Cryptominer and AI data center firm TeraWulf is expanding its footprint with a second planned site in Kentucky.

The Nasdaq-listed firm this week announced the acquisition of a hyperscale high-performance computing development site located in Eastern Kentucky.

Acquired from Industrial Equity Partners, the Muskie Data Campus is expected to support more than 1GW of data center capacity over time.

Located within the 1,000-acre EastPark Industrial Park, the site totals approximately 285 acres and is zoned for data center use. An initial 500MW is expected to ramp beginning in the second half of 2028, with an additional 500MW targeted for delivery in the second half of 2030.

“This acquisition further reinforces the strategy we discussed on our first quarter earnings call: securing and developing large-scale, power-advantaged sites capable of supporting the next generation of HPC workloads,” said Paul Prager, chairman and CEO of TeraWulf. “As we said then, the defining constraint in this market is no longer computing hardware — it is power, transmission infrastructure, and execution certainty. The Muskie Data Campus directly aligns with that thesis.”

Jake Bronstein and Michael MacDougall, speaking on behalf of IEP, added: “We have long believed the Muskie Data Campus represented a compelling opportunity for large-scale digital infrastructure development in Eastern Kentucky. We believe TeraWulf brings the infrastructure expertise, power strategy, and execution capabilities needed to realize the project’s full potential.”

TeraWulf is currently operating a campus outside Buffalo, New York, at a former coal power plant. TeraWulf initially mined cryptocurrency at the site before beginning to pivot the 180-acre campus towards AI and HPC uses.

Core42 and Fluidstack are live customers at the site, with Fluidstack set to occupy two more buildings later this year in a deal backed by Google. The site is set to reach 750MW, with potential to reach 1GW.

TeraWulf is also developing sites in Texas, Maryland, and Kentucky, and is planning a second development in New York in Lansing.

Fluidstack is set to lease capacity at the Texas site in Lubbock, in another deal backed by Google. The search giant has taken a 14 percent stake in TeraWulf across those two deals.

TeraWulf’s other campus in Kentucky, the 480MW Justified Data Campus in Hancock County, is set to be developed on a former aluminum processing site acquired from Century Aluminum. The first facility on the 790-acre site is due online in 2027. Century Aluminum operated there from 1969 to 2022.

Industrial Equity Partners is focused on acquiring industrial properties and converting them for new uses, including sites with complicated environmental remediation requirements, such as coal plants.

Located near Ashland and Grayson, close to the state borders with Ohio and West Virginia, EastPark is a partnership between the Boyd, Carter, Elliott, Greenup, and Lawrence County governments and the Commonwealth of Kentucky. Established in 1988 and operated by the Northeast Kentucky Regional Industrial Park Authority, much of the site was previously a strip line.