TeraWulf Shares Jump 10% on Acquisition of Massive 1 GW Data Center Site
WULF has more than doubled off its 52-week low of $3.395.
Summary
TeraWulf acquired the Muskie Data Campus, a 285-acre site in Kentucky, capable of supporting up to 1 gigawatt (GW) of data center capacity. This significant strategic move positions the company for future growth, with an initial 500 megawatts (MW) expected to ramp in the second half of 2028. The acquisition follows recent substantial capital raises, including a $1.004 billion public offering in April, and aligns with the CEO's stated strategy to secure large-scale sites for high-performance computing workloads. The market reacted positively, sending shares up 10%.
At the time of this announcement, WULF was trading at $24.90 on NASDAQ in the Crypto Assets sector, with a market capitalization of approximately $12.3B. The 52-week trading range was $3.40 to $25.93. This news item was assessed with positive market sentiment and an importance score of 9 out of 10. Source: Dow Jones Newswires.