Fluidstack expands operations at TeraWulf's Lake Mariner campus
- Fluidstack has exercised its option to expand at TeraWulf's Lake Mariner data center campus, adding a new facility named CB-5.
- This expansion will increase the data center's critical IT load capacity by 160 MW, with operations expected to begin in the second half of 2026.
- The partnership with Google has provided substantial financial backing, leading to a significant increase in TeraWulf’s stock price and highlighting the potential for future growth.
In the United States, specifically in Western New York, Fluidstack has announced its decision to expand its operations at TeraWulf's Lake Mariner data center campus. This expansion includes the construction of a new data center building, designated as CB-5, which is expected to add an incremental 160 megawatts (MW) of critical IT load. Operations for this new facility are projected to commence in the second half of 2026. The news was officially released in a press statement on Monday morning, indicating the growth plans of Fluidstack in the AI cloud platform sector. Alongside Fluidstack’s expansion, Google has made a significant financial commitment to support the project. The tech giant is adding $1.4 billion to its debt financing backstop for the project, further solidifying their role as a financial partner. This investment brings Google’s total backstop to $3.2 billion, allowing the company to receive warrants for 32.5 million shares of TeraWulf. Following these developments, Google's pro forma equity ownership in TeraWulf has increased to 14%, indicating a substantial stake in the growing data center operations. Paul Prager, CEO of TeraWulf, commented on the expansion, highlighting the unmatched scale and capabilities of the Lake Mariner campus. Prager emphasized that by constructing CB-5, they are increasing their contracted capacity with Fluidstack while simultaneously reinforcing their strategic alignment with Google. This collaboration is essential for delivering the next generation of AI infrastructure, which is increasingly sought after as the demand for cloud computing and AI services intensifies. In response to the positive developments regarding Fluidstack and Google, TeraWulf's stock (WULF) has seen an impressive 10% increase in premarket trading. Market observers note that the share price has nearly doubled since the initial announcement of the Fluidstack and Google partnership. This reflects not only confidence in the strategic direction of TeraWulf but also the anticipated growth within the AI infrastructure sector as demand escalates in the coming years.