TeraWulf (WULF) Stock Surges on Game-Changing Infrastructure Acquisitions

TLDR

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TeraWulf stock climbed 11% Tuesday after revealing two strategic infrastructure purchases
Company acquired power facilities in Kentucky and Maryland with 1.5 gigawatts of combined capacity
Total infrastructure portfolio now stands at 2.8 gigawatts across five locations
Kentucky site offers 480 megawatts of immediate power with 250+ buildable acres
Maryland generating station delivers 210 megawatts with 1 gigawatt expansion potential

TeraWulf shares surged 11% in pre-market trading Tuesday following the company’s announcement of two power-focused acquisitions. The stock reached an intraday high of $15.58.

TeraWulf Inc., WULF

The bitcoin mining company purchased industrial sites in Hawesville, Kentucky, and Morgantown, Maryland. The deals bring 1.5 gigawatts of additional capacity into TeraWulf’s portfolio.

These acquisitions more than double the company’s infrastructure base. TeraWulf now controls 2.8 gigawatts of total capacity.

The company unveiled both transactions in a late Monday press release. Markets responded positively when trading opened Tuesday morning.

Kentucky and Maryland Sites Bring Immediate Power Access

The Kentucky facility spans over 250 buildable acres at a former industrial location. It provides immediate access to 480 megawatts of power through existing infrastructure.

An on-site substation and high-voltage transmission lines come with the property. The location offers proximity to major Midwest markets. TeraWulf plans phased development of the site.

The Maryland acquisition involves the Morgantown Generating Station. This active power facility currently delivers 210 megawatts to the electrical grid.

The Maryland site can expand to 1 gigawatt of total capacity. TeraWulf projects the first buildout phase could support 500 megawatts of computing infrastructure.

The company stated it will add power generation alongside computing operations. This strategy aims to maintain net-positive grid contributions.

Positioning for AI and Computing Growth

TeraWulf Chairman and CEO Paul Prager explained the strategic thinking behind the purchases. “These acquisitions reflect our strategy of reinvesting in existing energy infrastructure to support grid reliability, long-term economic activity, and responsible growth,” he said.

Prager highlighted the importance of geographic diversity. “Regional diversity has become increasingly important as grid congestion, permitting timelines, and weather and policy considerations vary by market,” he added.

The moves position TeraWulf to capitalize on growing demand for computing infrastructure. Crypto miners have emerged as important players in the AI data center space.

AI companies require massive electricity supplies, data center capacity, and advanced hardware. Miners with power infrastructure can meet these needs.

TeraWulf now operates five total sites. The company targets adding 250 to 500 megawatts of new contracted capacity annually.

Company Pivots Toward AI Infrastructure

Last October, TeraWulf announced plans to raise $900 million through convertible senior notes. The capital supports a strategic shift from traditional bitcoin mining to AI data facility development.

The Kentucky and Maryland properties align with this broader transformation. Both locations offer power advantages and near-term deployment opportunities.

The sites provide long-term scalability as computing infrastructure demands increase. TeraWulf stated the acquisitions will help meet customer demand while supporting regional grid needs.

The company emphasized that both properties offer energy-advantaged locations. Quick power availability and expansion potential factored into the purchase decisions.

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