Bitcoin Mining Firm Terawulf Signs AI Hosting Agreement with Fluidstack, First 10-Year Contract Generates $3.7 Billion in Revenue

On August 14th, the Bitcoin mining firm TeraWulf (Nasdaq: WULF) has entered into two 10-year Hosted High-Performance Computing (HPC) agreements with the AI cloud platform Fluidstack. Under these agreements, more than 200 MW of crucial IT load will be provided at the New York Lake Mariner data center. The estimated first 10-year contract revenue is approximately $3.7 billion, and it could reach $8.7 billion if the extension option is exercised. Google will ensure Fluidstack's $1.8 billion lease obligation to facilitate project-related debt financing and will obtain approximately 41 million warrants, which represent approximately 8% of the company.