Kentucky Power, TeraWulf Finalize Expanded Agreement Providing for $100 Million in Customer Benefits
PR Newswire•05/10/2026•08:23 ET
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Key Highlights
- ➤TeraWulf demand doubled to 1 GW at Muskie Data campus, pending regulatory approval
- ➤$100 million in TeraWulf-funded winter bill credits planned for Kentucky Power residential customers
- ➤Second 500-MW Muskie phase moved forward from 2030 to 2029, subject to approval
- ➤TeraWulf to cover financing costs for Kentucky Power’s planned 760-MW Big Sandy plant
Expert Statements
Cindy Wiseman, president and chief operating officer of Kentucky Power
“At Kentucky Power, we are working to bring new businesses and economic opportunity to eastern Kentucky, creating meaningful benefits for the customers and communities we serve. By providing a decade's worth of direct residential bill credits, supporting critical energy infrastructure investments and helping ensure the costs associated with new demand are paid by the customers driving that growth, this agreement demonstrates how economic development can create lasting value for our customers and communities.”
Paul Prager, chairman and chief executive officer of TeraWulf
“This agreement shows how large-scale investment can support both economic growth and meaningful benefits for existing utility customers. Kentucky Power has been a strong partner in advancing Muskie's development. Expanding contracted power to 1 GW and bringing the second phase forward to 2029 positions us to meet strong customer demand and bring lasting investment to eastern Kentucky.”
Kentucky Power, TeraWulf Finalize Expanded Agreement Providing for $100 Million in Customer Benefits PR Newswire
ASHLAND, Ky., Oct. 5, 2026 /PRNewswire/ -- Kentucky Power has finalized an amended agreement that would double its contracted electric demand with TeraWulf Inc. (Nasdaq: WULF) while delivering significant long-term benefits for customers and communities across eastern Kentucky.
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