May 27, 2026 | Posted by Abdul-Rahman Oladimeji
TeraWulf is expanding its presence in Kentucky with the acquisition of a second planned site for hyperscale high-performance computing. The Nasdaq-listed cryptomining and AI infrastructure firm announced it has acquired the Muskie Data Campus in Eastern Kentucky from Industrial Equity Partners. The project is expected to ultimately support more than 1GW of data center capacity. Located within the 1,000-acre EastPark Industrial Park, the site spans around 285 acres and is zoned for data center development. The first 500MW phase is expected to come online in the second half of 2028, followed by an additional 500MW in the second half of 2030.
“This acquisition further reinforces the strategy we discussed on our first quarter earnings call: securing and developing large-scale, power-advantaged sites capable of supporting the next generation of HPC workloads,” said Paul Prager, chairman and CEO of TeraWulf. “As we said then, the defining constraint in this market is no longer computing hardware — it is power, transmission infrastructure, and execution certainty. The Muskie Data Campus directly aligns with that thesis.”
Jake Bronstein and Michael MacDougall, speaking on behalf of IEP, added: “We have long believed the Muskie Data Campus represented a compelling opportunity for large-scale digital infrastructure development in Eastern Kentucky. We believe TeraWulf brings the infrastructure expertise, power strategy, and execution capabilities needed to realize the project’s full potential.”
TeraWulf operates a campus outside Buffalo at a former coal power plant, where it originally mined cryptocurrency before transitioning the 180-acre site toward AI and high-performance computing (HPC) uses. At the site, Core42 and Fluidstack are live customers, with Fluidstack expected to occupy two additional buildings later this year under a deal backed by Google. The campus is planned to scale to 750MW, with potential expansion up to 1GW. TeraWulf is also developing projects in Texas, Maryland, and Kentucky, as well as a second New York development in Lansing.
