TeraWulf's stock dropped 5% after the company doubled its power contract to 1 gigawatt at its Muskie AI data center campus in Kentucky. The expansion, which also accelerates the second phase of the project, depends on regulatory approval and is years away from generating revenue. This delay, combined with broader sector pressure affecting similar firms like Core Scientific and Riot Platforms, has led investors to sell shares despite the long-term growth potential in AI infrastructure. The market is cautious as the increased capacity is not yet operational and revenue impact remains distant.
Following TeraWulf's announcement of doubling its Muskie power contract, its shares fell 4.45% to USD 14.80 on Pluang as of Oct 05, 2026 21:51 WIB. Core Scientific also declined 1.64% to USD 16.18, while Riot Platforms eased 2.28% to USD 19.28 during the same period. These movements reflect cautious trading in related tech and financial sectors on Pluang.
Kentucky Power has amended its agreement with TeraWulf to double the contracted electric demand from 500 MW to 1 GW at the Muskie Data campus in Kentucky. If approved, this deal will provide $100 million in winter bill credits to residential customer...
Shares of digital power companies like TeraWulf, IREN, and Cipher Digital rose sharply as they convert former crypto mining facilities into AI data centers. TeraWulf leads with a 7% increase, driven by a key long-term lease with AI developer Anthropi...
