TeraWulf announced the acquisition of two brownfield infrastructure sites in Kentucky and Maryland, adding approximately 1.5 gigawatts of load capacity and more than doubling its total portfolio to 2.8 GW across five sites. The move reflects increasing competition for energy-advantaged locations as data centers, AI workloads, and high-performance computing drive localized demand growth.
In Kentucky, TeraWulf acquired a former industrial site in Hawesville with approximately 480 MW of existing power availability, supported by an energized on-site substation and multiple high-voltage transmission lines. Immediate access to power is increasingly rare in constrained regions, where interconnection queues can delay projects by years.
The company positioned the site as both a compute location and a contributor to grid stability, noting that large, predictable loads can support infrastructure cost recovery as regional demand grows.
In Maryland, TeraWulf acquired the Morgantown Generating Station, a grid-connected facility with approximately 210 MW of operational generation capacity and the ability to expand to up to 1 GW over time. The site establishes the company’s footprint in the PJM market and reflects a different approach to load growth: pairing future compute demand with incremental generation and battery storage to remain net-positive to the grid.
TeraWulf’s development plan contemplates an initial 500 MW expansion phase, with future buildout coordinated alongside regulators and local stakeholders. By leveraging existing industrial and energy infrastructure, the company aims to shorten redevelopment timelines while maintaining reliability.
Together, the acquisitions support 250–500 MW of targeted new contracted capacity annually, aligned with power availability rather than speculative demand growth. That discipline is increasingly relevant as grid congestion, permitting timelines, and regional variability shape where digital infrastructure can realistically scale.
Rather than treating power as an external constraint, TeraWulf’s strategy reflects a broader trend: data infrastructure developers are moving closer to generation, transmission, and storage assets to reduce execution risk.
As electricity demand continues to rise, the projects underscore a growing reality for digital growth—location, timing, and power integration now matter as much as compute capacity itself.
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