TeraWulf Secures Long-Term Ground Lease at Cayuga Site for HPC Expansion

TeraWulf has secured a 80-year ground lease for 183 acres at the Cayuga site in Lansing, New York. The lease unlocks up to 400 MW of infrastructure capacity, enhancing the company's platform for AI and HPC growth. This marks a major step forward in TeraWulf's expansion of high-performance computing and AI data center hosting.

Title: TeraWulf Secures 80-Year Ground Lease for 400 MW Expansion at Cayuga Site

TeraWulf Inc. (Nasdaq: WULF) has secured a significant strategic advantage with the acquisition of an 80-year ground lease for 183 acres at the Cayuga site in Lansing, New York. This lease unlocks up to 400 MW of digital infrastructure capacity, positioning the company for substantial growth in high-performance computing (HPC) and AI data center hosting [1].

The Cayuga site, previously home to a coal-fired power plant, offers robust existing infrastructure, including electrical systems, water intake facilities, and fiber connectivity. These assets are crucial for supporting large-scale computing workloads. TeraWulf plans to develop 138 MW of predominantly zero-carbon power, with the first phase expected to be operational by 2026 [1].

The financial terms of the deal are notable, with TeraWulf providing $95 million in stock and $3 million in cash to Cayuga Operating Company. This transaction was reviewed and approved by an Independent Committee, ensuring fairness and transparency [1].

The Cayuga site's power economics are highly favorable, with electricity costs averaging below $0.05 per kilowatt-hour in a region where approximately 90% of electricity generation comes from zero-carbon sources. An additional 67 MW solar installation and an 800 MWh battery storage system are planned, further enhancing the site's sustainability profile [1].

This strategic move places TeraWulf in a strong position to compete in the rapidly growing high-performance computing and AI infrastructure markets. The low-cost power, sustainable energy profile, and substantial capacity for expansion create a compelling long-term competitive advantage [1].

References:
1. [TeraWulf Secures Long-Term Ground Lease at Cayuga Site to Expand](https://www.stocktitan.net/news/WULF/tera-wulf-secures-long-term-ground-lease-at-cayuga-site-to-expand-u46s1lcsjc6f.html)