TeraWulf (WULF) climbed 13% early Tuesday after the company announced plans for a large AI and high-performance computing campus in Kentucky. The company said it has acquired a hyperscale development site that can support more than 1 gigawatt of AI and HPC infrastructure over time.
Muskie Data Campus targets phased buildout through 2030
The project, called Muskie Data Campus, is expected to bring an initial 500 megawatts online starting in the second half of 2028. Another 500 megawatts is being targeted by 2030. For public bitcoin miners that have been shifting their pitch toward data center and compute infrastructure, projects with large-scale power access have become a central part of the story.
TeraWulf said the Kentucky build highlights a hard constraint in the current AI buildout: access to electricity and transmission capacity. Prager put it plainly, saying the defining bottleneck is no longer computing hardware but power, transmission infrastructure, and certainty of execution. That framing has gained traction across the sector as developers race to secure sites that can actually be energized at scale.
AI-linked crypto equities moved higher across the board
The move in TeraWulf also matched broader strength in AI-linked stocks, including bitcoin miners that are increasingly presenting themselves as operators of data center and AI infrastructure. Over the past year, this group has drawn heavy investor attention as the market prices in a business model tied to the large power demands of AI systems rather than token mining alone.
Elsewhere in the group, Hut 8 (HUT) added 7%, Keel Infrastructure (KEEL), formerly Bitfarms, rose 6.5%, IREN (IREN) gained nearly 5%, and Cipher Mining (CIFR) advanced 5.5%. Semiconductor names tied to AI demand also rallied. Micron (MU) jumped 15% to fresh record highs above $870 after UBS raised its target to $1,625 on strong memory demand from AI, while AMD gained 5% and also reached new highs.