TeraWulf announces a 1GW AI park in Kentucky, shares rise 10%

TeraWulf announced on May 26 that it has acquired 285 acres of land in eastern Kentucky, naming it the “Muskie Data Campus,” with plans to build more than 1GW of artificial intelligence (AI) and high-performance computing (HPC) capacity. The company’s stock price rose 10.3% on the most recent trading day after the news was released, closing at $25.18.

Muskie 園區的確認規格與分階段時程

依公司公告，Muskie 資料園區將分兩期建設：首批 500 兆瓦（MW）計劃於 2028 年下半年完成；另外 500 兆瓦計劃於 2030 年下半年完成，兩期合計達 1GW。TeraWulf 已確認取得與該項目相關的輸電和能源服務協議。據報道，肯塔基電力公司正在建造一座 345 千伏（kV）變電站，接入 765 千伏輸電網路以滿足工業規模電力需求。此外，TeraWulf 在肯塔基州已運營另一座 480 兆瓦的現有設施。

TeraWulf 轉型財務進展：HPC 租賃業務佔 Q1 收入 62%

TeraWulf 公布 2026 年第一季財務數據，總營收約 3,400 萬美元，其中 HPC 租賃業務收入為 2,100 萬美元。公司由比特幣挖礦起家，現已將業務重心轉向 AI 和高效能運算託管服務。Muskie 園區是繼現有肯塔基州 480 兆瓦設施後的重大新增容量。

同日市場動態：AI 概念股上漲，加密市場下跌

2026 年 5 月 27 日，AI 基礎設施及資料中心相關股票延續升勢：Hut 8 上漲逾 6%，Keel 上漲 6.5%，AMD 上漲 5%，美光科技在瑞銀上調目標價後漲近 20%，創下歷史新高。同日，全球加密貨幣市場下跌約 2%，總市值降至約 2.54 兆美元；比特幣報約 75,000 美元，以太幣報約 2,100 美元。

常見問題

What has been confirmed about the Muskies campus power capacity and construction timeline?

According to the company announcement, the first batch of 500 megawatts is planned to be completed in the second half of 2028, and the additional 500 megawatts is planned to be completed in the second half of 2030; together, the two phases total 1GW. TeraWulf has confirmed that it has secured transmission and energy services agreements, and the construction of substations by Kentucky Power Company has also been reported as underway.

TeraWulf 轉型 AI/HPC 業務的財務表現如何？

TeraWulf 2026 年第一季 HPC 租賃業務收入為 2,100 萬美元，佔季度總營收 3,400 萬美元的約 62%，顯示公司業務重心已在財務數據上有所體現。

What is the known market size for comparable large AI power facilities in Kentucky?

According to reports, Microsoft previously partnered with Constellation Energy to restart the Three Mile Island nuclear power plant, expected to provide approximately 800 megawatts of capacity; Amazon and Talen Energy plan to provide approximately 2GW of dedicated power capacity for AI data centers. TeraWulf’s 1GW target is comparable in scale to the above cases.