TeraWulf Inc. Announces Joint Venture for 168 MW AI Data Center in Texas

On October 28, 2025, TeraWulf Inc. announced a joint venture with Fluidstack to develop and operate a 168 MW high-performance computing (HPC) data center in Abernathy, Texas. The joint venture, in which TeraWulf holds a 51% majority stake, is expected to generate approximately $9.5 billion in contracted revenue over a 25-year lease term. The facility, which will serve AI cloud platform workloads, is projected to be completed in the second half of 2026. Google has agreed to backstop $1.3 billion of Fluidstack’s long-term lease obligations, enhancing the project’s credit quality. This venture expands TeraWulf’s contracted HPC platform to over 510 MW and supports its strategy to add 250-500 MW of new capacity annually.