CBRE contingent commission for additional capacity
Company: TeraWulf - Project: Akela Data
What the later record shows
Delivered on time · happened August 17, 2025
Days after the claim, Akela signed an additional Fluidstack lease for CB-5 (more than 160 MW). This is a lease for additional capacity, signed well before March 31, 2026. Later filings show three Akela–Fluidstack leases totalling 378 MW.
“Akela Data LLC (“Akela”) had entered into a Datacenter Lease Agreement for colocation building number 5 (“CB-5”) (the “Fluidstack Lease”) with Fluidstack USA I Inc.”
2025-08-17 · TeraWulf 8-K filed 2025-08-18 View cached copy (2026-08-31)Live source ↗
“In August 2025, Akela entered into three data center lease agreements (the “Akela Fluidstack Leases”) with Fluidstack USA I Inc.”
2026-04-15 · TeraWulf 424B5 filed 2026-04-16 View cached copy (2026-08-31)Live source ↗
Checked October 9, 2026 against filings, releases and reporting published after the claim was made. Quotes are verbatim from the linked documents.
The claim, verbatim
Akela agreed to pay CBRE an additional commission of approximately $20 million if Akela and Fluidstack enter into a data center lease for additional capacity on or before March 31, 2026
Source (primary)
TeraWulf 8-K filed 2025-08-14 (SEC EDGAR, sec_filing)
View cached copy (2026-08-31)Live source ↗
Quote: “an additional commission of approximately $20 million if Akela and Fluidstack enter into a data center lease for additional capacity on or before March 31, 2026”
How we checked this
Checked on October 10, 2026. The cited source supports every part of this claim.
TeraWulf's August 2025 8-K (Item 8.01) states that Akela agreed to pay CBRE an additional commission of approximately $20 million if Akela and Fluidstack enter into a data center lease for additional capacity on or before March 31, 2026, matching every element of the claim.
Confirmed in the source:
- Akela agreed to pay CBRE an additional commission of approximately $20 million
- The additional commission is contingent on Akela and Fluidstack entering into a data center lease for additional capacity
- The deadline for that additional-capacity lease is on or before March 31, 2026
What we did: Read our cached copy of SEC EDGAR (https://www.sec.gov/Archives/edgar/data/1083301/000110465925078084/tm2523008d2_8k.htm) in full (11,558 characters, retrieved August 31, 2026) and checked each assertion in the claim against it.
Additional evidence
confirms TeraWulf 8-K filed 2025-08-14
Quote: “an additional commission of approximately $20 million if Akela and Fluidstack enter into a data center lease for additional capacity on or before March 31, 2026”
confirms TeraWulf 8-K filed 2025-08-18
Quote: “Akela Data LLC (“Akela”) had entered into a Datacenter Lease Agreement for colocation building number 5 (“CB-5”) (the “Fluidstack Lease”) with Fluidstack USA I Inc.”
confirms TeraWulf 424B5 filed 2026-04-16
Quote: “In August 2025, Akela entered into three data center lease agreements (the “Akela Fluidstack Leases”) with Fluidstack USA I Inc.”