TeraWulf doubles Muskie campus contracted power to 1 GW; second 500 MW phase moved up to 2029

TERAWULF INC.

DB Long Hunts Data LLC signed amended & restated transmission/energy agreements with Kentucky Power (AEP), lifting Muskie Data Campus contracted capacity from 500 MW to 1 GW.
Second 500 MW phase delivery advanced from 2030 to 2029, subject to Kentucky Public Service Commission approval; first 500 MW phase still targeted to ramp in 2028.
TeraWulf acquired Muskie in May 2026 for phased AI/HPC development and is evaluating the site for up to 2 GW over time; Kentucky Power is building a 765-kV/345-kV substation to serve it.
Financing strategy: intends to upsize its existing senior secured revolving credit facility and raise additional senior secured debt to support letter of credit needs.
Development proceeds under Gov. Beshear's Executive Order on Data Center Development (2026-494); Kentucky PSC in August approved the separate Justified Data Campus power agreement.

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