WULF TERAWULF INC.
Price Chart
Executive Summary
TeraWulf acquired a 1+ GW hyperscale development site (Muskie Data Campus) in Eastern Kentucky from Industrial Equity Partners, closed May 22, 2026. The ~285-acre site can support up to 1 GW of AI/HPC capacity, with initial 500 MW delivery expected H2 2028 and another 500 MW in H2 2030. No purchase price or acquisition cost was disclosed. The filing expands TeraWulf's multi-campus development pipeline and aligns with its stated strategy of securing power-advantaged sites, but adds no near-term revenue and requires significant future capital investment.
Actionable Insight
No financial terms disclosed — monitor upcoming quarterly filings for capex guidance and any additional details on customer pre-leasing. The site adds long-term optionality but does not contribute revenue until at least H2 2028. The stock may initially react to narrative expansion, but absence of cost or customer commitments limits near-term catalyst intensity.
Key Facts
- Acquired ~285-acre hyperscale development site in Eastern Kentucky (Muskie Data Campus) from Industrial Equity Partners
- Expected to support up to 1 GW of data center capacity — 500 MW initial delivery H2 2028, additional 500 MW H2 2030
- Site includes option for adjacent acres; Kentucky Power building 345 kV substation connected to 765 kV network
- Transmission and energy service agreements executed concurrently; no third-party consents or regulatory approvals required
- No purchase price / dollar amount for acquisition disclosed in this filing
- Site is already zoned with permitting underway — limited site work required
Financial Impact
Acquisition cost not disclosed — no financial details provided in the filing
Risk Factors
- Capital requirements for developing 1 GW of capacity are substantial and not quantified — could lead to future dilution or debt
- Revenue from the site is 2+ years away (H2 2028 at earliest); no customer agreements or lease commitments announced
- Execution risk on construction timelines and power delivery from the new substation
- Acquisition cost undisclosed — potential for overpay without transparency
Market Snapshot
Documents Analyzed
This report is based on 5 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001083301-26-000109 |
| Document: wulfeasternkypr5-26x26.htm | 0001083301-26-000109 |
| Document: 0001083301-26-000109-index-headers.html | 0001083301-26-000109 |
| Document: 0001083301-26-000109-index.html | 0001083301-26-000109 |
| Document: 0001083301-26-000109.txt | 0001083301-26-000109 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
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May 26, 2026
17d ago
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8-K
| $25.18 $25.66 | ▲ +1.91% | ▲ +0.82% | $26.06 (+3.49%) |
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May 8, 2026
5w ago
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8-K
| $23.39 $24.17 | ▼ −3.33% | ▼ −1.87% | $26.06 (−11.42%) |
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May 8, 2026
5w ago
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Press Release
| $23.39 $24.17 | ▼ −3.33% | ▼ −1.87% | $26.06 (−11.42%) |
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Apr 30, 2026
6w ago
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Press Release
| $21.73 $25.74 | ▲ +18.45% | ▲ +16.73% | $26.06 (+19.93%) |
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Apr 16, 2026
8w ago
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8-K
| $20.64 $20.01 | ▲ +3.05% | ▲ +3.61% | $26.06 (−26.26%) |
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Apr 16, 2026
8w ago
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424B5
| $19.31 $20.37 | ▼ −5.49% | ▼ −4.51% | $26.06 (−34.96%) |
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Apr 15, 2026
8w ago
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8-K
| $19.67 $20.55 | ▼ −4.47% | ▼ −2.83% | $26.06 (−32.49%) |
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Apr 14, 2026
8w ago
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8-K
| $19.67 $20.55 | ▼ −4.47% | ▼ −2.83% | $26.06 (−32.49%) |
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Apr 14, 2026
8w ago
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S-3ASR
| $19.67 $20.55 | ▲ +4.47% | ▲ +2.83% | $26.06 (+32.49%) |
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Mar 17, 2026
12w ago
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Insider Cluster
| $16.04 $16.22 | ▼ −1.12% | ▼ −3.78% | $26.06 (−62.47%) |
US Market Status
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