Abernathy Joint Venture with Fluidstack - 50.1% ownership
Company: TeraWulf - Project: Abernathy HPC Campus
The claim, verbatim
TeraWulf entered into amended and restated joint venture agreement with Fluidstack CS I Inc. in October 2025 to develop, lease and operate the Abernathy HPC Campus, with TeraWulf holding 50.1% ownership
Source (primary)
View 10-K PDF (IR page (investors.terawulf.com), ir_release)
View cached copy (2026-09-01)Live source ↗Archive.org ↗
Quote: “In October 2025, the Company entered into an amended and restated limited liability company agreement (the "Abernathy Joint Venture Agreement") with Fluidstack CS I Inc. (the "Fluidstack Member") to govern the terms of operation of FS CS 1 LLC (the "Abernathy Joint Venture"), which will develop, lease and operate the Abernathy HPC Campus. The campus is being developed through a joint venture in which the Company holds a 50.1% ownership interest.”
How we checked this
Checked on October 10, 2026. The cited source supports every part of this claim.
The filing states the October 2025 amended and restated agreement with Fluidstack CS I Inc., the joint venture's purpose and TeraWulf's 50.1% interest. The claim's quote combines two separate passages from the filing.
Confirmed in the source:
- TeraWulf entered into an amended and restated limited liability company agreement governing the Abernathy joint venture
- The counterparty to that agreement was Fluidstack CS I Inc.
- The agreement was entered into in October 2025 (October 27, 2025)
- The joint venture will develop, lease and operate the Abernathy HPC Campus
- TeraWulf holds a 50.1% ownership interest in the joint venture
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: “In October 2025, the Company entered into an amended and restated limited liability company agreement (the "Abernathy Joint Venture Agreement") with Fluidstack CS I Inc. (the "Fluidstack Member") to govern the terms of operation of FS CS 1 LLC (the "Abernathy Joint Venture"), which will develop, lease and operate the Abernathy HPC Campus. The campus is being developed through a joint venture in which the Company holds a 50.1% ownership interest.”