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# TeraWulf Doubles Muskie Power Contract To 1 Gigawatt And Moves Phase Two Up A Year
- URL: https://www.bullished.co/terawulf-doubles-muskie-power-contract-to-1-gigawatt-and-moves-phase-two-up-a-year-cd293409/
- Published: 2026-10-05T12:36:07.000Z
- Updated: 2026-10-05T12:36:07.000Z
- Description: An 8-K also says TeraWulf plans to enlarge its secured revolving credit facility and is seeking more senior secured debt.
- Author: Matteo Parrino
- Tags: SEC Filings, WULF, Industry: Technology

TeraWulf doubled the power it has contracted at its Muskie Data Campus in eastern Kentucky, from 500 megawatts to [1 gigawatt](https://www.sec.gov/Archives/edgar/data/0001083301/000162828026064757/wulf-20261001.htm?ref=bullished.co), under amended agreements with Kentucky Power, an American Electric Power company. The 8-K, filed Monday, also pulls the second 500 MW phase forward from 2030 to 2029.

## What the 8-K says

TeraWulf's subsidiary DB Long Hunts Data LLC signed amended and restated transmission infrastructure and energy service agreements with Kentucky Power. The filing says they were executed October 1.

The earlier delivery date for the second phase is [subject to Kentucky Public Service Commission approval](https://www.sec.gov/Archives/edgar/data/0001083301/000162828026064757/wulf-20261001.htm?ref=bullished.co) and to Kentucky Power's construction schedule. The first 500 MW phase is still targeted to begin ramping in 2028.

The company also said it continues to evaluate whether the campus could support up to 2 GW over time, subject to more utility planning, infrastructure and agreements.

In the [press release](https://www.sec.gov/Archives/edgar/data/0001083301/000162828026064757/muskieexpansionpr.htm?ref=bullished.co), Chairman and CEO Paul Prager said "Customer interest in Muskie has been tremendous, and power availability is central to those conversations." Kentucky Power is developing a 765-kV / 345-kV substation, tied to the regional transmission network, to serve the site. The release says development will follow Governor Beshear's Executive Order on Data Center Development (2026-494).

## The financing line

The filing adds a financing update. TeraWulf intends to increase its existing senior secured revolving credit facility, the borrowing line backed by company assets. It is also seeking additional senior secured debt to cover letter-of-credit needs tied to its long-term power partnerships with utilities.

The upsize faces customary closing conditions, and the filing says there can be no assurance the company will obtain any additional financing. No amounts are given.

WULF traded at $15.50 in Monday pre-market trading, up 0.07% from Friday's close of $15.49 (market data).

## How Kentucky fits the strategy

TeraWulf bought Muskie in May 2026 for phased development as an AI and high-performance computing campus, according to the release. It describes its Kentucky approach as coordinating with the utility on infrastructure, offering financial protections for utility investment and structuring deals to benefit existing customers.

In August, Kentucky regulators approved a separate power agreement for the Justified Data Campus in Hawesville, finding it adequately protected existing customers and appropriately allocated costs and risks.

Two items are open: the commission's approval of the 2029 second phase, and whether TeraWulf closes the credit facility upsize and raises the extra secured debt.

### Sources

- [8-K Filing — TERAWULF INC. (WULF)](https://www.sec.gov/Archives/edgar/data/0001083301/000162828026064757/wulf-20261001.htm?ref=bullished.co) — SEC EDGAR
- [Exhibit muskieexpansionpr.htm — TERAWULF INC. 8-K exhibit](https://www.sec.gov/Archives/edgar/data/0001083301/000162828026064757/muskieexpansionpr.htm?ref=bullished.co) — SEC EDGAR