# TeraWulf leases 200+ MW to Fluidstack at Lake Mariner, with Google backstopping $1.8B

Canonical page: https://technooptimist.io/stories/terawulf-leases-200-mw-to-fluidstack-at-lake-mariner-with-google-c31da6b3
Date: 14 Aug 2025
About: [Fluidstack](https://technooptimist.io/companies/fluidstack.md) · [Fluidstack AI cloud](https://technooptimist.io/computing/fluidstack-ai-cloud.md)
Original source: https://www.sec.gov/Archives/edgar/data/1083301/000110465925078084/tm2523008d2_ex99-1.htm

TeraWulf signed two 10-year colocation agreements with Fluidstack for over 200 MW of critical IT load at its Lake Mariner campus in western New York, worth about $3.7B. Google agreed to backstop $1.8B of Fluidstack's lease obligations and received warrants for about 8% of TeraWulf.

## Key facts

- Up to about $8.7B if both five-year extensions are used.
- About 40 MW planned online in H1 2026, the full 200+ MW by end-2026.
- Project cost of $8-10M per MW of critical IT load.

---

The Techno Optimist tracks every frontier of technology, program by program: https://technooptimist.io/ (a Markdown version of any page: add .md to its URL; site map for agents: https://technooptimist.io/llms.txt).
Data API (JSON, realtime stream): https://technooptimist.io/developers. People read 5 pages free, then Reader $10/month; these Markdown pages are open to agents.