TeraWulf and Fluidstack will launch a large-scale AI project supported by Google

15.08.2025

Vladimir Sliper The mining company TeraWulf has signed a 10-year contract with the cloud AI platform Fluidstack. With the support of Google, the miner will provide about 250 MW for a total amount of $3.7 billion.

The company will offer its infrastructure at the Lake Mariner data center campus in the western part of New York State for hosting high-performance computing capabilities. The facility is designed with a focus on applying liquid cooling to AI workloads and is built for large-scale operations.

The agreement anticipates receiving about $3.7 billion in revenue over the first 10 years and includes the possibility of two contract extensions of five years each. In the event of an extension, the total revenue could reach $8.7 billion.

Google will provide guarantees for lease obligations totaling $1.8 billion. In return, the corporation will receive warrants to purchase approximately 41 million shares of TeraWulf — about 8% of the equity stake.

The project is being implemented in several stages. In the first half of 2026, approximately 40 MW will be put into operation. The facility will operate at full capacity by the end of the year.

TeraWulf CEO Paul Prager stated that the deal was a "defining moment" for the company, emphasizing the unification of capital and partners in the computing sector to create a new generation of AI infrastructure based on inexpensive and predominantly carbon-free energy.

Recall that in March, the AI startup CoreWeave, previously engaged in cryptocurrency mining, signed a partnership agreement with OpenAI for up to $11.9 billion.

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