New Digital Infrastructure Campus to Be Built at Hawesville
Rhea-AI Summary
Century Aluminum (NASDAQ: CENX) announced the sale of its Hawesville, Kentucky site for redevelopment by TeraWulf (NASDAQ: WULF) into a digital infrastructure campus for high-performance computing and AI workloads. Century will retain a non-controlling minority equity stake and says the project is expected to create construction and permanent skilled jobs.
The company reiterated recent U.S. investments, including Mt. Holly expansion and a planned 750,000MT smelter in Inola, Oklahoma with Emirates Global Aluminium, and referred readers to its Form 8-K for transaction terms.
Positive
- Century retains a non-controlling minority equity stake in the Hawesville redevelopment
- Planned Hawesville redevelopment expected to create substantial construction and permanent skilled jobs
- Ties Hawesville site reuse to long-term regional economic activity
- Reiterated domestic expansion plans including Mt. Holly expansion and a 750,000MT smelter in Inola
Negative
- None.
News Market Reaction
On the day this news was published, CENX gained 4.39%, reflecting a moderate positive market reaction. Argus tracked a peak move of +14.5% during that session. Our momentum scanner triggered 10 alerts that day, indicating notable trading interest and price volatility. This price movement added approximately $203M to the company's valuation, bringing the market cap to $4.83B at that time.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Market Reality Check
Peers on Argus
CENX fell 7.36% while key peers like CSTM (-0.88%), AA (-2.79%), and KALU (-0.24%) saw smaller moves. MTRN (+0.01%) and NGVT (+1.11%) were flat-to-up, indicating today’s decline appears more company-specific than sector-driven.
Historical Context
| Date | Event | Sentiment | Move | Catalyst |
|---|---|---|---|---|
| Jan 26 | New smelter JV | Positive | -7.4% | Announced 750,000 tpy Inola smelter JV with EGA and major job creation. |
| Nov 06 | Q3 2025 earnings | Positive | +1.1% | Reported higher net sales, stronger adjusted EBITDA, and solid liquidity. |
| Oct 29 | Hurricane impact update | Positive | -2.1% | Jamalco restart after hurricane with no material damage or financial impact. |
| Oct 23 | Earnings call scheduling | Neutral | +3.4% | Set date and process details for upcoming Q3 2025 earnings release. |
| Oct 21 | Operational disruption | Negative | -9.5% | Electrical failure at Grundartangi cutting production by about two‑thirds. |
Recent history shows several instances where seemingly positive or neutral updates coincided with negative price reactions, alongside sharp selloffs on operational setbacks.
Over the past few months, Century Aluminum has reported multiple operational and strategic developments. A Oct 21, 2025 equipment failure in Iceland temporarily cut production by about two‑thirds, though insurance was expected to cover related losses. Subsequent earnings around Nov 6, 2025 highlighted higher sales but lower profits, with liquidity strengthened via new notes. In Jan 2026, the company announced a major joint development for a 750,000 tonne/year Inola smelter. Today’s Hawesville site sale and AI-focused redevelopment continue this theme of U.S.-centric investment and asset repositioning.
Market Pulse Summary
This announcement details the sale and redevelopment of the Hawesville site into a digital infrastructure campus focused on AI and high-performance computing, while Century retains a non-controlling minority stake. It fits alongside recent U.S. growth initiatives, including the planned 750,000MT Inola smelter. Investors may track execution on these projects, community and economic impacts, and any additional disclosures in the referenced Form 8-K.
Key Terms
digital infrastructure campus technical
high-performance computing technical
artificial intelligence workloads technical
form 8-k regulatory
AI-generated analysis. Not financial advice.
CHICAGO, Feb. 02, 2026 (GLOBE NEWSWIRE) -- Century Aluminum Company (NASDAQ: CENX) today announced the sale of the Hawesville, Kentucky site, which will be redeveloped by TeraWulf Inc. (NASDAQ:WULF) into a digital infrastructure campus supporting high-performance computing and artificial intelligence workloads. Century will retain a non-controlling minority equity stake, reflecting its continued interest in the site’s productive reuse and long-term benefits to the Hawesville community.
The redevelopment of the Hawesville site by TeraWulf is expected to create substantial new jobs, both construction and permanent skilled positions, and generate long-term economic activity for the region.
“We are very pleased to see the Hawesville site transition to productive use that will benefit Hawesville and the entire Commonwealth of Kentucky,” said Jesse Gary, Century’s President and Chief Executive Officer. “Our agreement allows us to remain connected to the project and supportive of the community as the site is redeveloped.”
The Hawesville redevelopment follows a series of other significant investments in the United States by Century. Century is already the largest producer of primary aluminum in the U.S. and, under President Trump’s leadership, has announced new investments in the last year that will more than double total U.S. domestic aluminum production. These investments include Century’s expansion of its Mt. Holly, South Carolina smelter and its new, cutting-edge 750,000MT smelter to be built in Inola, Oklahoma with partner Emirates Global Aluminium.
“Century is proud to be the largest producer of primary aluminum in the United States and is dedicated to continuing to invest domestically to meet the national security needs of the United States for this critical mineral,” Mr. Gary said.
Please see Century’s Form 8-K for information regarding the terms of the transaction.
BofA Securities served as exclusive financial advisor to Century. FBT Gibbons and Vedder served as legal counsel to Century.
About Century Aluminum Company
With its corporate headquarters located in Chicago, IL, Century Aluminum owns and operates primary aluminum smelting facilities in the United States and Iceland and is the majority owner and managing partner of the Jamalco alumina refinery in Jamaica. Visit www.centuryaluminum.com for more information.
Cautionary Statement
This press release and statements made by Century Aluminum Company and its management contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, which are subject to the "safe harbor" created by section 27A of the Securities Act of 1933, as amended (the "Securities Act"), and section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). Forward-looking statements are statements about future events and are based on our current expectations. Where we express an expectation or belief as to future events or results, such expectation or belief is expressed in good faith and believed to have a reasonable basis. Our forward-looking statements are based on current expectations and assumptions that are subject to risks and uncertainties which may cause actual results to differ materially from future results expressed, projected, or implied by those forward-looking statements. Although we have attempted to identify those material factors that could cause actual results or events to differ from those described in such forward-looking statements in our Annual Report on Form 10-K, our Quarterly Reports on Form 10-Q and in other filings made with the Securities and Exchange Commission, there may be other factors that could cause actual results or events to differ from those anticipated, estimated or intended. Many of these factors are beyond our ability to control or predict. Given these uncertainties, the reader is cautioned not to place undue reliance on our forward-looking statements. We undertake no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events, or otherwise.
Investors: Chad Rigg, 312.696.3132, investorrelations@centuryaluminum.com
Media: Tawn Earnest, 614.698.6351, tawn.earnest@centuryaluminum.com
FAQ
What did Century Aluminum (CENX) announce about the Hawesville site on February 2, 2026?
Will Century Aluminum (CENX) keep any ownership in the Hawesville project?
How will the Hawesville redevelopment affect local jobs and the economy, per Century Aluminum?
Who is redeveloping the Hawesville site and what will it support?
Does the Hawesville sale relate to Century Aluminum's other U.S. investments?
