In a major strategic expansion, Bitcoin mining firm TeraWulf (NASDAQ: WULF) has acquired two new mining facility sites, sending its share price soaring by as much as 15%. The company announced the acquisition of brownfield sites in Hawesville, Kentucky, and Charles County, Maryland, which together add approximately 1.5 gigawatts (GW) of power capacity to its portfolio.
The immediate market reaction was strongly positive, with WULF shares reaching an intraday high of $15.58 following the news. This surge, initially reported as a 12% gain, underscores investor confidence in the company's ability to scale its operations by securing critical energy infrastructure.
The Kentucky site, a former industrial property spanning over 250 acres, offers immediate access to high-voltage transmission lines and an on-site substation, with roughly 480 MW of power currently available. The Maryland acquisition is the Morgantown Generating Station, a grid-connected facility providing about 210 MW of operating capacity with potential for expansion up to 1 GW. These additions boost TeraWulf's total controlled capacity to approximately 2.8 GW across five facilities, solidifying its position among top-tier public Bitcoin miners.
Analysts highlight that securing such a large block of scalable, cost-effective power is a formidable achievement in the competitive mining landscape, especially ahead of the next Bitcoin halving. The company's focus on zero-carbon energy sources and strategic geographic diversification is seen as a calculated move for long-term viability and appeals to environmentally conscious investors.
