TeraWulf Secures 482 MW Hawesville Site for $200M Data Center Campus
TeraWulf closed purchase of the Hawesville aluminum smelter site from Century Aluminum for $200 million in cash, securing 482 MW of power capacity for its planned data center campus. The site, slated to power AI and high-performance computing workloads, is targeted to be operational in the second half of 2027.
1. Acquisition Details
TeraWulf completed the $200 million cash acquisition of Century Aluminum’s Hawesville smelter site, gaining control of 482 megawatts of grid power capacity. Under the sale, Century retained a 6.8% non-dilutive stake with a one-year put option once data center operations commence.
2. Power Capacity and Infrastructure
The Hawesville location offers 482 MW of immediately available power, driven by surplus Midcontinent Independent System Operator (MISO) supplies. TeraWulf is finalizing an enabling power contract with the regional utility to secure cost-effective, high-reliability energy for computing loads.
3. Data Center Development Plans
TeraWulf plans to develop a high-performance computing and AI campus leveraging existing substations and transmission lines. Management projects the first data center modules could be online in H2 2027, targeting hyperscale lease agreements to maximize utilization.
4. Financial and Operational Implications
This acquisition marks TeraWulf’s strategic diversification into digital infrastructure, adding a stable revenue stream beyond crypto mining. The all-cash deal avoids shareholder dilution, and the put option offers Century an exit mechanism, while strong demand for AI workloads underpins long-term economics.