TeraWulf shares jump 12.20% premarket after acquiring 1.5 GW power-rich sites in Kentucky and Maryland to expand AI infrastructure.

TeraWulf surged 12.2% in premarket trading following the announcement of acquiring two power-rich industrial sites in Kentucky and Maryland, adding 1.5 GW of capacity and expanding its infrastructure portfolio to 2.8 GW. The acquisitions position the company to meet growing demand for AI and high-performance computing (HPC) workloads, with immediate access to 480 MW in Kentucky and 210 MW in Maryland, alongside plans to develop 500 MW in Maryland’s first phase. The move aligns with TeraWulf’s strategic pivot from bitcoin mining to AI infrastructure, supported by Needham analyst John Todaro’s recent positive outlook. The news underscores the company’s ability to leverage power-dense assets for colocation opportunities, enhancing its relevance in the AI infrastructure boom amid heightened competition for grid capacity.