In today’s Bitcoin news, TeraWulf just made the most outspoken statement about the future of Bitcoin mining that a publicly traded miner has ever made with a real estate transaction. The Maryland-based Bitcoin mining company announced Tuesday that it has acquired the Muskie Data Campus, a 285-acre site located in the EastPark industrial park in eastern Kentucky, and plans to build more than a gigawatt of AI data center capacity there.
To put it plainly: one gigawatt can power around 750,000 homes, and TeraWulf directs every watt toward artificial intelligence, not Bitcoin. WULF stock jumped +9% on the announcement, hitting $25.92 intraday, its highest price in 12 months.
Here’s the central tension this article uncovers: TeraWulf doesn’t just add AI as a side business. Its Bitcoin mining revenue fell 50% in the first quarter of 2026, while AI computing revenue jumped 117% quarter-over-quarter to $21 million, accounting for 60% of total revenue.
For the first time ever, AI revenue has surpassed Bitcoin mining revenue at TeraWulf. The BTC pivot is no longer a strategic document. This is a financial reality that is already reflected in the figures.
(SOURCE: Yahoo Finance)
Bitcoin News Today: TeraWulf’s Kentucky Pivot and What Quitting BTC Mining Really Means
TeraWulf’s acquisition of the Muskie Data Campus from Industrial Equity Partners provides a significant development pipeline, with 500 MW of AI data center capacity expected to come online in late 2028 and an additional 500 MW by 2030.
This is huge Bitcoin news today, with Kentucky Power building a 345kV substation connected to a 765kV transmission network, a crucial investment in energy infrastructure.
TeraWulf CEO Paul Prager points out that power and transmission infrastructure are now the main constraints in the market, leading AI companies to pay premiums for the capacity of legacy Bitcoin miners.
This expansion marks TeraWulf’s second major presence in Kentucky, alongside its existing 480-megawatt Justified Data campus in Hancock County.
This shift in focus includes a $3.7 billion deal with AI cloud provider FluidStack that could reach $8.7 billion over 20 years, backed by a $1.3 billion commitment from Google for lease obligations at TeraWulf’s AI campus in Texas.
In this context, the net loss of $427 million in the first quarter of 2026, compared to $61.4 million in the first quarter of 2025, reflects heavy capital expenditures related to the transition rather than an operational collapse. But it’s a number that requires the attention of everyone who owns WULF stock.
$WULF acquired the 1+ GW Muskie Data Campus in Eastern Kentucky, expanding its AI/HPC infrastructure pipeline.
The site is expected to support 500 MW from 2H 2028, with an additional 500 MW targeted for 2H 2030.
The campus includes 285 acres, planned access to a 345 kV substation,… pic.twitter.com/vvat4CHj7J
– Wall Street Engine (@wallstengine) May 26, 2026
Is Bitcoin mining dying? Is TeraWulf just the first domino?
TeraWulf isn’t the only one changing direction; IREN, MARA Holdings and Hive Digital Technologies are also moving into AI and high-performance computing.
The 2024 Bitcoin halving reduced block rewards from 6.25 BTC to 3.125 BTC, cutting miner revenue in half while electricity costs remained unchanged.
AI hosting offers more stable, contract-based revenue per megawatt, making it a more attractive option compared to volatile mining rewards.
This shift reflects a broader trend of crypto infrastructure companies adapting to external economic pressures. Unlike Bitcoin, AI data centers remain profitable regardless of cryptocurrency price fluctuations, making this shift attractive and sustainable.
Core Scientific also entered into a significant agreement with CoreWeave for AI hosting capacity, illustrating the realignment of energy resources from ASIC mining to GPU usage.
While some, like MicroStrategy, continue to focus on Bitcoin accumulation, TeraWulf presents a different approach by moving its infrastructure away from Bitcoin.
(SOURCE: CompanyMarketCap.com)
Where is the real opportunity in this change?
Not only is the TeraWulf story big news for Bitcoin today, but it also highlights a key reality: energy infrastructure is now a critical asset. Control, whether for Bitcoin mining or AI data centers, provides significant leverage.
Early-stage projects at the intersection of blockchain and AI computing are attracting serious investment because this convergence is still in its infancy.
TeraWulf’s 1 gigawatt investment in Kentucky demonstrates smart capital’s recognition of the value of energy infrastructure. The future of Bitcoin mining will depend on whether the BTC economy can compete with reliable revenue from AI hosting.
This is a competition they currently cannot win. Keep an eye on the completion of the Abernathy, Texas, AI campus in late 2026 and TeraWulf’s second-quarter revenue for insight into this changing landscape.
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The article Bitcoin News Today: Is Mining Dying as TeraWulf Abandons Miners appeared first on 99Bitcoins.
