TeraWulf and Fluidstack form 25-year HPC joint venture for 168 MW critical IT load at Abernathy, TX, expected H2 2026
Tuesday, October 28, 2025 8:06:34 AMEST
- Contracted revenue ~$9.5B; TeraWulf holds 51% majority stake.
- Google backstops $1.3B of Fluidstack’s long-term lease obligations for project debt.
- Exclusive right for TeraWulf to partner on next ~168 MW Fluidstack project.
- HPC platform now >510 MW; growth strategy targets 250–500 MW new contracted capacity annually.
- JV can expand beyond initial 168 MW using existing infrastructure.
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- Google backstops $1.3B of Fluidstack’s long-term lease obligations for project debt.
- Exclusive right for TeraWulf to partner on next ~168 MW Fluidstack project.
- HPC platform now >510 MW; growth strategy targets 250–500 MW new contracted capacity annually.
- JV can expand beyond initial 168 MW using existing infrastructure.