Google is guaranteeing approximately $3.2 billion in Fluidstack lease obligations at TeraWulf’s Lake Mariner campus in Somerset, New York. Fluidstack has signed 10-year contracts for approximately 360 MW of critical IT load at the site, with phased energization scheduled for H2 2026 and into 2027. Google is also acquiring warrants representing approximately 14% equity ownership in TeraWulf, roughly 73.5 million shares. The campus, currently operating at 102 MW, plans to expand to 500 MW with potential to reach 750 MW as demand grows. Located on a former coal plant site, the facility features dual 345 kV electrical lines enabling faster AI and HPC deployment.
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