TeraWulf just bought another massive chunk of Kentucky real estate, and it has nothing to do with bourbon. The Nasdaq-listed Bitcoin miner acquired the Muskie Data Campus, a hyperscale high-performance computing development site in eastern Kentucky, from Industrial Equity Partners. The facility sits within the 1,000-acre EastPark Industrial Park and encompasses roughly 285 acres of owned and controlled land.
The planned buildout is enormous: over 1 GW of total data center capacity across the site. The first 500 MW phase is expected to come online in the second half of 2028, with an additional 500 MW targeted for the second half of 2030.
Kentucky is becoming TeraWulf’s second home
This is TeraWulf’s second major Kentucky acquisition in 2026 alone. Back in February, the company snapped up a facility in Hawesville and rebranded it as the Justified Data Campus. That site came with approximately 480 MW of existing power availability.
TeraWulf is targeting what the industry calls “brownfield sites,” locations that already have zoning approvals, existing infrastructure, and established relationships with local utilities. CEO Paul Prager pointed to exactly those advantages when discussing the Muskie acquisition. The site benefits from ready zoning, minimal preparation work, and backing from state and local leaders.
The power play behind the deal
Kentucky Power is constructing a 345 kV substation at the Muskie site, connected to the existing 765 kV transmission network. Between the Muskie and Justified campuses, TeraWulf is assembling a Kentucky portfolio with potential capacity approaching 1.5 GW when you add the Muskie site’s 1 GW target to Justified’s existing 480 MW.