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Business Insider
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Google to backstop $1.8B Fluidstack lease obligation to support TerraWulf deal
TeraWulf (WULF) announced two 10-year high-performance computing, HPC, colocation agreements with Fluidstack. Under the agreements, TeraWulf will deliver more than 200 MW of critical IT load at its Lake Mariner data center campus in Western New York. To support the buildout, Google will backstop $1.8 billion of Fluidstack's lease obligations to support project-related debt financing and will receive warrants to acquire approximately 41 million shares of TeraWulf common stock, equating to an approximately 8% pro forma equity ownership stake Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
