Abernathy HPC Campus joint venture with Fluidstack
Company: TeraWulf - Project: Abernathy HPC Campus
What the later record shows
Not a promise: a reported event · happened October 27, 2025
The claim reports a joint-venture agreement already signed in October 2025, and filings date the agreement to October 27, 2025. The 2H26 delivery target was never confirmed. TeraWulf sold its entire 50.1% JV interest to a Fluidstack-led group on July 6, 2026.
“In October 2025, TeraWulf entered into a joint-venture agreement with Fluidstack to develop the Abernathy HPC Campus in Texas”
2026-02-25 · terawulf 8-K exhibit (a_wulfearningsrelease2026-.htm) View cached copy (2026-09-13)Live source ↗
“Abernathy Joint Venture On October 27, 2025, the Company entered into an amended and restated limited liability company agreement governing the Abernathy Joint Venture.”
2026-02-26 · TeraWulf 10-K filed 2026-02-27 View cached copy (2026-08-31)Live source ↗
“TeraWulf’s 50.1% membership interest in the Abernathy JV was sold on July 6 for aggregate cash consideration of approximately $530 million”
2026-08-27 · TeraWulf Consolidating Schedules (Q2 2026) View cached copy (2026-09-01)Live source ↗Archive.org ↗
Checked October 9, 2026 against filings, releases and reporting published after the claim was made. Quotes are verbatim from the linked documents.
The claim, verbatim
Majority-owned joint venture with Fluidstack to develop Abernathy HPC Campus in Texas supporting 168 critical IT MW under 25-year lease with annual escalators and Google credit enhancement, with delivery targeted for second half 2026
Source (primary)
terawulf 8-K exhibit (a_wulfearningsrelease2026-.htm) (SEC EDGAR (8-K Ex), press_release)
View cached copy (2026-09-13)Live source ↗
Quote: “In October 2025, TeraWulf entered into a joint-venture agreement with Fluidstack to develop the Abernathy HPC Campus in Texas, designed to support 168 critical IT MW under a 25-year lease with annual escalators. Construction is progressing with delivery targeted for second half 2026, supported by Google credit enhancement.”
How we checked this
Checked on October 11, 2026. The cited source supports every part of this claim.
The release describes the Abernathy campus as a majority-owned joint venture with Fluidstack. It gives the 168 MW capacity, the 25-year escalating lease, Google credit enhancement and second-half 2026 delivery target.
Confirmed in the source:
- The Abernathy HPC Campus in Texas is a majority-owned TeraWulf joint venture with Fluidstack
- The Abernathy campus is designed to support 168 critical IT MW
- The Abernathy lease is a 25-year lease with annual escalators
- The Abernathy project is supported by Google credit enhancement
- Abernathy delivery is targeted for the second half of 2026
What we did: Read our cached copy of SEC EDGAR (8-K Ex) (https://www.sec.gov/Archives/edgar/data/1083301/000108330126000026/a_wulfearningsrelease2026-.htm) in full (26,590 characters, retrieved September 13, 2026) and checked each assertion in the claim against it.
Additional evidence
confirms terawulf 8-K exhibit (a_wulfearningsrelease2026-.htm)
Quote: “In October 2025, TeraWulf entered into a joint-venture agreement with Fluidstack to develop the Abernathy HPC Campus in Texas, designed to support 168 critical IT MW under a 25-year lease with annual escalators. Construction is progressing with delivery targeted for second half 2026, supported by Google credit enhancement.”