Fluidstack 10-year $3.7B lease
Company: TeraWulf - Project: Lake Mariner Anthropic AI Factory
The claim, verbatim
TeraWulf signed a 10-year, ~$3.7 billion hyperscale lease with Fluidstack for 200+ MW critical IT load at Lake Mariner (CB-3 & CB-4).
Source (primary)
Q2 Earnings Update Presentation (IR page (investors.terawulf.com), ir_presentation)
View cached copy (2026-10-06)Live source ↗
Quote: “10-year, $3.7Bn hyperscale lease with Fluidstack”
How we checked this
Checked on October 14, 2026. The cited source supports every part of this claim.
The investor update lists the 10-year, $3.7 billion Fluidstack lease as completed. The same slide ties the ~$3.7 billion contract value to 200+ MW of critical IT load under contract at Lake Mariner CB-3 and CB-4.
Confirmed in the source:
- TeraWulf has a 10-year, $3.7 billion hyperscale lease with Fluidstack
- The contract value is about $3.7 billion over the initial 10-year terms
- The contract covers 200+ MW of critical IT load at Lake Mariner (CB-3 & CB-4)
What we did: Read our cached copy of IR page (investors.terawulf.com) (https://d1io3yog0oux5.cloudfront.net/_26c9692236622f11a71632d61560402c/terawulf/db/2396/23302/pdf/WULF_Q2_2025_Investor_Update_%28Aug_2025%29vF.pdf) in full (17,599 characters, retrieved October 6, 2026) and checked each assertion in the claim against it.
Additional evidence
confirms Q2 Earnings Update Presentation
Quote: “10-year, $3.7Bn hyperscale lease with Fluidstack”
confirms Q2 Earnings Update Presentation
Quote: “10-year, $3.7Bn hyperscale lease with Fluidstack”