Abernathy - Fluidstack Lease - 168 MW full build-out
Company: TeraWulf - Project: Abernathy HPC Campus
The claim, verbatim
Abernathy HPC Campus is designed for 168 MW critical IT load fully pre-leased to Fluidstack USA III under a 25-year data center lease, with completion and delivery targeted for the second half of 2026
Source (primary)
View 10-K PDF (IR page (investors.terawulf.com), ir_release)
View cached copy (2026-09-01)Live source ↗Archive.org ↗
Quote: “The Abernathy HPC Campus is designed for 168 MW critical IT load, representing the full build-out of the site. This capacity is fully pre-leased to Fluidstack USA III under a 25-year data center lease with built-in rent escalators and options for term contraction. Construction is proceeding in phases, with completion and delivery currently targeted for the second half of 2026.”
How we checked this
Checked on October 10, 2026. The cited source supports every part of this claim.
Every element of the claim appears in the filing. The quote omits a defined-term parenthetical that sits between its sentences in the original.
Confirmed in the source:
- The Abernathy HPC Campus is designed for 168 MW of critical IT load, representing the full build-out of the site
- The Abernathy capacity is fully pre-leased to Fluidstack USA III
- The Abernathy lease is a 25-year data center lease
- Completion and delivery of the Abernathy campus are targeted for the second half of 2026
What we did: Read our cached copy of IR page (investors.terawulf.com) (https://investors.terawulf.com/sec-filings/all-sec-filings/content/0001083301-26-000031/0001083301-26-000031.pdf) in full (556,251 characters, retrieved September 1, 2026) and checked each assertion in the claim against it.
Additional evidence
confirms View 10-K PDF
Quote: “The Abernathy HPC Campus is designed for 168 MW critical IT load, representing the full build-out of the site. This capacity is fully pre-leased to Fluidstack USA III under a 25-year data center lease with built-in rent escalators and options for term contraction. Construction is proceeding in phases, with completion and delivery currently targeted for the second half of 2026.”