Terawulf CEO on recent deals: Represents chance to meet energy demand needs from hyperscalers

Watch on YouTube ↗  |  February 03, 2026 at 20:11  |  4:52  |  CNBC
Speakers
Paul Prager — CEO, Terawulf
Brian Sullivan — Anchor, CNBC (Last Call / Power Lunch)

Summary

Paul Prager, founder and CEO of TeraWulf, discusses the company's acquisition of two power/industrial sites in Kentucky and Maryland, doubling its power pipeline to serve data-center customers. He highlights urgent hyperscaler demand for available power, the move toward bring-your-own-generation, and TeraWulf's co-location financing model. Prager also touches on Google's stake, potential customer talks, and the nascent idea of space-based data centers.

  • TeraWulf is doubling its power pipeline with two new sites.
  • Hawesville, Kentucky, offers near-term 480MW and scalability.
  • Morgantown, Maryland, is an existing power plant being repowered near Northern Virginia.
  • Management cites urgent hyperscaler demand for power and bring-your-own-generation.
  • TeraWulf expects about $1.5 million in revenue per megawatt.
  • Google is a significant shareholder; customer talks are ongoing.
  • Space-based data centers are seen as too early to assess.
Ideas
Paul Prager CEO, Terawulf 0:24
TeraWulf doubles power pipeline for data centers.
TeraWulf is doubling its power pipeline by acquiring two sites: Hawesville, Kentucky, an industrial site with near-term access to 480MW and room to scale, and Morgantown, Maryland, an existing power plant near the Northern Virginia data-center corridor that it will repower to add 500MW plus 250MW of battery storage in phase one and another 500MW plus 250MW in phase two, targeting up to a gigawatt of data-center load. Management sees urgent hyperscaler demand for available power, expects about $1.5 million in revenue per megawatt, prefers hyperscaler customers because co-location lets it finance facilities on the customer's credit, and argues TeraWulf's 30 years of power-plant development makes it uniquely positioned for the bring-your-own-generation shift.
WULF HIGH
Paul Prager CEO, Terawulf 1:23
Power demand from hyperscalers is urgent.
Hyperscalers are urgently demanding available power now, with management saying they are 'screaming for it,' and Maryland imports 40% of its electricity and needs more supply. The market is moving toward bring-your-own-generation, creating a supportive backdrop for power and energy infrastructure.
POWER MED
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This CNBC video, published February 03, 2026, features Paul Prager discussing WULF, POWER. 2 trade ideas extracted by AI with direction and confidence scoring.

Speakers: Paul Prager  · Tickers: WULF, POWER