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

Under the arrangements, TeraWulf will provide more than 200 MW of crucial 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 workloads, the facility is engineered to fulfill the scale, density and resiliency needed for next-generation calculate.

The arrangements represent around $3.7 billion in contracted profits over the initial 10-year terms and consist of two five-year extension options which, if worked out, would bring the total contract profits to approximately $8.7 billion.

To support the buildout, Google will backstop $1.8 billion of Fluidstack's lease responsibilities to support project-related debt financing and will receive warrants to obtain around 41 million shares of TeraWulf common stock, corresponding to a roughly 8% pro forma equity ownership stake-aligning TeraWulf with one of the most prominent global AI partners. TeraWulf likewise prepares to access the capital markets to money a portion of the job.

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

Rapid Deployment Schedule

Phase one-approximately 40 MW of important IT load-is anticipated online in the first half of 2026, with the full 200+ MW released by year-end 2026, delivering significant near-term capability to Fluidstack.

Leadership Commentary

" This is a specifying moment for TeraWulf," said Paul Prager, President of TeraWulf. "We are proud to join world-class capital and calculate partners to deliver the next generation of AI infrastructure, powered by low-cost, mainly zero-carbon energy. This transaction highlights Lake Mariner's status as a premier hyperscale-ready school and more accelerates our strategic growth into high-performance calculate."

" Fluidstack's dedication highlights the remarkable quality and readiness of our Lake Mariner facility and the abilities of our team," included Nazar Khan, Chief Technology Officer of TeraWulf. "With double 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 cooperation with Fluidstack enabled us to create a completely tailored, scalable solution."

" Fluidstack is happy to be a relied on supplier of crucial compute for the world's leading AI laboratories," stated César Maklary, Co-Founder and President of Fluidstack. "Our collaboration with TeraWulf reflects our shared commitment to delivering rapid, scalable infrastructure for the AI frontier."

Transaction Highlights

- Contract Value: ~$ 3.7 billion throughout the preliminary 10-year terms
- Lease Extensions: Two five-year alternatives might increase total earnings to ~$ 8.7 billion
- Lease Structure: Modified gross lease with annual escalators
- Expected Site Net Operating Income (NOI) 1 Margins: 85% (implies ~$ 315 million annually).
- Total Project Cost: $8-$ 10 million per MW of important IT load.
- Google Participation: $1.8 billion backstop of Fluidstack lease obligations 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 recommended by Morgan Stanley, acting as sole monetary advisor. Paul, Weiss, Rifkind, Wharton & Garrison LLP and Stutzman, Bromberg, Esserman & Plifka, P.C. function as legal counsel to the Company.

About TeraWulf

TeraWulf develops, owns, and runs environmentally sustainable, industrial-scale information center infrastructure in the United States, purpose-built for high-performance computing (HPC) hosting and bitcoin mining. Led by a group of veteran energy facilities business owners, TeraWulf is committed to development and operational excellence, with a mission to lead the market 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 contains positive declarations within the significance of the" safe harbor" provisions of the Private Securities Litigation Reform Act of 1995, as amended. Such positive statements include declarations worrying anticipated future occasions and expectations that are not historic realities. All statements, other than statements of historical fact, are declarations that could be deemed positive declarations. In addition, positive statements are usually determined by words such as" plan,"" think,"" goal,"" target,"" objective,"" anticipate,"" prepare for, "" mean," "outlook," "estimate," "forecast," "job," "seek," "continue," "could," "may," "might," "possible," "potential," "strategy," "chance," "forecast," "should," "would" and other comparable words and expressions, although the lack of these words or expressions does not indicate that a declaration is not forward-looking. Forward-looking statements are based upon the present expectations and beliefs of TeraWulf's management and are naturally based on a variety of aspects, dangers, uncertainties and assumptions and their potential results. There can be no assurance that future developments will be those that have actually been prepared for. Actual results may differ materially from those expressed or implied by forward-looking declarations based on a variety of factors, risks, uncertainties and presumptions, consisting of, among others: (1) the ability to mine bitcoin profitably; (2) our ability to attract extra consumers to lease our HPC information centers; (3) our capability to perform under our existing data center lease contracts; (4) modifications in relevant laws, policies and/or allows impacting TeraWulf's operations or the industries in which it runs; (5) the ability to execute certain service objectives, including its bitcoin mining and HPC information center development, and to timely and cost-effectively perform associated jobs; (6) failure to obtain appropriate financing on a timely basis and/or on appropriate terms with regard to growth or existing operations ; (7) unfavorable geopolitical or financial conditions, consisting of a high inflationary environment, the implementation of brand-new tariffs and more restrictive trade guidelines; (8) the capacity of cybercrime, money-laundering, malware infections and phishing and/or loss and disturbance as a result of devices breakdown or break-down, physical catastrophe, data security breach, computer malfunction or sabotage (and the expenses connected with any of the foregoing) ; (9) the accessibility and expense of power as well as electrical infrastructure equipment needed to maintain and grow the business and operations of TeraWulf; (10) operational and monetary threats associated with the expansion of the Lake Mariner data 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 financiers, stockholders and other readers are cautioned not to place undue reliance on these forward-looking statements, which speak just since the date on which they were made. TeraWulf does not assume any responsibility to openly update any positive statement after it was made, whether as a result of brand-new info, future events or otherwise, other than as needed by law or guideline. Investors are referred to the full conversation of threats and unpredictabilities associated with forward-looking declarations and the conversation of threat aspects contained 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 revenue less rental residential or commercial property operating costs, residential or commercial property taxes and insurance expenditures (as tape-recorded in the Company's consolidated statements of operations). NOI Margin is determined by dividing NOI by aggregate rental profits. NOI is commonly used by shareholders, Company's management and market analysts as a measurement of operating efficiency of the Company's rental portfolio. However, since NOI excludes devaluation and amortization and catches neither the changes in the value of the Company's data centers that arise from usage or market conditions, nor the level of capital expenditures and capitalized leasing commissions necessary to maintain the operating efficiency of the Company's information centers, all of which have real economic effect and could materially affect the Company's combined results of operations, the energy of NOI and NOI Margin as measures of the Company's efficiency is limited. Other companies, including Real Estate Investment Trusts, may compute NOI and NOI Margin differently than we do and, accordingly, our NOI and NOI Margin might not be comparable to these companies' NOI and NOI Margin. NOI and NOI Margin need to be considered just as extra to financial steps such as running loss, calculated in accordance with GAAP, as steps of Company's efficiency. Although the Company just uses NOI and NOI Margin supplementally, the Company does not consider them to be a replacement for, or exceptional to, the info offered by U.S. GAAP monetary results.