TeraWulf enters 80-year lease for Cayuga site to expand HPC infrastructure

TERAWULF INC.

Lease covers 183 acres in Lansing, NY with up to 400 MW capacity, 138 MW expected in 2026.
$95 million in TeraWulf common stock plus $3 million cash prepaid as rent; purchase option at $100 after 50 years.
Transaction approved by independent board committee; CEO is owner of landlord entity.
Internal restructuring at Lake Mariner includes new ground leases for up to 750 MW capacity.
Investor call for Q2 2025 results rescheduled to August 14, 2025 at 8:00 AM ET.

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