Fluidstack data center lease
Company: TeraWulf - Project: Akela Data
The claim, verbatim
Akela entered into three data center lease agreements with Fluidstack in August 2025 to provide 378 MW of critical IT load, with construction commenced in 2025 and delivery expected to commence in 2026. Leases include substantial credit support from Google.
Source (primary)
TeraWulf 424B5 filed 2026-04-16 (SEC EDGAR, sec_filing)
View cached copy (2026-08-31)Live source ↗
Quote: “In August 2025, Akela entered into three data center lease agreements (the "Akela Fluidstack Leases") with Fluidstack USA I Inc....we will provide 378 MW of critical IT load...construction having commenced in 2025 and delivery expected to commence in 2026. The Akela Fluidstack Leases benefit from substantial credit support provided by Google”
How we checked this
Checked on September 15, 2026. The cited source supports every part of this claim.
The filing describes the three August 2025 Akela–Fluidstack leases for 378 MW, the construction and delivery timing, and Google's credit support.
Confirmed in the source:
- Akela entered into three data center lease agreements with Fluidstack in August 2025
- The leases provide 378 MW of critical IT load
- Construction commenced in 2025
- Delivery is expected to commence in 2026
- The leases benefit from substantial credit support provided by Google
What we did: Read our cached copy of SEC EDGAR (https://www.sec.gov/Archives/edgar/data/1083301/000110465926044031/tm2611661-8_424b5.htm) in full (226,161 characters, retrieved August 31, 2026) and checked each assertion in the claim against it.
Additional evidence
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....we will provide 378 MW of critical IT load...construction having commenced in 2025 and delivery expected to commence in 2026. The Akela Fluidstack Leases benefit from substantial credit support provided by Google”