TeraWulf (WULF) shares traded lower Tuesday. Governor Kathy Hochul signed an executive order establishing a one-year moratorium on new hyperscale data centers.
The order halts new environmental permits for facilities exceeding 20 megawatts of peak energy demand. This restriction specifically targets large-scale operations including cryptocurrency mining.
New York officials will use the pause to develop a regulatory framework for environmental and grid impacts.
Analysts expect the moratorium to spare TeraWulf’s current capacity at its Lake Mariner facility. The executive action creates uncertainty regarding the company's future expansion plans within the state.