TeraWulf Says Its Construction Agreement for Three Data Center Buildings Establishes Defined Delivery Milestones

On November 4, 2026, TeraWulf announced credit support agreements and a construction agreement for its Justified Data Campus in Hawesville, Kentucky, in a release on its own site. The credit support agreements are with another company, which the release says provides "contractual credit support for anticipated debt financing" of the campus; it ties that financing to approximately $19 billion of contracted lease commitments with a tenant there. Parts of the release follow, not the whole.

The Contract and Its Scope

TeraWulf says it executed a definitive engineering, procurement and construction agreement, an EPC agreement, with a construction company "on a GMP-basis for the development of Justified." It covers engineering, procurement and construction activities for three data center buildings at the campus, "building on the limited notice to proceed announced in March 2026."

The agreement, the release says, advances the contractor's role from early engineering and pre-construction "to a comprehensive scope encompassing engineering, procurement, construction, testing and commissioning." It "establishes defined delivery milestones, open-book cost reporting, procurement oversight and contractual performance protections."

"Guaranteed maximum pricing is being established in accordance with the agreement as engineering and procurement progress."

The milestones are defined, and the guaranteed maximum pricing is still being established.

Labor, Milestones and Power

Through the contractor, TeraWulf says, it gains access to engineering resources, procurement capabilities and an "established network of subcontractors and skilled labor." The release adds that "As labor availability becomes an increasingly important constraint on large-scale data center development," the contractor's long experience provides execution depth and flexibility. The chief executive says the contractor's "access to skilled labor" complements the company's own team.

"Under the EPC milestone schedule, phased ready-for-service completions are expected to begin in late 2027 and continue through the second quarter of 2028."

The Justified milestones, the release says, "follow TeraWulf's recent expansion of contracted power capacity to 1 GW at its Muskie Data Campus in eastern Kentucky."

The release gives a window for buildings ready for service at Justified. It gives no date here for the power behind them.