Google backstop guarantee for Fluidstack leases
Company: TeraWulf - Project: Akela Data
The claim, verbatim
Google agreed to backstop certain obligations of Fluidstack under the Fluidstack Leases, with rights to pay termination fees or assume the leases upon payment default or insolvency
Source (primary)
TeraWulf 8-K filed 2025-08-14 (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 Leases... Google will have the option to either (i) pay the termination fee under such 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 backstop under the Recognition Agreements. Following a payment default or insolvency and notice from Akela, Google may either pay the termination fee or pay rent due and assume the lease.
Confirmed in the source:
- Google agreed to backstop certain obligations of Fluidstack under the Fluidstack Leases
- Upon a payment default or a Fluidstack insolvency event, Google has the option to pay the lease's termination fee
- Alternatively, Google may pay all 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/1083301/000110465925078084/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: “Google has agreed to backstop (the "Google BackStop") certain obligations of Fluidstack under the Fluidstack Leases... Google will have the option to either (i) pay the termination fee under such Fluidstack Lease or (ii) pay all rent currently due under the Fluidstack Lease and assume the Fluidstack Lease as the tenant thereunder”