TeraWulf secures zoning approval for NY data center

Core Insights - TeraWulf secured regulatory approval for its Lake Cayuga site, allowing the conversion of a former coal plant into a data center, resolving a zoning dispute that had previously stalled its plans [1][4] Group 1: Regulatory Approval - The Town of Lansing voted 3-2 to classify TeraWulf's facility as "general processing," enabling the company to proceed without further rezoning or variances [2] - Previous attempts to classify the site as a scientific research laboratory and a warehouse were rejected [2][3] Group 2: Impact on Company Operations - The approval resolves a core zoning dispute that has negatively impacted sentiment in recent months, allowing TeraWulf to advance planning and design for the site [4] - The company targets a capacity of 138 megawatts at the Lake Cayuga location by the end of 2026, with long-term plans for 400 megawatts by the end of 2027 [4] Group 3: Financial Developments - TeraWulf recently announced the pricing of $1.275 billion in senior secured notes due in 2030, issued through its Flash Compute joint venture with Fluidstack [5]