TeraWulf (WULF) rose 11% in premarket Tuesday following information that the corporate acquired two energy-intensive industrial websites, greater than doubling its vitality and IT 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 corporate mentioned in a information launch late Monday. The corporate mentioned it will assist it meet demand for brand spanking new large-scale computing and information workloads, in addition to help community reliability in these areas.
The transfer comes as a rising variety of crypto miners place themselves as key gamers within the rise of synthetic intelligence (AI) infrastructure. Since AI corporations want information heart house, high-powered chips, and enormous quantities of electrical energy, miners have turn into essential companions in dealing with computing wants.
TeraWulf’s Hawesville property, a former industrial web site with greater than 250 buildable acres, contains quick entry to 480 megawatts (MW) of energy, together with an on-site substation and high-voltage transmission traces. The agency mentioned the placement places it inside attain of main Midwest markets and presents a comparatively fast path to deploying new computing capability. The corporate hopes to develop the location in phases.
In Maryland, TeraWulf acquired the Morgantown Producing Station, a 210 MW energy facility with potential to develop to 1 GW. The positioning is already supplying electrical energy to the grid and will finally host 500 MW of IT infrastructure within the first part of development, the corporate mentioned.
The corporate mentioned its objective is to mix any future computing exercise with further energy technology to maintain the location web grid optimistic.
TeraWulf now operates throughout 5 websites and targets between 250 and 500 MW of recent contracted capability annually.
