TeraWulf (WULF) rose 11% on Tuesday pre-market after information that the agency acquired two power-heavy industrial websites, greater than doubling its vitality 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 mentioned in a late Monday press launch. The corporate mentioned this may assist it meet demand for brand spanking new large-scale computing and knowledge 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 growth. With AI firms in want of information middle area, high-powered chips, and huge quantities of electrical energy, miners have turn out to be essential companions to deal with compute wants.
TeraWulf’s Hawesville property, a former industrial website with over 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 situation 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 enlargement potential to 1 GW. The positioning is already delivering electrical energy to the grid and will finally host 500 MW of compute infrastructure within the first buildout part, the agency mentioned.
The corporate mentioned it goals to pair any future computing exercise with added energy technology to maintain the location net-positive for the grid.
TeraWulf now operates throughout 5 websites and is focusing on 250 to 500 MW of recent contracted capability annually.
