EASTON, Md., Aug. 14, 2025 (GLOBE NEWSWIRE)-- TeraWulf Inc. (Nasdaq: WULF) (" TeraWulf" or the "Company"), a leading owner and operator of vertically integrated, primarily zero-carbon digital infrastructure, today announced 2 10-year high-performance computing (HPC) colocation contracts with Fluidstack, a premier AI cloud platform that develops and operates HPC clusters for a few of the world's biggest companies.

Under the contracts, TeraWulf will deliver more than 200 MW of vital IT load (representing ~ 250 MW of gross capacity) at its Lake Mariner information center school in Western New york city. Purpose-built for liquid-cooled AI work, the facility is engineered to satisfy the scale, density and resiliency required for next-generation calculate.

The contracts represent roughly $3.7 billion in contracted profits over the preliminary 10-year terms and include two five-year extension choices which, if worked out, would bring the overall agreement income to around $8.7 billion.

To support the buildout, Google will backstop $1.8 billion of Fluidstack's lease responsibilities to support project-related financial obligation funding and will receive warrants to obtain roughly 41 million shares of TeraWulf typical stock, corresponding to an around 8% pro forma equity ownership stake-aligning TeraWulf with one of the most influential worldwide AI partners. TeraWulf also prepares to access the capital markets to fund a part of the project.

An accompanying presentation concerning the Fluidstack deal is readily available on the Company's investor relations website at investors.terawulf.com.

Rapid Deployment Schedule

Phase one-approximately 40 MW of crucial IT load-is anticipated online in the first half of 2026, with the complete 200+ MW released by year-end 2026, providing considerable near-term capacity to Fluidstack.

Leadership Commentary

" This is a defining minute for TeraWulf," said Paul Prager, Ceo of TeraWulf. "We are happy to unite first-rate capital and calculate partners to deliver the next generation of AI facilities, powered by low-cost, primarily zero-carbon energy. This deal underscores Lake Mariner's status as a premier hyperscale-ready campus and more accelerates our strategic growth into high-performance compute."

" Fluidstack's commitment highlights the extraordinary quality and readiness of our Lake Mariner center and the capabilities of our team," included Nazar Khan, Chief Technology Officer of TeraWulf. "With dual 345 kV transmission lines, closed-loop water cooling, and ultra-low-latency fiber connection, this school is purpose-built for today's most requiring AI work. Our close partnership with Fluidstack allowed us to develop a fully personalized, scalable solution."

" Fluidstack is proud to be a relied on provider of vital compute for the world's leading AI labs," stated César Maklary, Co-Founder and President of Fluidstack. "Our collaboration with TeraWulf reflects our shared dedication to delivering rapid, scalable infrastructure for the AI frontier."

Transaction Highlights

- Contract Value: ~$ 3.7 billion across the preliminary 10-year terms
- Lease Extensions: Two five-year options could increase total profits to ~$ 8.7 billion
- Lease Structure: Modified gross lease with yearly escalators
- Expected Site Net Operating Income (NOI) 1 Margins: 85% (suggests ~$ 315 million annually).
- Total Project Cost: $8-$ 10 million per MW of crucial IT load.
- Google Participation: $1.8 billion backstop of Fluidstack lease responsibilities in assistance of project-related debt; ~ 8% equity stake by means of 41 million warrants.
- Growth Potential: 30-day exclusivity for CB-5 at Lake Mariner (160 MW)

Advisors

TeraWulf is encouraged by Morgan Stanley, acting as sole financial advisor. Paul, Weiss, Rifkind, Wharton & Garrison LLP and Stutzman, Bromberg, Esserman & Plifka, P.C. act as legal counsel to the Company.

About TeraWulf

TeraWulf develops, owns, and runs ecologically sustainable, industrial-scale information center facilities in the United States, purpose-built for high-performance computing (HPC) hosting and bitcoin mining. Led by a team of veteran energy facilities business owners, TeraWulf is devoted to development and functional quality, with an objective to lead the marketplace in large-scale digital infrastructure by serving both its own compute requirements and those of top-tier HPC clients as a relied on hosting partner.

Contacts

Investors: investors@terawulf.com.
Media: media@terawulf.com!.?.! Forward-Looking Statements This news release consists of positive declarations within the significance of the" safe harbor" arrangements of the Private Securities Litigation Reform Act of 1995, as amended. Such forward-looking declarations include statements concerning anticipated future events and expectations that are not historical realities. All statements, besides statements of historical truth, are statements that could be considered forward-looking declarations. In addition, positive statements are normally recognized by words such as" plan,"" believe,"" objective,"" target,"" aim,"" anticipate,"" prepare for, "" intend," "outlook," "price quote," "projection," "job," "seek," "continue," "could," "may," "might," "possible," "prospective," "technique," "opportunity," "predict," "should," "would" and other similar words and expressions, although the absence of these words or expressions does not indicate that a statement is not positive. Forward-looking statements are based on the existing expectations and beliefs of TeraWulf's management and are naturally subject to a variety of elements, threats, uncertainties and assumptions and their potential impacts. There can be no guarantee that future developments will be those that have been anticipated. Actual results might differ materially from those expressed or implied by forward-looking declarations based on a number of elements, risks, uncertainties and assumptions, including, among others: (1) the ability to mine bitcoin beneficially; (2) our capability to attract additional consumers to lease our HPC data centers; (3) our capability to carry out under our existing information center lease arrangements; (4) modifications in appropriate laws, regulations and/or permits impacting TeraWulf's operations or the industries in which it operates; (5) the capability to execute particular business objectives, including its bitcoin mining and HPC data center development, and to prompt and cost-effectively execute related projects; (6) failure to get sufficient financing on a timely basis and/or on acceptable terms with regard to growth or existing operations ; (7) unfavorable geopolitical or financial conditions, consisting of a high inflationary environment, the execution of brand-new tariffs and more limiting trade guidelines; (8) the potential of cybercrime, money-laundering, malware infections and phishing and/or loss and interference as a result of devices breakdown or break-down, physical disaster, information security breach, computer system breakdown or sabotage (and the expenses connected with any of the foregoing) ; (9) the schedule and expense of power in addition to electrical infrastructure devices required to keep and grow the service and operations of TeraWulf; (10) operational and financial dangers related to the growth of the Lake Mariner information center; and (11) other risks and uncertainties detailed from time to time in the Company's filings with the Securities and Exchange Commission (" SEC"). Potential investors, investors and other readers are cautioned not to put excessive reliance on these forward-looking statements, which speak just as of the date on which they were made. TeraWulf does not presume any obligation to publicly update any positive declaration after it was made, whether as a result of new details, future occasions or otherwise, other than as required by law or guideline. Investors are referred to the full discussion of dangers and unpredictabilities connected with forward-looking statements and the discussion of danger elements included in the Company's filings with the SEC, which are available at www.sec.gov.

1 Net Operating Income (NOI) and NOI Margin are non-GAAP monetary measures that the Company specifies as follows: NOI represents rental earnings less rental residential or commercial property operating expenses, residential or commercial property taxes and insurance coverage costs (as tape-recorded in the Company's consolidated statements of operations). NOI Margin is computed by dividing NOI by aggregate rental revenue. NOI is frequently utilized by shareholders, Company's management and market analysts as a measurement of operating efficiency of the Company's rental portfolio. However, since NOI leaves out devaluation and amortization and captures neither the modifications in the worth of the Company's information centers that arise from use or market conditions, nor the level of capital investment and capitalized leasing commissions needed to keep the operating efficiency of the Company's data centers, all of which have real financial impact and could materially affect the Company's combined outcomes of operations, the energy of NOI and NOI Margin as procedures of the Company's performance is restricted. Other business, including Real Estate Investment Trusts, might calculate NOI and NOI Margin differently than we do and, appropriately, our NOI and NOI Margin might not be similar to these companies' NOI and NOI Margin. NOI and NOI Margin must be thought about just as supplemental to monetary steps such as running loss, computed in accordance with GAAP, as procedures of Company's performance. Although the Company just utilizes NOI and NOI Margin supplementally, the Company does rule out them to be an alternative to, or exceptional to, the details supplied by U.S. GAAP financial outcomes.