TERAWULF INC. 8-K

What Happened TeraWulf Inc. announced it entered into a Membership Interest Purchase Agreement (MIPA) with Industrial Equity Partners to acquire the Muskie Data Campus in Eastern Kentucky. The site — about 285 acres owned and controlled with options for adjacent acreage — closed effective May 22, 2026 and is positioned to support up to 1 gigawatt (GW) of hyperscale AI and high-performance computing (HPC) data center capacity. The company disclosed an expected ramp of the initial 500 megawatts (MW) beginning in the second half of 2028, with an additional 500 MW targeted for delivery in the second half of 2030; the press release was issued May 26, 2026.

Key Details

• Acquisition structure: Membership Interest Purchase Agreement with Industrial Equity Partners; closed May 22, 2026.
• Site size/capacity: ~285 acres (with option for adjacent acres); expected to support up to 1 GW total.
• Delivery timeline: initial 500 MW ramp starting H2 2028; additional 500 MW targeted H2 2030.
• Power and contracts: Kentucky Power (an AEP company) is building a 345 kV substation tied to the existing 765 kV network; transmission infrastructure and energy service agreements were executed concurrently, establishing a pathway to long‑term, utility‑scale power delivery. The acquisition required no third‑party consents or regulatory approvals.

Why It Matters This acquisition expands TeraWulf’s development pipeline into a large, utility‑connected site dedicated to hyperscale AI/HPC workloads, with a defined timeline for phased capacity delivery. Executed transmission and energy service agreements and the utility substation connection reduce a key execution risk — large‑scale power availability — that is critical for data center projects. The closing of the deal (May 22, 2026) and the stated ramp dates give investors concrete milestones to track as the company builds toward the 1 GW campus.