TeraWulf Company to Expand Major AI Center in the US
TeraWulf, a company engaged in Bitcoin mining, has purchased a specialized site to establish a large data center in the state of Kentucky, USA. This was reported by Zamin.uz.
This project is an important part of the company's strategy to expand its business in the fields of artificial intelligence and high-performance computing. This step indicates that Bitcoin miners are not limiting themselves to traditional cryptocurrency mining but are diversifying their activities.
According to the official statement provided by the company, the new facility will be capable of supporting more than one gigawatt of artificial intelligence and high-performance computing power in the future. According to the plan, the initial five hundred megawatts of power will be launched in 2028, and the remainder will be fully completed by 2030.
The fact that the project is secured with long-term power purchase agreements confirms how seriously the company is focusing on developing modern technological infrastructure. According to the results of the last quarter, TeraWulf's revenue in the high-performance computing sector increased by one hundred seventeen percent.
Although losses were observed in the quarterly reports due to large investments in AI infrastructure, the company succeeded in securing a three billion dollar financing agreement through Morgan Stanley. Google Corporation is also participating in the process of supporting this significant deal.
Following the news about the new project in Kentucky, TeraWulf shares rose by nearly fourteen percent on the New York Stock Exchange, with the price per share approaching twenty-six dollars. Investors are showing great confidence in the company's strengthening position in the AI market and its future potential.
This is contributing to the steady growth of the company's value. Currently, alongside TeraWulf, other major Bitcoin miners such as Hut 8, HIVE Digital, and MARA Holdings have also begun transitioning to artificial intelligence and high-performance computing technologies.
TeraWulf shares have grown by nearly one hundred twenty percent since the beginning of the year, managing to outperform the prestigious S&P 500 index and many leading companies in the traditional technology sector.
