TerraWolf (WULF) rose 11% in premarket Tuesday on information that the corporate acquired two power-intensive industrial websites, greater than doubling its vitality and computing footprint to 2.8 gigawatts (GW).
The corporate mentioned in a press launch late Monday that 1.5 gigawatts of capability will likely be added at two websites: one in Hawesville, Kentucky, and one in Morgantown, Maryland. The corporate mentioned this can assist meet the calls for of latest large-scale computing and knowledge workloads whereas supporting grid reliability in these areas.
The transfer comes as a rising variety of crypto miners are positioning themselves as central gamers within the synthetic intelligence (AI) infrastructure increase. As AI corporations require knowledge heart area, high-performance chips, and huge quantities of energy, miners have turn into a essential accomplice in assembly their computing wants.
TeraWulf’s Hawesville website is over 250 buildable acres of former industrial land and contains quick entry to 480 megawatts (MW) of energy, together with an on-site substation and high-voltage transmission traces. The corporate mentioned the situation provides it entry to key markets within the Midwest and permits it to introduce new computing capability comparatively shortly. The corporate plans to develop the positioning in phases.
In Maryland, TeraWulf has picked up the Morgantown Energy Plant, a 210 MW era facility with growth potential to 1 GW. The positioning already powers the grid and will ultimately host 500 MW of computing infrastructure throughout the first section of development, the corporate mentioned.
The corporate mentioned it goals to mix future computing exercise with further energy era to maintain the positioning grid-positive.
TeraWulf at the moment operates from 5 websites and is concentrating on 250-500 MW of latest contracted capability every year.
