TeraWulf Inc. has executed an amended and restated electric service agreement with Kentucky Power, an American Electric Power company, to increase the contracted power capacity at its Muskie Data Campus in eastern Kentucky.
The agreement, executed on October 1, 2026, raises the total contracted capacity from 500 megawatts to 1 gigawatt. The expansion includes advancing the planned delivery of a second 500 MW phase from 2030 to 2029. This timeline is contingent upon approval from the Kentucky Public Service Commission and Kentucky Power’s construction schedule.
The first 500 MW phase at Muskie remains targeted to begin ramping in 2028. The development will proceed in accordance with Governor Beshear’s Executive Order on Data Center Development (2026-494). Kentucky Power is currently developing a 765-kV/345-kV substation connected to the regional transmission network to serve the site.
In connection with the development of its data center campuses, TeraWulf intends to increase the size of its existing senior secured revolving credit facility. The company is also seeking to raise additional senior secured debt to support letter of credit needs related to its long-term power development partnerships with utilities. The company notes that the upsize of the revolving credit facility is subject to customary closing conditions and there can be no assurance that additional financing will be obtained.
