WULF Gains Another 10%
AI cloud platform Fluidstack has announced its plans to expand at TeraWulf’s Lake Mariner data center campus in Western New York. The expansion will include the addition of a new purpose-built data center building, CB-5, which will provide an additional 160 MW of critical IT load. Operations are expected to begin in the second half of 2026.
In a press release issued on Monday morning, it was revealed that Google is injecting $1.4 billion into the project’s debt financing to support the expansion. In return, Google will receive warrants for 32.5 million shares of TeraWulf. This brings Google’s total backstop to $3.2 billion, and its pro forma equity ownership in TeraWulf has increased to 14%.
Paul Prager, CEO of TeraWulf, expressed his excitement about the expansion, stating, “This expansion underscores the unmatched scale and capabilities of the Lake Mariner campus. By adding CB-5, we are not only increasing our contracted capacity with Fluidstack, but also further deepening our strategic alignment with Google as a critical financial partner in delivering the next generation of AI infrastructure.”
Following the announcement, TeraWulf’s stock price surged by 10% in premarket trading. The stock has nearly doubled in price since the news of the Fluidstack/Google collaboration was first revealed late last week.
This expansion represents a significant step forward for both Fluidstack and TeraWulf, as they continue to strengthen their presence in the rapidly growing AI infrastructure market. With Google’s substantial financial backing, the future looks bright for the Lake Mariner data center campus and the companies involved in this exciting project.
