TeraWulf data center and infrastructure expansion

TeraWulf is expanding its high-performance computing (HPC) and artificial intelligence (AI) infrastructure across multiple sites in the United States.

In Kentucky, the company has doubled the contracted power capacity for its Muskie Data Campus from 500 megawatts (MW) to 1 gigawatt (GW). This expansion includes an accelerated timeline for the second phase of development, now expected in 2029. To support this growth, TeraWulf will fund $100 million in winter bill credits for residential customers and cover financing costs for a planned gas plant to mitigate the impact of increased demand on existing customers.

At the Lake Mariner campus in New York, TeraWulf has reached 102 MW of revenue-generating critical IT capacity. This milestone activates $600 million in credit support from Google to back the lease obligations of the campus tenant, Fluidstack. Google’s total credit backstop for Fluidstack at the site has risen to approximately $3.2 billion, with total agreements valued at $6.7 billion and potential extensions reaching $16 billion. Additionally, Google holds warrants that could grant it a pro forma stake of approximately 14% in TeraWulf.