Lease structure
Company: TeraWulf
The claim, verbatim
Modified gross lease with annual escalators and 100% of power costs passed through to tenant; lease term may be shortened to 20 or 15 years via contractual options.
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: “Modified gross lease structure with annual escalators Power 100% passed-through to tenant”
How we checked this
Checked on October 13, 2026. The cited source supports every part of this claim.
The presentation states the modified gross lease structure with annual escalators and 100% power pass-through, and its footnote says the lease term may be shortened to 20 or 15 years under contractual options.
Confirmed in the source:
- The lease is a modified gross lease structure
- The lease includes annual escalators
- 100% of power costs are passed through to the tenant
- The lease term may be shortened to 20 years or 15 years pursuant to certain contractual options
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: “Modified gross lease structure with annual escalators Power 100% passed-through to tenant”