TeraWulf Acquires Kentucky Site for 1GW Hyperscale Data Center Campus
May 28, 2026
TeraWulf Acquires Kentucky Site for 1GW Hyperscale Data Center Campus
TeraWulf, a Nasdaq-listed cryptocurrency miner and AI data center firm, has expanded its footprint in Kentucky with the acquisition of a second large-scale development site, signaling the company’s aggressive push into high-performance computing (HPC) infrastructure. The move underscores a broader industry shift where power availability and site readiness have become more critical than hardware supply in the race to build next-generation data centers.
The company announced this week that it has acquired the Muskie Data Campus, a hyperscale HPC development site located in Eastern Kentucky, from Industrial Equity Partners. The campus, situated within the 1,000-acre EastPark Industrial Park, spans approximately 285 acres and is already zoned for data center use. Over time, the site is expected to support more than 1GW of data center capacity. An initial 500MW is anticipated to begin ramping up in the second half of 2028, with an additional 500MW targeted for delivery by 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 Industrial Equity Partners, added that they have long believed the Muskie Data Campus represented a compelling opportunity for large-scale digital infrastructure development in Eastern Kentucky, and that TeraWulf brings the infrastructure expertise, power strategy, and execution capabilities needed to realize the project’s full potential.
TeraWulf already operates a campus outside Buffalo, New York, at a former coal power plant, where it initially mined cryptocurrency before pivoting the 180-acre site toward AI and HPC uses. Core42 and Fluidstack are live customers at that site, with Fluidstack set to occupy two more buildings later this year in a deal backed by Google. The New York site is expected to reach 750MW, with potential to scale to 1GW. In addition, TeraWulf is developing sites in Texas, Maryland, and Kentucky, and is planning a second New York development in Lansing. Fluidstack is also set to lease capacity at the Texas site in Lubbock, in another deal backed by Google, which has taken a 14 percent stake in TeraWulf across these two agreements.
TeraWulf’s other Kentucky campus, the 480MW Justified Data Campus in Hancock County, is being developed on a former aluminum processing site acquired from Century Aluminum, where the first facility on the 790-acre site is due online in 2027. Industrial Equity Partners, which focuses on acquiring industrial properties and converting them for new uses—including sites with complex environmental remediation requirements, such as coal plants—played a key role in the latest transaction. The EastPark Industrial Park, located near Ashland and Grayson close to the Ohio and West Virginia borders, is a partnership between local county governments and the Commonwealth of Kentucky, established in 1988 and operated by the Northeast Kentucky Regional Industrial Park Authority, with much of the site previously used as a strip line.
Source: datacenterdynamics
