Fluidstack 25-year lease at Abernathy
Company: TeraWulf - Project: Abernathy HPC Campus
The claim, verbatim
Abernathy HPC Campus 100% pre-leased to Fluidstack under 25-year data center sublease with contractual rent escalators and options for term contraction; lease obligations supported by investment-grade credit enhancement provided by Google
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 campus is 100% pre-leased to Fluidstack under a 25-year data center sublease with contractual rent escalators and options for term contraction. Lease obligations are supported by investment-grade credit enhancement provided by Google”
How we checked this
Checked on October 10, 2026. The cited source supports every part of this claim.
The MD&A describes the Abernathy lease exactly as claimed.
Confirmed in the source:
- The Abernathy HPC Campus is 100% pre-leased to Fluidstack
- The sublease has a 25-year term
- The sublease includes contractual rent escalators and options for term contraction
- The lease obligations are supported by investment-grade credit enhancement provided by Google
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 campus is 100% pre-leased to Fluidstack under a 25-year data center sublease with contractual rent escalators and options for term contraction. Lease obligations are supported by investment-grade credit enhancement provided by Google”