Google backstop of Fluidstack lease
Company: TeraWulf - Project: Abernathy HPC Campus
The claim, verbatim
$1.3 billion backstop from Google in support of Fluidstack's lease obligations at Abernathy.
Source (primary)
Majority-Owned Joint Venture with Fluidstack for 168 MW in Texas (IR page (investors.terawulf.com), ir_release)
View cached copy (2026-10-06)Live source ↗
Quote: “$1.3Bn Backstop in Support of Fluidstack's Lease Obligations ... Continued support from Google in the form of backstop”
How we checked this
Checked on October 14, 2026. The cited source supports every part of this claim.
The transaction overview slide lists a $1.3 billion backstop in support of Fluidstack's lease obligations and, on the same slide, says Google continues its support in the form of a backstop.
Confirmed in the source:
- A $1.3 billion backstop supports Fluidstack's lease obligations
- Google provides support in the form of a backstop
- The backstop relates to the Abernathy transaction
What we did: Read our cached copy of IR page (investors.terawulf.com) (https://d1io3yog0oux5.cloudfront.net/_26c9692236622f11a71632d61560402c/terawulf/db/2396/23305/pdf/Abernathy_JV_Announcement_Pres_Oct_2025vF.pdf) in full (7,261 characters, retrieved October 6, 2026) and checked each assertion in the claim against it.
Additional evidence
confirms Majority-Owned Joint Venture with Fluidstack for 168 MW in Texas
Quote: “$1.3Bn Backstop in Support of Fluidstack's Lease Obligations ... Continued support from Google in the form of backstop”
confirms Majority-Owned Joint Venture with Fluidstack for 168 MW in Texas
Quote: “$1.3Bn Backstop in Support of Fluidstack's Lease Obligations”