TeraWulf has announced that Fluidstack, an artificial intelligence (AI) cloud platform, has exercised its expansion option at TeraWulf’s Lake Mariner data center campus in western New York. The expansion will add a new purpose-built data center building, referred to as CB-5, which will provide an additional 160 MW of critical IT load. TeraWulf reports that operations at CB-5 are expected to commence in the second half of 2026.
With the addition of CB-5, total contracted critical IT load at the Lake Mariner campus for Fluidstack will increase to approximately 360 MW. TeraWulf notes this development reinforces Lake Mariner’s position as a major high-performance computing (HPC) campus in the US. The company states the CB-5 lease follows the same economic terms as the previous CB-3 and CB-4 leases, ensuring consistency in structure and economics across the expansion.
TeraWulf reports that Google will provide an incremental $1.4 billion backstop for project-related debt financing as part of this lease, receiving warrants to acquire 32.5 million shares of TeraWulf common stock. With this incremental commitment, Google’s total backstop increases to approximately $3.2 billion and its total pro forma equity ownership in TeraWulf rises to approximately 14 percent.
Nazar Khan, Chief Technology Officer of TeraWulf, commented, “Fluidstack’s decision to expand so soon after our initial agreement speaks volumes about the quality, readiness, and scalability of our infrastructure,” said Nazar Khan, Chief Technology Officer of TeraWulf. “Like the prior buildings, CB-5 will be purpose-built for high-density, liquid-cooled workloads, leveraging Lake Mariner’s dual 345 kV transmission lines, sustainable water cooling, and ultra-low-latency connectivity. And with the scale, resources, and infrastructure we have in place, there is significant potential for even further expansion with Fluidstack as their compute requirements continue to grow.”
TeraWulf and Fluidstack are engaged in discussions about potential further expansion at Lake Mariner. TeraWulf also notes that the campus is designed for both HPC hosting and bitcoin mining applications.
Source: TeraWulf
