TeraWulf plans to build a 1 GW AI data center in Kentucky, and its stock price surged by 13%

According to CoinDesk, Bitcoin mining company turned HPC infrastructure developer TeraWulf (WULF) announced the acquisition of a site in Kentucky, USA, capable of supporting over 1 gigawatt of AI and high-performance computing (HPC) loads for the development of a massive data center. The first phase of 500 megawatts is expected to gradually come online starting in the second half of 2028, with a goal of adding another 500 megawatts before 2030. The company stated that the key constraints in the market under the AI boom have shifted from computing hardware to power and transmission infrastructure. Following the news, TeraWulf's stock price surged 13% during trading, and shares of other companies in the same sector, such as Hut 8 (HUT), Keel Infrastructure (KEEL), IREN (IREN), and Cipher Mining (CIFR), also rose.