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The announcement confirms a multi-year, power-advantaged growth path, potentially expanding revenue opportunities and asset utilization, though capex intensity and execution risk remain; near-term gains driven by strategic clarity and proximity to existing KY assets, with potential multiple expansion as milestones hit.
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TeraWulf disclosed the Muskie Data Campus in Kentucky, aiming for more than 1 GW of capacity over time. The first 500 MW ramps in 2H 2028, with a second 500 MW by 2H 2030, backed by a new 345 kV substation and robust transmission links. This reinforces WULF's strategy to secure power-advantaged, large-scale AI infrastructure and expands its footprint alongside the Justified Data campus.
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