TeraWulf doubles contracted power at Kentucky campus to 1 GW

TeraWulf Inc. (Nasdaq: WULF) has amended its electric service agreement with Kentucky Power, an American Electric Power company, to increase contracted power capacity at its Muskie Data Campus in eastern Kentucky from 500 megawatts to 1 gigawatt.

The amended agreement moves the planned delivery of Muskie's second 500 MW phase from 2030 to 2029, subject to Kentucky Public Service Commission approval and Kentucky Power's construction schedule. The first 500 MW phase remains targeted to begin ramping in 2028. Development will proceed in accordance with Kentucky Governor Beshear's Executive Order on Data Center Development (2026-494).

Paul Prager, Chairman and Chief Executive Officer of TeraWulf, said: "Securing the next 500 MW and moving its planned delivery into 2029 gives us greater flexibility to meet prospective customers' deployment needs."

TeraWulf acquired the Muskie site in May 2026 for phased development as an AI and high-performance computing campus. Kentucky Power is developing a 765-kV / 345-kV substation connected to the regional transmission network to serve the site. The company said it continues to evaluate the campus's potential to support up to 2 GW over time, subject to additional utility planning, infrastructure, and agreements.

In August, the Kentucky Public Service Commission approved a separate electric service agreement for TeraWulf's Justified Data Campus in Hawesville, finding that its terms adequately protected existing customers and appropriately allocated costs and risks.

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