TERAWULF INC. 8-K

What Happened

• TeraWulf announced on February 2, 2026 that it closed the purchase of a former industrial site in Hawesville, Kentucky and signed an Equity and Asset Purchase Agreement to acquire the Morgantown generating station in Charles County, Maryland. The Morgantown agreement was signed in late 2025; closing is subject to third‑party consents and regulatory approvals, including FERC.

Key Details

• Hawesville: closed effective Feb 2, 2026; includes more than 250 buildable acres, on‑site energized substation, multiple high‑voltage transmission lines and direct connection to the regional transmission network.
• Hawesville seller received a 6.8% minority equity interest in TeraWulf’s Hawesville development entity and may request redemption starting one year after the data center begins operations; seller will not be involved in development, financing, construction, management or operations.
• Morgantown: about 210 megawatts (MW) of operational capacity today; sale includes electrical infrastructure, real property, contracts and other assets; closing requires customary third‑party consents and regulatory approvals (including FERC).

Why It Matters

• These acquisitions expand TeraWulf’s site and power footprint with one site ready for rapid development of a high‑performance computing/AI data center (Hawesville) and a grid‑connected power plant (Morgantown) that can supply significant on‑site generation. For investors, the deals could shorten development timelines and support future energy and data‑center operations, but Morgantown’s contribution depends on obtaining required consents and regulatory approvals.