TeraWulf Expands Data Center Partnership With Fluidstack

Paul, Weiss is advising TeraWulf Inc., a leading owner and operator of vertically integrated, low-carbon digital infrastructure, on a long-term high-performance computing (HPC) joint venture with Fluidstack, a premier AI cloud platform. Under the joint venture agreement, the parties will develop 168 megawatts of critical IT load at a campus in Abernathy, Texas. The 25-year hosting commitment represents $9.5 billion in contracted revenue.

To support the buildout, Google will backstop $1.3 billion of Fluidstack’s lease obligations for project-related debt financing.

The Paul, Weiss team is led by corporate partners Steven Williams, David Huntington and Mark Wlazlo, and includes partners Daniell Penhall and Samita Ali-Khan; real estate partners Matthew Dulak and Harris Freidus; tax partner Reuven Garrett; and litigation partner Geoff Chepiga and counsel Marques Tracy.