TeraWulf's 59.52% Surge on $2.22B in Volume (Ranking 28th) Driven by Landmark HPC Contracts and Google-Backed $3.7B Revenue Deal

TeraWulf (WULF) surged 59.52% on August 14, with a trading volume of $2.22 billion, ranking 28th in market activity. The stock’s rally followed the announcement of two 10-year high-performance computing (HPC) colocation agreements with Fluidstack, securing over $3.7 billion in contracted revenue. The deals include 200+ MW of critical IT load at TeraWulf’s Lake Mariner data center in New York, engineered for liquid-cooled AI workloads and equipped with dual 345 kV transmission lines and low-latency connectivity.

Google provided a $1.8 billion financial backstop for Fluidstack’s lease obligations, aligning with an 8% equity stake in TeraWulf via warrants for 41 million shares. This partnership underscores the project’s scalability, with two five-year lease extensions potentially increasing total revenue to $8.7 billion. The Lake Mariner facility’s 85% net operating income margins, projected at $315 million annually, highlight its financial robustness. Fluidstack also holds a 30-day exclusivity option for an additional 160 MW at the CB-5 site, signaling expansion potential.

The agreements position TeraWulf as a key player in hyperscale AI infrastructure, with phase one (40 MW) expected online by mid-2026 and full deployment by year-end. Leadership emphasized the strategic significance, noting the campus’s readiness for next-generation compute demands. Google’s involvement, coupled with the facility’s technical specifications, reinforces TeraWulf’s competitive edge in the AI infrastructure market.

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