Cryptomining firm turned AI and HPC data center provider TeraWulf has extended the lease it signed last week with a large AI cloud provider.

Last week, the company announced AI cloud firm Fluidstack would be leasing 200MW of critical IT load (~250MW of gross capacity) at its Lake Mariner data center campus in New York. The 10-year deal was backed by Google, which also took an eight percent stake in TeraWulf.

This week saw Fluidstack exercise its option to add a further 160MW at Lake Mariner, leasing capacity at TeraWulf’s upcoming CB-5 facility, due online in H2 2026.

“This expansion underscores the unmatched scale and capabilities of the Lake Mariner campus,” said Paul Prager, TeraWulf CEO. “By adding CB-5, we are not only increasing our contracted capacity with Fluidstack, but also further deepening our strategic alignment with Google as a critical financial partner in delivering the next generation of AI infrastructure.”

With this expansion, the total contracted IT load at the campus with Fluidstack increases to 360MW, representing $6.7 billion in contracted revenue with the potential to reach $16 billion through extensions.

To support the expansion, Google is boosting its backstop to $3.2 billion and raising its equity stake in the company to ~14 percent.

The deal will see approximately 40MW of critical IT load in the first half of 2026, with the full 200MW deployed by the end of 2026. As well as CB-5, Fluidstack will be leasing buildings CB-3 (42MW) and CB-4 (162MW).

Fluidstack was founded in 2017 at Oxford University. The company currently has more than 100,000 GPUs under management on its platform, with customers including Mistral AI, Character.AI, Poolside, and Black Forest Labs.

This year so far, Fluidstack has announced a financing deal with Macquarie Group to supply European AI research labs with GPUs, and has partnered with Nvidia, Borealis, and Dell for exascale GPU clusters across Iceland and the Nordics.

In February 2025, Fluidstack signed an MoU with the French government that would see it build a 1GW AI supercomputer in France.

Located on the site of a former coal plant and originally developed for cryptomining, TeraWulf has been pivoting the Lake Mariner campus towards AI and HPC leasing. The site currently has 500MW of capacity, expandable to 750MW. Core42, a subsidiary of Abu Dhabi-based tech group G42, is also a customer of the campus.