AI cloud platform Fluidstack has exercised its choice to develop at TeraWulf’s (WULF) Lake Mariner knowledge heart campus in Western New York.
The growth provides CB-5, a brand new purpose-built knowledge heart constructing offering an incremental 160 MW of crucial IT load, with operations anticipated to start within the second half of 2026, in accordance with a Monday morning press launch.
Alongside, Google (GOOG) is including $1.4 billion to its backstop supporting the venture’s debt financing. In return, Google is receiving warrants for 32.5 million shares of WULF. Google’s whole backstop now totals $3.2 billion and its professional forma fairness possession has risen to 14%.
“This growth underscores the unrivaled scale and capabilities of the Lake Mariner campus,” mentioned Paul Prager, CEO of TeraWulf. “By including CB-5, we’re not solely growing our contracted capability with Fluidstack, but in addition additional deepening our strategic alignment with Google as a crucial monetary accomplice in delivering the following technology of AI infrastructure.”
WULF is larger by 10% premarket and now has practically doubled in value for the reason that Fluidstack/Google information was first introduced late final week.
