AI Cloud Platform Fluidtack has exercised its opportunity to expand on Terawulf’s (Wulf) Lake Mariner Data Center Campus in western New York.
The expansion adds CB-5, a new custom-built data center building that gives a step-by-step 160 MW critical IT load, with operations expected to begin in the second half of 2026, according to a press release on Monday morning.
Next to Google (Goog) adds $ 1.4 billion to its backstop, supporting the project’s debt financing. In turn, Google receives Warrants for 32.5 million shares of Wulf. Google’s total backstop now amounts to $ 3.2 billion, and its pro forma -recovery ownership has risen to 14%.
“This extension emphasizes the unmatched scale and capabilities at Lake Mariner -Campus,” said Paul Prager, CEO of Terawulf. “By adding CB-5, we not only increase our contracted capacity with Fluidtack, but also further elaborate on our strategic adaptation to Google as a critical financial partner in providing the next generation of AI-Infrastructure.”
Wulf is higher with 10% Premarket and has now almost doubled in price, since Fluidtack/Google News was only announced late last week.
