---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-25-078084"
form_type: "8-K"
ticker: "WULF"
cik: "0001083301"
company_name: "TERAWULF INC."
filed_at: "2025-08-14T23:59:59+00:00"
generated_at: "2026-05-17T12:44:46.431385+00:00"
event_type: "other_material"
sentiment: "positive"
materiality_score: 0.95
calibrated_materiality_score: 0.95
confidence: "high"
source: SEC EDGAR
---

# TeraWulf signs 200+ MW AI hosting deal with Fluidstack, backed by Google; ~$3.7B in contracted revenue

## Summary
- TeraWulf signs 200+ MW, 10-year HPC colocation deal with Fluidstack; ~$3.7B initial revenue, up to $8.7B with extensions.
- Google backstops $1.8B of Fluidstack lease obligations, receives warrants for ~41M shares (~8% pro forma equity stake).
- Phase one (40 MW) expected online H1 2026; full 200+ MW deployed by year-end 2026.
- Expected site NOI margins of 85% (~$315M annually); total project cost $8-10M per MW.
- CBRE to receive $30M initial commission, plus potential $20M for additional capacity; 30-day exclusivity for CB-5 (160 MW).

## SEC filing metadata
- accession: 0001104659-25-078084
- form_type: 8-K
- ticker: WULF
- cik: 0001083301
- company_name: TERAWULF INC.
- filed_at: 2025-08-14T23:59:59+00:00
- event_type: other_material
- sentiment: positive
- materiality_score: 0.95
- calibrated_materiality_score: 0.95
- confidence: high
- sec_items: 1.01, 7.01, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1083301/000110465925078084/0001104659-25-078084-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1083301/000110465925078084/tm2523008d2_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-25-078084
- JSON: https://secwatch.observer/filing/0001104659-25-078084.json
- Plain text: https://secwatch.observer/filing/0001104659-25-078084.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.