The context: Building AI data centers remains a multi-year effort, with labor becoming a major execution challenge.
- Prager said the Kentucky facility is expected to come online beginning in 2028 and that TeraWulf has hired Fluor to help build the project.
- He said securing a skilled workforce and contractors is a bigger challenge than purchasing equipment as large-scale AI installations become increasingly specialized.
- Prager said proximity to reliable power remains the most important requirement for AI customers.
Read between the lines: TeraWulf says Bitcoin mining is no longer part of its long-term strategy.
- Prager said the company initially got into Bitcoin mining because it already owned electrical assets and mining offered a flexible electricity customer.
- He said Bitcoin’s commodity-focused revenue model did not provide the predictable, long-term cash flow the company prefers.
- “We are not involved in Bitcoin,” Prager said, describing AI infrastructure as a more natural fit for TeraWulf’s business.
To have : Prager argued that the AI infrastructure boom is limited by power quality rather than available land.
- He said the United States was facing a power shortage and warned investors that “not all megawatts are created equal.”
- Prager said successful AI campuses require reliable generation, redundant transmission, supportive regulation and strong community relationships.
- He added that TeraWulf is focused on redeveloping old industrial sites and, where necessary, adding new power generation to support both AI facilities and the broader power grid.
