TeraWulf–Fluidstack 200 MW hosting, Google backstop
TeraWulf signed two 10-year colocation deals with Fluidstack for over 200 MW of IT load at Lake Mariner, New York, worth about $3.7 billion. Google backstops $1.8 billion of Fluidstack's lease obligations and got warrants for about 8% of TeraWulf.
What the value means
About $3.7 billion contracted revenue over initial 10-year terms; about $8.7 billion with two five-year extensions. Google backstop $1.8 billion. Expanded 18 Aug 2025 with a 160 MW CB-5 lease: ~360 MW and $6.7 billion contracted in total, Google's backstop ~$3.2 billion and stake ~14%.
The record
Verified 9 Nov 2026- Announced
- Buyer
- Fluidstack
- Seller / provider
- TeraWulf
- ValueHeadline dollar value exactly as stated in the cited source.
- 3,700,000,000 USD
- Capacity
- 0.2 GW
- Accelerators
- Not disclosed
- Chips
- Not named
- Term
- 10 years
- StatusAdds to an existing relationship
- expanded
- Other parties
- Google (backstop; warrants for ~41 million TeraWulf shares, ~8% pro forma)
- Deal type
- datacenter-lease, backstop, equity-for-compute
Sources
2- TeraWulf 8-K Exhibit 99.1 (SEC) read 2026-11-09
- TeraWulf Announces Fluidstack Expansion with 160 MW CB-5 Lease, 8-K Ex. 99.1 (SEC) read 2026-11-09
Cite this deal
AI Compute Deals, “TeraWulf–Fluidstack 200 MW hosting, Google backstop”, https://aicomputedeals.com/terawulf-fluidstack-google-2025-08/ (verified 2026-11-09).
Data under CC BY 4.0. Download the full ledger.
Every deal for Fluidstack and TeraWulf.