TeraWulf Falls 7% After New York Imposes One-Year Moratorium on Data Center Permits

According to The Block, TeraWulf shares fell 7.08% to close at $19.41 on Tuesday after New York Governor Kathy Hochul signed an executive order imposing a temporary one-year pause on new large-scale data center permits. During this period, the state's Department of Public Service will develop regulatory standards for data centers, assessing environmental impacts including energy demand, water use, and air quality.

TeraWulf's chief strategy officer said the moratorium does not affect the company's Lake Hawkeye development or its already-operational Lake Mariner campus and expansions for Fluidstack and Google, both of which are fully permitted. CEO Paul Prager stated on X that the company is evaluating on-site power for Lake Hawkeye, which aligns with the governor's priorities.