Fluidstack 366 MW leases at Lake Mariner
Company: TeraWulf - Project: Lake Mariner Anthropic AI Factory
The claim, verbatim
TeraWulf signed 366 MW of Fluidstack leases at Lake Mariner.
Source (primary)
Q4 Earnings Update Presentation (IR page (investors.terawulf.com), ir_presentation)
View cached copy (2026-10-06)Live source ↗Archive.org ↗
Quote: “Signed 366 MW Fluidstack leases”
How we checked this
Checked on October 14, 2026. The cited source supports every part of this claim.
The 2025 summary slide lists 'Signed 366 MW Fluidstack leases' under the Lake Mariner column, and later tables show Fluidstack capacity at Lake Mariner (LMD). That later figure is 378 MW after the CB-4 and CB-5 buildings were enlarged from 162 MW to 168 MW each.
Confirmed in the source:
- TeraWulf signed Fluidstack leases totaling 366 MW
- The 366 MW Fluidstack leases relate to the Lake Mariner campus (slide pairs this bullet with the Lake Mariner label, and the platform table lists Fluidstack capacity at Lake Mariner (LMD))
What we did: Read our cached copy of IR page (investors.terawulf.com) (https://d1io3yog0oux5.cloudfront.net/_26c9692236622f11a71632d61560402c/terawulf/db/2396/23307/pdf/TeraWulf_Q4_2025_Investor_Presentation_%28Feb_2026%29.pdf) in full (28,069 characters, retrieved October 6, 2026) and checked each assertion in the claim against it.
Additional evidence
confirms Q4 Earnings Update Presentation
Quote: “Signed 366 MW Fluidstack leases”
confirms Q4 Earnings Update Presentation
Quote: “Signed 366 MW Fluidstack leases”