TeraWulf announced the acquisition of a hyperscale high-performance computing development site in Eastern Kentucky known as the Muskie Data Campus, significantly expanding the company’s portfolio of large-scale AI and HPC infrastructure assets.
The newly acquired campus is expected to support more than 1 gigawatt of future data center capacity, positioning it among the largest scalable AI and HPC development sites in Kentucky. TeraWulf acquired the property from Industrial Equity Partners (IEP) and expects the initial 500 megawatts of capacity to begin ramping in the second half of 2028, with another 500 megawatts targeted for the second half of 2030.
Located within the 1,000-acre EastPark Industrial Park, the Muskie Data Campus includes approximately 285 acres of owned and controlled land designed to support hyperscale AI and HPC infrastructure. The company also has access to optional adjacent acreage for future expansion opportunities.
The acquisition aligns with TeraWulf’s strategy of securing shovel-ready AI and HPC campuses with long-term access to power infrastructure, transmission capacity, and favorable development conditions. Kentucky Power, an AEP company, is constructing a 345 kV substation tied into an existing 765 kV transmission network to support the site’s full 1+ GW power requirements. TeraWulf said transmission infrastructure and energy service agreements were executed simultaneously with the acquisition.
The company noted that the site is already zoned for its intended use, permitting activities are underway, and minimal site work is needed before construction can begin. TeraWulf believes the campus offers an accelerated timeline to power availability compared to competing AI infrastructure developments.
TeraWulf also plans to collaborate with regional educational institutions and workforce development organizations to support long-term economic development and workforce training tied to the project.
The Muskie Data Campus becomes TeraWulf’s second major digital infrastructure campus in Kentucky alongside the company’s 480 MW Justified Data campus in Hancock County. The company said Kentucky continues to emerge as a key market for large-scale AI and HPC development because of its energy infrastructure, supportive business environment, and state-level engagement.
KEY QUOTES:
“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. 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.
Muskie combines scalable power, robust transmission infrastructure, development readiness, and strategic regional positioning in a way that is increasingly difficult to replicate. The campus will be purpose-built around utility-scale infrastructure, including dedicated transmission investments and long-term power delivery planning designed specifically to support hyperscale AI workloads.
TeraWulf is fundamentally a power infrastructure company that builds digital infrastructure, not the other way around. Our ability to identify, secure, and develop sites like Muskie reflects the advantages of our integrated approach and deep experience operating complex energy infrastructure assets. Muskie further expands our multi-campus development pipeline and strengthens our ability to serve large-scale AI and HPC customers across multiple regions and power markets.
This project also reflects an important core strategy at TeraWulf: disciplined growth. We continue to focus on sites with durable power control, scalable expansion potential, strong utility relationships, and clear pathways to commercialization. Muskie is an excellent example of that strategy in action.”
Paul Prager, Chairman and Chief Executive Officer, TeraWulf
“We have long believed the Muskie Data Campus represented a compelling opportunity for large-scale digital infrastructure development in Eastern Kentucky. We believe TeraWulf brings the infrastructure expertise, power strategy, and execution capabilities needed to realize the project’s full potential.”
Jake Bronstein and Michael MacDougall, Industrial Equity Partners
