Google backstop agreement
Company: TeraWulf - Project: Akela Data
The claim, verbatim
Google agreed to backstop certain obligations of Fluidstack under Fluidstack Lease, with option to pay termination fee or assume lease upon Fluidstack default or insolvency
Source (primary)
TeraWulf 8-K filed 2025-08-18 (SEC EDGAR, sec_filing)
View cached copy (2026-08-31)Live source ↗
Quote: “Google has agreed to backstop (the "Google BackStop") certain obligations of Fluidstack under the Fluidstack Lease... In the event of a payment default under the Fluidstack Lease, or if Fluidstack becomes subject to an insolvency event, following notice from Akela, Google will have the option to either (i) pay the termination fee under the Fluidstack Lease or (ii) pay all rent currently due under the Fluidstack Lease and assume the Fluidstack Lease as the tenant thereunder.”
How we checked this
Checked on September 17, 2026. The cited source supports every part of this claim.
The filing describes the Google Recognition Agreement, under which Google may pay the termination fee or pay rent due and assume the lease if Fluidstack defaults on payment or becomes insolvent.
Confirmed in the source:
- Google agreed to backstop certain obligations of Fluidstack under the Fluidstack Lease
- The backstop is triggered by a Fluidstack payment default or insolvency event, following notice from Akela
- Google has the option to pay the termination fee under the lease
- Google alternatively has the option to pay rent currently due and assume the lease as tenant
What we did: Read our cached copy of SEC EDGAR (https://www.sec.gov/Archives/edgar/data/1083301/000110465925079463/tm2523651d3_8k.htm) in full (10,584 characters, retrieved August 31, 2026) and checked each assertion in the claim against it.
Additional evidence
confirms TeraWulf 8-K filed 2025-08-18
Quote: “Google has agreed to backstop (the "Google BackStop") certain obligations of Fluidstack under the Fluidstack Lease... In the event of a payment default under the Fluidstack Lease, or if Fluidstack becomes subject to an insolvency event, following notice from Akela, Google will have the option to either (i) pay the termination fee under the Fluidstack Lease or (ii) pay all rent currently due under the Fluidstack Lease and assume the Fluidstack Lease as the tenant thereunder.”