TeraWulf Announces Fluidstack Expansion with 160 MW CB-5 Lease at Lake Mariner
TeraWulf (Nasdaq: WULF) announced a significant expansion of its partnership with Fluidstack at its Lake Mariner data center campus. The expansion includes a new 160 MW CB-5 data center building, increasing total contracted capacity to over 360 MW of critical IT load.
The agreement represents $6.7 billion in contracted revenue, with potential to reach $16 billion with lease extensions. Google has increased its backstop to $3.2 billion and will receive warrants for 32.5 million shares, increasing its stake in TeraWulf to 14%. Operations at CB-5 are expected to commence in H2 2026.
TeraWulf (Nasdaq: WULF) ha annunciato un ampliamento significativo della collaborazione con Fluidstack presso il campus del data center Lake Mariner. L鈥檈spansione comprende un nuovo edificio data center CB-5 da 160 MW, portando la capacit脿 contrattata totale a oltre 360 MW di carico IT critico.
L鈥檃ccordo rappresenta 6,7 miliardi di dollari di ricavi contrattati, con la possibilit脿 di arrivare a 16 miliardi tramite estensioni dei contratti di locazione. Google ha aumentato il proprio backstop a 3,2 miliardi di dollari e ricever脿 warrant per 32,5 milioni di azioni, portando la propria partecipazione in TeraWulf al 14%. L鈥檃vvio delle operazioni di CB-5 猫 previsto per la seconda met脿 del 2026.
TeraWulf (Nasdaq: WULF) anunci贸 una expansi贸n significativa de su asociaci贸n con Fluidstack en el campus del centro de datos Lake Mariner. La expansi贸n incluye un nuevo edificio de centro de datos CB-5 de 160 MW, elevando la capacidad contratada total a m谩s de 360 MW de carga inform谩tica cr铆tica.
El acuerdo representa 6.700 millones de d贸lares en ingresos contratados, con potencial de alcanzar 16.000 millones mediante extensiones de arrendamiento. Google increment贸 su backstop a 3.200 millones de d贸lares y recibir谩 warrants por 32,5 millones de acciones, aumentando su participaci贸n en TeraWulf al 14%. Se espera que las operaciones de CB-5 comiencen en la segunda mitad de 2026.
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鞚措矆 瓿勳暯鞚� 67鞏� 雼煬鞚� 瓿勳暯 靾橃澋鞐� 頃措嫻頃橂┌, 鞛勲寑 鞐办灔 鞁� 160鞏� 雼煬旯岇 頇曤寑霅� 臧�電レ劚鞚� 鞛堨姷雼堧嫟. 甑竴鞚� 氚膘姢韱膘潉 32鞏� 雼煬搿� 電橂牳鞙茧┌ 3,250毵� 欤检棎 雽�頃� 鞗岆煱韸鸽ゼ 氚涭晞 TeraWulf 歆�攵勳潉 14%搿� 雴掛瀰雼堧嫟. CB-5鞚� 鞖挫榿鞚� 2026雲� 頃橂皹旮�鞐� 鞁滌瀾霅� 鞓堨爼鞛呺媹雼�.
TeraWulf (Nasdaq: WULF) a annonc茅 une importante extension de son partenariat avec Fluidstack sur le campus du centre de donn茅es Lake Mariner. L鈥檈xpansion comprend un nouveau b芒timent de centre de donn茅es CB-5 de 160 MW, portant la capacit茅 contract茅e totale 脿 plus de 360 MW de charge IT critique.
L鈥檃ccord repr茅sente 6,7 milliards de dollars de revenus contract茅s, avec un potentiel d鈥檃tteindre 16 milliards gr芒ce 脿 des prolongations de bail. Google a augment茅 son backstop 脿 3,2 milliards de dollars et recevra des bons de souscription pour 32,5 millions d鈥檃ctions, portant sa participation dans TeraWulf 脿 14%. Les op茅rations de CB-5 devraient d茅buter au second semestre 2026.
TeraWulf (Nasdaq: WULF) gab eine erhebliche Ausweitung seiner Partnerschaft mit Fluidstack auf dem Lake Mariner Rechenzentrumscampus bekannt. Die Erweiterung umfasst ein neues 160-惭奥-颁叠-5-搁别肠丑别苍锄别苍迟谤耻尘蝉驳别产盲耻诲别 und erh枚ht die insgesamt vertraglich zugesicherte Kapazit盲t auf 眉ber 360 MW kritische IT-Last.
Die Vereinbarung stellt 6,7 Milliarden US-Dollar an vertraglichen Einnahmen dar, mit dem Potenzial, durch Mietverl盲ngerungen 16 Milliarden zu erreichen. Google hat seinen Backstop auf 3,2 Milliarden US-Dollar erh枚ht und erh盲lt Optionsscheine f眉r 32,5 Millionen Aktien, wodurch sein Anteil an TeraWulf auf 14% steigt. Der Betrieb von CB-5 soll in der Zweiten H盲lfte 2026 beginnen.
- Secured $6.7 billion in contracted revenue with potential to reach $16 billion
- Google increased financial backstop by $1.4 billion to $3.2 billion total
- Strategic partnership strengthened with Google increasing stake to 14%
- Significant capacity expansion of 160 MW with CB-5, bringing total to over 360 MW
- Ongoing discussions for additional capacity expansions with Fluidstack
- Operations at CB-5 won't commence until second half of 2026
- Potential dilution from 32.5 million share warrants issued to Google
Insights
TeraWulf secures major 160MW data center expansion with Fluidstack, backed by Google's $1.4B commitment, dramatically strengthening recurring revenue and strategic positioning.
TeraWulf's announcement represents a significant strategic expansion of its AI infrastructure footprint. The new 160MW CB-5 facility increases total contracted capacity with Fluidstack to over 360MW, positioning Lake Mariner as one of the largest high-performance computing campuses in the United States. This expansion isn't merely about physical growth鈥攊t translates directly to
The financial structure is particularly noteworthy. Google's increased backstop to
What's most telling is Fluidstack's rapid expansion decision following their initial agreement, suggesting exceptionally strong demand for AI-optimized computing infrastructure. The expansion maintains consistent economics with the initial leases, indicating TeraWulf has established favorable commercial terms across its portfolio. The purpose-built liquid-cooled design specifically optimized for dense AI workloads demonstrates TeraWulf's technical capabilities in a highly specialized infrastructure segment where demand significantly outstrips supply.
With operations expected to commence in H2 2026, this expansion substantially increases TeraWulf's long-term contracted revenue base while deepening relationships with key strategic partners in the AI ecosystem. The ongoing discussions regarding additional capacity suggest this expansion may represent just the beginning of a much larger growth trajectory for TeraWulf's infrastructure platform.
Total Contracted Capacity Increases to Over 360 MW of Critical IT Load
Represents
Google Increases Backstop to
TeraWulf and Fluidstack Engaged in Discussions Regarding Additional Capacity
EASTON, Md., Aug. 18, 2025 (GLOBE NEWSWIRE) -- TeraWulf Inc.聽(Nasdaq: WULF) (鈥淭eraWulf鈥� or the 鈥淐ompany鈥�), a leading owner and operator of vertically integrated, predominantly zero-carbon digital infrastructure, today announced that Fluidstack, a premier AI cloud platform, has exercised its option to expand at the Company鈥檚 Lake Mariner data center campus in Western New York. The expansion adds CB-5, a new purpose-built data center building providing an incremental 160 MW of critical IT load, with operations expected to commence in the second half of 2026.
In connection with the new CB-5 lease, Google will provide an incremental backstop of
The CB-5 lease is on the same economic terms as the initial Fluidstack leases for CB-3 and CB-4, maintaining consistency in structure and economics across the buildout.
Strategic Expansion at Lake Mariner
The CB-5 expansion builds on the previously announced agreements under which TeraWulf is delivering more than 200 MW of AI-optimized data center capacity to Fluidstack at Lake Mariner. With CB-5, total contracted critical IT load for Fluidstack at the campus increases to approximately 360 MW, reinforcing Lake Mariner鈥檚 position as one of the largest high-performance computing (HPC) campuses in the U.S. TeraWulf and Fluidstack are also engaged in ongoing discussions regarding additional capacity expansions.
Leadership Commentary
鈥淭his expansion underscores the unmatched scale and capabilities of the Lake Mariner campus,鈥� said Paul Prager, Chief Executive Officer of TeraWulf. 鈥淏y adding CB-5, we are not only increasing our contracted capacity with Fluidstack, but also further deepening our strategic alignment with Google as a critical financial partner in delivering the next generation of AI infrastructure.鈥�
鈥淭his expansion not only scales our contracted platform but reinforces TeraWulf鈥檚 leadership in the AI and HPC infrastructure ecosystem, delivering globally competitive, sustainable, and scalable compute solutions,鈥� added Prager.
鈥淔luidstack鈥檚 decision to expand so soon after our initial agreement speaks volumes about the quality, readiness, and scalability of our infrastructure,鈥� said Nazar Khan, Chief Technology Officer of TeraWulf. 鈥淟ike the prior buildings, CB-5 will be purpose-built for high-density, liquid-cooled workloads, leveraging Lake Mariner鈥檚 dual 345 kV transmission lines, sustainable water cooling, and ultra-low-latency connectivity. And with the scale, resources, and infrastructure we have in place, there is significant potential for even further expansion with Fluidstack as their compute requirements continue to grow.鈥�
About TeraWulf
TeraWulf develops, owns, and operates environmentally sustainable, industrial-scale data center infrastructure in the United States, purpose-built for high-performance computing (HPC) hosting and bitcoin mining. Led by a team of veteran energy infrastructure entrepreneurs, TeraWulf is committed to innovation and operational excellence, with a mission to lead the market in large-scale digital infrastructure by serving both its own compute requirements and those of top-tier HPC clients as a trusted hosting partner.
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Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the 鈥渟afe harbor鈥� provisions of the Private Securities Litigation Reform Act of 1995, as amended. Such forward-looking statements include statements concerning anticipated future events and expectations that are not historical facts. All statements, other than statements of historical fact, are statements that could be deemed forward-looking statements. In addition, forward-looking statements are typically identified by words such as 鈥減lan,鈥� 鈥渂elieve,鈥� 鈥済oal,鈥� 鈥渢arget,鈥� 鈥渁im,鈥� 鈥渆xpect,鈥� 鈥渁nticipate,鈥� 鈥渋ntend,鈥� 鈥渙utlook,鈥� 鈥渆stimate,鈥� 鈥渇orecast,鈥� 鈥減roject,鈥� 鈥渟eek,鈥� 鈥渃ontinue,鈥� 鈥渃ould,鈥� 鈥渕ay,鈥� 鈥渕ight,鈥� 鈥減ossible,鈥� 鈥減otential,鈥� 鈥渟trategy,鈥� 鈥渙pportunity,鈥� 鈥減redict,鈥� 鈥渟hould,鈥� 鈥渨ould鈥� and other similar words and expressions, although the absence of these words or expressions does not mean that a statement is not forward-looking. Forward-looking statements are based on the current expectations and beliefs of TeraWulf鈥檚 management and are inherently subject to a number of factors, risks, uncertainties and assumptions and their potential effects. There can be no assurance that future developments will be those that have been anticipated. Actual results may vary materially from those expressed or implied by forward-looking statements based on a number of factors, risks, uncertainties and assumptions, including, among others: (1) the ability to mine bitcoin profitably; (2) our ability to attract additional customers to lease our HPC data centers; (3) our ability to perform under our existing data center lease agreements; (4) changes in applicable laws, regulations and/or permits affecting TeraWulf鈥檚 operations or the industries in which it operates; (5) the ability to implement certain business objectives, including its bitcoin mining and HPC data center development, and to timely and cost-effectively execute related projects; (6) failure to obtain adequate financing on a timely basis and/or on acceptable terms with regard to expansion or existing operations途 (7) adverse geopolitical or economic conditions, including a high inflationary environment, the implementation of new tariffs and more restrictive trade regulations; (8) the potential of cybercrime, money-laundering, malware infections and phishing and/or loss and interference as a result of equipment malfunction or break-down, physical disaster, data security breach, computer malfunction or sabotage (and the costs associated with any of the foregoing)途 (9) the availability and cost of power as well as electrical infrastructure equipment necessary to maintain and grow the business and operations of TeraWulf; (10) operational and financial risks associated with the expansion of the Lake Mariner data center; and (11) other risks and uncertainties detailed from time to time in the Company鈥檚 filings with the Securities and Exchange Commission (鈥淪EC鈥�). Potential investors, stockholders and other readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date on which they were made. TeraWulf does not assume any obligation to publicly update any forward-looking statement after it was made, whether as a result of new information, future events or otherwise, except as required by law or regulation. Investors are referred to the full discussion of risks and uncertainties associated with forward-looking statements and the discussion of risk factors contained in the Company鈥檚 filings with the SEC, which are available at www.sec.gov.
FAQ
What is the value of TeraWulf's new CB-5 lease agreement with Fluidstack?
How much capacity will TeraWulf's CB-5 data center add at Lake Mariner?
What is Google's new stake in TeraWulf (WULF) after the CB-5 agreement?
When will TeraWulf's CB-5 data center begin operations?
How much financial backing is Google providing to TeraWulf for the expansion?
