Joint venture with Fluidstack
Company: TeraWulf - Project: Abernathy HPC Campus
The claim, verbatim
TeraWulf (via Big Country Wulf LLC) maintains 50.1% equity interest in JV Partners Holdco/Flash Compute, with Fluidstack CS I Inc. holding 49.9%
Source (primary)
TeraWulf 8-K filed 2025-12-29 (SEC EDGAR, sec_filing)
View cached copy (2026-08-31)Live source ↗
Quote: “whose equity interests are owned 50.1% by Big Country Wulf LLC (the "TeraWulf Member"), a subsidiary of TeraWulf, and 49.9% by Fluidstack CS I Inc., a wholly-owned indirect subsidiary of Fluidstack Ltd.”
How we checked this
Checked on September 16, 2026. The cited source supports every part of this claim.
The filing sets out the 50.1%/49.9% ownership of JV Partners Holdco and states that Flash Compute is its wholly owned subsidiary.
Confirmed in the source:
- Equity interests in FS CS I LLC (JV Partners Holdco) are owned 50.1% by Big Country Wulf LLC, a subsidiary of TeraWulf
- The remaining 49.9% is owned by Fluidstack CS I Inc., a wholly-owned indirect subsidiary of Fluidstack Ltd.
- Flash Compute LLC is a wholly owned subsidiary of JV Partners Holdco, so the ownership split extends to Flash Compute
What we did: Read our cached copy of SEC EDGAR (https://www.sec.gov/Archives/edgar/data/1083301/000110465925124839/tm2534384d1_8k.htm) in full (10,443 characters, retrieved August 31, 2026) and checked each assertion in the claim against it.
Additional evidence
confirms TeraWulf 8-K filed 2025-12-29
Quote: “whose equity interests are owned 50.1% by Big Country Wulf LLC (the "TeraWulf Member"), a subsidiary of TeraWulf, and 49.9% by Fluidstack CS I Inc., a wholly-owned indirect subsidiary of Fluidstack Ltd.”