TeraWulf (WULF) rose 11% on Tuesday pre-market after information that the agency acquired two power-heavy industrial websites, greater than doubling its power and computing footprint to 2.8 gigawatts (GW).
The websites — one in Hawesville, Kentucky, and the opposite in Morgantown, Maryland —add 1.5 gigawatts of capability, the agency stated in a late Monday press launch. The corporate stated this may assist it meet demand for brand new large-scale computing and information workloads, in addition to assist grid reliability in these areas.
The transfer comes as a rising variety of crypto miners place themselves as key gamers within the synthetic intelligence (AI) infrastructure increase. With AI corporations in want of knowledge middle house, high-powered chips, and huge quantities of electrical energy, miners have change into essential companions to deal with compute wants.
TeraWulf’s Hawesville property, a former industrial web site with over 250 buildable acres, contains fast entry to 480 megawatts (MW) of energy, together with an on-site substation and high-voltage transmission strains. The agency stated the placement places it inside attain of main Midwest markets and presents a comparatively quick path to deploying new compute capability. The corporate expects to develop the location in phases.
In Maryland, TeraWulf picked up the Morgantown Producing Station, a 210 MW energy facility with growth potential to 1 GW. The positioning is already delivering electrical energy to the grid and will ultimately host 500 MW of compute infrastructure within the first buildout part, the agency stated.
The corporate stated it goals to pair any future computing exercise with added energy era to maintain the location net-positive for the grid.
TeraWulf now operates throughout 5 websites and is concentrating on 250 to 500 MW of latest contracted capability every year.
