TeraWulf Shares Sink 5% Despite Doubling Kentucky Power Contract to 1GW

Key Facts

1TeraWulf doubled its electric supply contract at the Muskie campus in Kentucky to reach 1 gigawatt.

2TeraWulf shares fell 5% following the announcement, while Core Scientific dropped 3%.

TeraWulf shares fell 5% following the company's announcement that it has doubled its electric supply contract at the Muskie campus in Kentucky to reach 1 gigawatt. 247wallst.com reported that the expansion was finalized through an amended agreement with Kentucky Power to support the company's AI data center infrastructure.

WULF closed at $15.49 on October 2, 2026, while peer Core Scientific (CORZ) dropped 3% to close at $16.45 on the same date. The decline in shares of former crypto miners pivoting to AI services occurred alongside a broader retreat in digital infrastructure funds, despite gains in the wider equity market.