Joint Venture AgreementTeraWulf announced a 25-year modified-gross JV with Fluidstack with no dilution for 168MW of critical IT load at Abernathy, TX, backed by a $1.3B Google lease backstop.
Revenue GenerationHPC segment begins generating revenue, marking the first quarter with recognized HPC lease revenue tied to 22.5MW of Core42 capacity energized at Lake Mariner.
Target ExpansionTeraWulf raised its annual target for new HPC signings to 250–500 MW from 100–150 MW, reflecting greater confidence in its delivery capabilities.