroborates the 2.8 GW portfolio figure. The only minor imprecision in the claim is 'another 500 MW before 2030' vs. the official 'H2 2030,' but the substantive facts are accurate.
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Summary

TeraWulf’s newly acquired 285-acre Muskie Data Campus in eastern Kentucky is expected to support more than 1 gigawatt of AI and high-performance computing capacity, with the first 500 megawatts targeted for the second half of 2028 and another 500 megawatts planned for the second half of 2030. Kentucky Power is building a 345 kV substation connected to a 765 kV transmission network, and TeraWulf said transmission and energy service agreements tied to the project have already been secured. The expansion reinforces TeraWulf’s transition from Bitcoin mining to AI and HPC hosting, where the company said AI compute revenue exceeded Bitcoin mining revenue for the first time in Q1 and HPC leasing contributed about $21 million of its roughly $34 million in Q1 2026 revenue. The announcement comes as investors increasingly view electricity access, transmission infrastructure, and utility approvals as central constraints on hyperscale AI development.

Terms & Concepts
  • Gigawatt: A gigawatt is a unit of power capacity equal to one billion watts, used here to describe the scale of electricity available for major AI data center projects.
  • High-performance computing: High-performance computing refers to advanced computing systems designed for intensive workloads such as AI model training, analytics, and scientific processing.
  • Bitcoin mining: Bitcoin mining is the process of using specialized computing power to validate Bitcoin transactions and secure the network in exchange for rewards.