TechFlow news, August 14 — According to GlobeNewswire, bitcoin mining company TeraWulf announced two 10-year high-performance computing hosting agreements with artificial intelligence cloud platform Fluidstack.
Under the agreements, TeraWulf will provide Fluidstack with over 200 MW of critical IT load at its Lake Mariner data center in western New York. The initial 10-year contracts represent approximately $3.7 billion in revenue, rising to $8.7 billion if both five-year extension options are exercised.
Google will provide an $1.8 billion lease obligation guarantee for Fluidstack to support project-related debt financing and will receive warrants for approximately 41 million shares of TeraWulf common stock, representing about 8% equity ownership.
