Crypto mining firm Terra Hosting has announced the acquisition and conversion of the Vermillion Rise Mega Park in Indiana for its cryptocurrency mining and data center operations.

Formerly a military base with a storied history dating back to the 1940s, the Vermillion site has enabled Terra to move out of its leased spaces in Kansas and Wyoming and reduce its power costs significantly.

The company stated it can now offer hosting rates of $0.0825 per kWh, and said more than 1,600 dedicated ASIC crypto mining machines are already active at the Vermillion site, which it is also positioning for AI infrastructure, high-performance computing, and enterprise data services.

Vermillion Rise is a 7,000-acre industrial park in West Central Indiana built on a former US military installation. The site was originally developed for wartime production in the 1940s and has since been redeveloped as an industrial campus with existing utility and transport infrastructure.

The Vermillion Rise Mega Park has 12kV and 69kV three-phase electrical service from Duke Energy, on-site natural gas utility, wastewater treatment, and a large water system tied to the Wabash River aquifer.

The park also carries a permitted groundwater withdrawal capacity of 43.57 million gallons per day, and a seven-million-gallon reservoir on site, giving Terra a potential cooling source for its crypto mining and power-dense digital workloads.

Terra said the Indiana build marks a step beyond its earlier operations in Kansas and Wyoming, shifting away from leased facilities toward owned infrastructure.

The company framed the Indiana campus as a hybrid site, which is immediately usable for ASIC hosting, but with room to scale into higher-availability compute services as demand for AI and HPC capacity grows.