Core42 lease terms
Company: TeraWulf
The claim, verbatim
Core42 lease covers 60 MW critical with a 10-year initial term plus two 5-year extensions, ~$1.6M/MW Year 1 base rent escalating 3% annually; initial term ~$1,085M base rent, ~$2,544M over extended term; G42 parent guaranty.
Source (primary)
Investor Presentation (IR page (investors.terawulf.com), ir_presentation)
View cached copy (2026-10-06)Live source ↗
Quote: “Initial term provides ~$1,085 million Base Rent Total Extended Term provides ~$2,544 million Base Rent”
How we checked this
Checked on October 13, 2026. The cited source supports every part of this claim.
The Core42 deal slide and the customer background slide state every one of these terms.
Confirmed in the source:
- The Core42 lease covers 60 MW of critical/IT capacity
- The lease has a 10-year initial term with two 5-year extension options
- Year 1 base rent is ~$1.6 million per MW, escalating 3% annually
- The initial term provides ~$1,085 million of base rent
- The total extended term provides ~$2,544 million of base rent
- TeraWulf has a lease parent guaranty from G42
What we did: Read our cached copy of IR page (investors.terawulf.com) (https://d1io3yog0oux5.cloudfront.net/_26c9692236622f11a71632d61560402c/terawulf/db/2396/23301/pdf/WULF_Q1_2025_Investor_Pres_vF.pdf) in full (23,307 characters, retrieved October 6, 2026) and checked each assertion in the claim against it.
Additional evidence
confirms Investor Presentation
Quote: “Initial term provides ~$1,085 million Base Rent Total Extended Term provides ~$2,544 million Base Rent”