Bitcoin Mining Firm Terawulf Signs AI Hosting Agreement with Fluidstack, First 10-Year Contract Generates $3.7 Billion in Revenue

BlockBeats News, August 14th, Bitcoin mining firm TeraWulf (Nasdaq: WULF) has signed two 10-year HPC hosting agreements with AI cloud platform Fluidstack. The agreements will provide over 200 MW of critical IT load at the New York Lake Mariner data center, with an estimated first 10-year contract revenue of approximately $3.7 billion, which could reach $8.7 billion if the extension option is exercised.

Google will guarantee Fluidstack's $1.8 billion lease obligation to support project-related debt financing and will receive around 41 million warrants, representing roughly 8% of the company.