Bitcoin miner Terawulf announced on Aug. 14 that it has entered into two ten-year high-performance computing colocation agreements with AI cloud platform Fluidstack. Financial and Corporate Backing Bitcoin miner Terawulf announced on Aug. 14 that it had entered two 10-year high-performance computing (HPC) colocation agreements with artificial intelligence (AI) cloud platform Fluidstack. As part of […]Bitcoin miner Terawulf announced on Aug. 14 that it has entered into two ten-year high-performance computing colocation agreements with AI cloud platform Fluidstack. Financial and Corporate Backing Bitcoin miner Terawulf announced on Aug. 14 that it had entered two 10-year high-performance computing (HPC) colocation agreements with artificial intelligence (AI) cloud platform Fluidstack. As part of […]

Terawulf Secures $3.7B AI Hosting Deal With Fluidstack, Backed by Google

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Bitcoin miner Terawulf announced on Aug. 14 that it has entered into two ten-year high-performance computing colocation agreements with AI cloud platform Fluidstack.

Financial and Corporate Backing

Bitcoin miner Terawulf announced on Aug. 14 that it had entered two 10-year high-performance computing (HPC) colocation agreements with artificial intelligence (AI) cloud platform Fluidstack. As part of the agreement, Terawulf is expected to deliver more than 200 MW of critical IT load at its Lake Mariner data center campus located in Western New York.

According to a press release, the financial implications of these agreements are substantial, with an estimated $3.7 billion in contracted revenue over the initial 10-year terms. Furthermore, there are options for two five-year extensions that could potentially increase the total contract revenue to around $8.7 billion.

To facilitate the project, tech giant Google has committed to backstopping $1.8 billion of Fluidstack’s lease obligations, which will support project-related debt financing. In exchange, the tech giant will receive warrants to acquire approximately 41 million shares of Terawulf common stock, representing about an 8% pro forma equity ownership stake. This partnership aligns Terawulf with one of the most influential players in the global AI landscape.

Remarking on what the agreement means for his company, Paul Prager, CEO of Terawulf, said:

César Maklary, co-founder and President of Fluidstack, said the partnership with Terawulf “reflects our shared commitment to delivering rapid, scalable infrastructure for the AI frontier.”

As per the press release, deployment of this project is set to occur in phases, with the first phase — approximately 40 MW of critical IT load — expected to go live in the first half of 2026. The full capacity of more than 200 MW is anticipated to be operational by the end of 2026, providing significant near-term capacity to Fluidstack.

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