TeraWulf Inc. (NASDAQ:WULF) shares are trading higher Tuesday after the company announced the acquisition of two strategically located infrastructure sites in Kentucky and Maryland.
Strategic Acquisitions Expand Digital And Power Infrastructure Portfolio
TeraWulf said it acquired two brownfield infrastructure sites in Hawesville, Kentucky, and Charles County, Maryland, adding approximately 1.5 gigawatts of load capacity to its digital and power infrastructure portfolio. Following the acquisitions, the company's total infrastructure portfolio has expanded to about 2.8 gigawatts across five sites.
In Kentucky, the company acquired a former industrial site in Hawesville with more than 250 buildable acres and immediate access to power infrastructure, including high-voltage transmission lines, an on-site energized substatio and a direct connection to the regional transmission network. The site has approximately 480 megawatts of existing power availability and is planned to be developed into a digital infrastructure campus supporting high-performance computing and artificial intelligence workloads.
Century Aluminum Company, the seller of the Hawesville site, will retain a non-controlling minority equity stake. Century said the redevelopment is expected to create construction jobs, permanent skilled positions and long-term economic activity for the region.
In Maryland, TeraWulf acquired the Morgantown Generating Station, a grid-connected power generation facility with approximately 210 megawatts of operational generation capacity and the ability to expand to up to 1 gigawatt. The company said its current development plan contemplates constructing approximately 500 megawatts in an initial phase. The closing of the Morgantown acquisition is subject to third-party consents and regulatory approvals, including from the Federal Energy Regulatory Commission.
TeraWulf said its expanded portfolio includes approximately 642.5 megawatts of contracted capacity and 2.2 gigawatts of owned pipeline capacity, supporting its target of adding 250 to 500 megawatts of new contracted capacity annually.
Benzinga Edge Rankings
Below is the Benzinga Edge scorecard for TeraWulf, highlighting its strengths and weaknesses compared to the broader market:
- Momentum: Bullish (Score: 98.22) — Stock is outperforming the broader market.
The Verdict: TeraWulf’s Benzinga Edge signal reveals a strong momentum score, suggesting that the stock is currently in a favorable position compared to the market. Investors should monitor for potential breakout opportunities as the stock continues to perform well in a positive market environment.
TeraWulf Shares Surge Higher
WULF Price Action: At the time of writing, TeraWulf shares are trading 10.49% higher at $14.84, according to data from Benzinga Pro.
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