TeraWulf Announces Two 10-Yr High-Performance Computing Colocation Agreements With Fluidstack; Transaction Anchors ~$3.7B In Contracted Revenues, With Potential To Reach $8.7B

Further Establishes TeraWulf as a Leading Provider of Hyperscale AI Infrastructure, Backed by Tier 1 Counterparties

Transaction Anchors ~$3.7 Billion in Contracted Revenues, with Potential to Reach $8.7 Billion

Through Lease Extensions

Google Backstops $1.8 Billion of Fluidstack Obligations in Support of Project Debt and

Receives ~8% Equity Stake in TeraWulf

Fluidstack Granted 30-day Exclusivity for CB-5, Adding Potential 160 MW of Critical IT Load

EASTON, Md., Aug. 14, 2025 (GLOBE NEWSWIRE) -- TeraWulf Inc. (NASDAQ:WULF) ("TeraWulf" or the "Company"), a leading owner and operator of vertically integrated, predominantly zero-carbon digital infrastructure, today announced two 10-year high-performance computing (HPC) colocation agreements with Fluidstack, a premier AI cloud platform that builds and operates HPC clusters for some of the world's largest companies.

Under the agreements, TeraWulf will deliver more than 200 MW of critical IT load (representing ~250 MW of gross capacity) at its Lake Mariner data center campus in Western New York. Purpose-built for liquid-cooled AI workloads, the facility is engineered to meet the scale, density and resiliency required for next-generation compute.

The agreements represent approximately $3.7 billion in contracted revenue over the initial 10-year terms and include two five-year extension options which, if exercised, would bring the total contract revenue to approximately $8.7 billion.

To support the buildout, Google will backstop $1.8 billion of Fluidstack's lease obligations to support project-related debt financing and will receive warrants to acquire approximately 41 million shares of TeraWulf common stock, equating to an approximately 8% pro forma equity ownership stake—aligning TeraWulf with one of the most influential global AI partners.  TeraWulf also plans to access the capital markets to fund a portion of the project.