Bitcoin mining company TeraWulf has acquired a site in Kentucky, USA, to build a large-scale data center. This project is part of the company's strategy to expand its artificial intelligence (AI) and high-performance computing (HPC) business, signaling a diversification from traditional cryptocurrency mining. This was reported by Cointelegraph.com reports .
According to TeraWulf, the facility could support over 1 gigawatt of AI and HPC capacity in the future. The company plans to launch the initial 500 megawatts of capacity in 2028, with the remaining 500 megawatts to be completed by 2030. The project is secured by long-term power purchase agreements, confirming the company's strong focus on technological infrastructure.
In the last quarter, TeraWulf's revenue in the HPC sector grew by 117 percent. Although a quarterly loss was observed due to heavy investments in AI infrastructure, the company secured a $3 billion financing deal through Morgan Stanley. Google is also participating in supporting this transaction.
Following the news of the new project in Kentucky, TeraWulf (WULF) shares rose by 13.6 percent on the New York Stock Exchange, reaching nearly $26 per share. Investors are showing strong confidence in the company's ability to solidify its position in the AI market.
Currently, alongside TeraWulf, other major Bitcoin miners such as Hut 8, HIVE Digital, and MARA Holdings are also shifting toward AI and high-performance computing technologies. TeraWulf shares have grown by nearly 120 percent year-to-date, outperforming the S&P 500 index and many companies in the traditional technology sector.
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