TeraWulf (WULF) said Tuesday it has acquired a hyperscale high-performance computing development site in Eastern Kentucky from Industrial Equity Partners.

Financial terms were not provided.

The Muskie Data Campus is expected to eventually support more than a gigawatt of data center capacity, with an initial 500 megawatts expected to begin ramping up in H2 2028 and the rest in H2 2030, the company said.

The site includes around 285 acres of land with optional adjacent space for possible future expansion, the company said.

Shares of TeraWulf were rising more than 9% in premarket activity Tuesday.