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TeraWulf doubles contracted power at Muskie AI/HPC campus to 1 GW
The Nasdaq-listed company now has 1 GW lined up at its Eastern Kentucky site and has floated scaling it to as much as 2 GW
TeraWulf just secured twice the electricity it had lined up for its newest data center project. On October 5, 2026, the company (Nasdaq: WULF) said contracted power at its Muskie Data Campus in Eastern Kentucky now stands at 1 GW.
That is double the prior contracted amount. Management has also signaled it wants to push the site to 2 GW.
What TeraWulf announced
The core news is simple. TeraWulf has commitments for 1 GW of power at Muskie, up from half that level before the October 5 update.
The campus is built for AI and HPC workloads. HPC stands for high-performance computing, the heavy-duty processing used for tasks like training and running AI models.
The Muskie property covers 285 acres. It sits inside a much larger 1,000-acre industrial park.
The build-out timeline
Contracted power and live capacity are not the same thing. TeraWulf plans to bring Muskie online in phases rather than all at once.
The first phase targets 500 MW of capacity in the second half of 2028. A second 500 MW phase is slated for the second half of 2030.
Put together, those two stages add up to the full 1 GW now under contract.
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How TeraWulf got here
Muskie is a recent addition to the portfolio. TeraWulf acquired the campus from Industrial Equity Partners on May 22, 2026.
At the time of the deal, the site was described as adding over 1 GW of planned AI/HPC capacity. It is positioned as one of TeraWulf’s largest scalable development sites in Kentucky.
The 2 GW ambition surfaced a few months later. On the company’s Q2 2026 earnings call on August 5, CEO Paul Prager expressed optimism about scaling the site to as much as 2 GW.
His reasoning centered on power. Prager pointed to abundant near-term power availability and the existing infrastructure around the campus as the reasons a larger build looked achievable.
The 2 GW figure, though, remains a plan. TeraWulf has not said it has contracted that much power, only that it intends to work toward it.
What this means for TeraWulf and investors
The most direct read is that TeraWulf is treating electricity as its primary competitive asset. Doubling contracted capacity at a single site gives TeraWulf a larger, more marketable block of future capacity to offer customers who need to run big AI and HPC workloads.
There are clear risks to weigh. The first meaningful capacity is not targeted until the second half of 2028, so revenue from this campus sits years in the future.
Scaling beyond the current contract would require more power commitments and more capital, and none of that is locked in yet.
The key milestones to track are updates on customer agreements for Muskie, progress toward the 2028 phase, and any news on additional power that would move the 2 GW goal from aspiration to contract.