Core42 10-year data center lease terms
Company: TeraWulf - Project: Lake Mariner Anthropic AI Factory
The claim, verbatim
The Core42 lease covers 60 MW critical with a 10-year initial term and two 5-year extension options, ~$1.6M/MW base rent in year 1 escalating 3% annually, ~$1,085M base rent over the initial term and ~$2,544M over the full extended term, backed by a G42 parent guaranty.
Source (primary)
Investor Presentation (IR page (investors.terawulf.com), ir_presentation)
View cached copy (2026-10-13)Live source ↗Archive.org ↗
Quote: “10-year Initial Term: two 5-year extension options (i.e. total extended term of 20 years)”
How we checked this
Checked on October 15, 2026. The cited source supports every part of this claim.
The presentation's Core42 deal table and customer background slide state each 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
- Base rent is ~$1.6M per MW in year 1 and escalates 3% annually
- The initial term provides ~$1,085M of base rent
- The full extended term provides ~$2,544M of base rent
- The lease is backed by a parent guaranty from G42
What we did: Read our cached copy of IR page (investors.terawulf.com) (https://d1io3yog0oux5.cloudfront.net/_513c80c486e62e4bdb70115ded3782f5/terawulf/db/2396/23301/pdf/WULF_Q1_2025_Investor_Pres_vF.pdf) in full (23,307 characters, retrieved October 13, 2026) and checked each assertion in the claim against it.
Additional evidence
confirms Investor Presentation
Quote: “10-year Initial Term: two 5-year extension options (i.e. total extended term of 20 years)”