Kentucky Power, TeraWulf Finalize Expanded Agreement Providing for $100 Million in Customer Benefits

TeraWulf increased its contracted power capacity at Muskie Data Campus from 500 MW to 1 GW, with the second phase now planned for 2029. The project, acquired in 2026, aims to support AI and high-performance computing, with potential for 2 GW capacity. Approval and construction schedules are pending.

Applied Digital (APLD) rose 3% to $25.43 after securing a Finland power agreement for 1 GW, its first international data center. The company plans to market the site to global hyperscale customers. TeraWulf (WULF) and Core Scientific (CORZ) also saw gains. Applied Digital's earnings report is due October 7.

Kentucky Power and TeraWulf Inc. expanded their agreement, doubling power to 1 gigawatt for TeraWulf's data center campus. The deal includes $100M in bill credits for residential customers, subject to regulatory approval. TeraWulf will cover infrastructure costs and accelerate its second phase to 2029.

TeraWulf (WULF) shares fell 5% to $14.77 despite doubling its Muskie campus power contract to 1 gigawatt, awaiting regulatory approval. Core Scientific (CORZ) and Riot (RIOT) also declined 3% and 2%, respectively, reflecting broader sector weakness. The Global X Data Center ETF (DTCR) dropped 0.3%, while the S&P 500 (SPY) rose 0.2%.

TeraWulf Inc. (WULF) increased its power capacity at the Muskie Data Campus from 500 MW to 1 GW, accelerating the second phase's delivery to 2029. The site, acquired in 2026, is planned for AI and high-performance computing, with potential for up to 2 GW capacity.

Terawulf Inc. stock rose 2.8% in pre-market trading after expanding its power infrastructure deal with Kentucky Power, doubling capacity to 1 gigawatt and accelerating delivery. The company will provide $100M in bill credits and cover financing costs for a new generation facility. Analysts have mixed views, with a consensus target above current levels. The NASDAQ and S&P 500 were flat or lower.