The post Bitcoin Miner TeraWulf Lands $3.7B AI Hosting Win — With Google at the Table appeared on BitcoinEthereumNews.com.

TeraWulf, a U.S.-based Bitcoin miner and data center operator, has signed a major AI hosting deal worth $3.7 billion with Fluidstack. The agreements cover over 200 MW of high-performance computing capacity at TeraWulf’s Lake Mariner campus. Google will backstop $1.8 billion of Fluidstack’s lease obligations and gain an 8% equity stake in TeraWulf. Large-Scale AI Hosting Agreements The agreements between TeraWulf and Fluidstack span 10 years and aim to deliver over 200 MW of critical IT load. The Lake Mariner facility is designed to support liquid-cooled AI workloads and high-density compute. Phase one of the project, totaling about 40 MW, is expected to be online in the first half of 2026. The full deployment of 200+ MW is planned by the end of 2026. The contracts also include two five-year extension options. If exercised, the total contract value could reach $8.7 billion. The lease structure is a modified gross lease with annual escalators. TeraWulf expects site net operating income margins of 85%, translating to roughly $315 million annually. Google’s Role in the Deal Google will backstop $1.8 billion of Fluidstack’s lease obligations to support project financing. In return, Google will receive warrants for about 41 million shares of TeraWulf common stock, giving it an 8% equity position. This arrangement aligns TeraWulf with one of the largest global AI partners. TeraWulf plans to access the capital markets to fund a portion of the project. The company also received 30-day exclusivity for the CB-5 site at Lake Mariner, which could add an additional 160 MW of critical IT load. Leadership Statements and Facility Capabilities Paul Prager, Chief Executive Officer of TeraWulf, said, “We are proud to unite world-class capital and compute partners to deliver next-generation AI infrastructure.” Nazar Khan, Chief Technology Officer, added, “Our Lake Mariner campus is purpose-built for demanding AI…

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Filed under: News - @ August 17, 2025 11:21 am