TLDR
- TeraWulf Inc and Fluidstack announced a joint venture to develop a 168 MW data center in Abernathy, Texas with TeraWulf holding 51% ownership
- The partnership includes $9.5 billion in contracted revenue over 25 years and is backed by a $1.3 billion Google commitment
- The facility will focus on AI and high-performance computing infrastructure with operations starting in late 2026
- TeraWulf’s total contracted HPC capacity now exceeds 510 MW following this expansion
- WULF stock surged over 20% after the announcement on October 28, 2025
TeraWulf Inc revealed a major partnership with Fluidstack on October 28, 2025. The two companies will collaborate on a 168 megawatt data center facility in Abernathy, Texas.
The agreement represents $9.5 billion in contracted revenue spanning 25 years. TeraWulf secured a 51% ownership position in the joint venture.
Google is providing financial support through a $1.3 billion backstop arrangement. This backing strengthens the project’s financial foundation.
The Texas data center will specialize in high-performance computing and AI infrastructure. The facility will serve as part of a global hyperscale AI platform for foundation model development.
TeraWulf focuses on developing sustainable data center infrastructure across the United States. The company operates in both bitcoin mining and HPC hosting sectors.
Project Timeline and Specifications
Construction activities are currently underway at the Abernathy site. The data center is scheduled to commence operations during the second half of 2026.
The facility will deliver 168 MW of critical IT load capacity. This represents a substantial increase to TeraWulf’s infrastructure portfolio.
Fluidstack contributes expertise in AI-focused cloud infrastructure solutions. The company provides specialized computing resources for artificial intelligence workloads.
The partnership expands TeraWulf’s contracted HPC platform beyond 510 MW total capacity. This growth aligns with increasing demand for AI computing infrastructure.
Financial Impact and Stock Performance
TeraWulf’s stock price jumped more than 20% following the partnership announcement. Shares traded up over 9% in premarket trading on Tuesday.
The company’s market capitalization reached $5.59 billion. Daily trading volume averages 46.3 million shares.
Wall Street analysts maintain a buy rating on WULF stock. The current price target sits at $20 per share.
Technical indicators show a buy signal for the stock. However, retail sentiment on Stocktwits moved to bearish from neutral.
The 25-year lease structure provides long-term revenue predictability. TeraWulf will generate consistent income once the facility becomes operational.
Data Center Details
The Abernathy campus will house infrastructure for large-scale AI applications. TeraWulf continues expanding its position in the AI computing market.
The facility supports cloud infrastructure for foundation model training. These models require extensive computational resources.
TeraWulf emphasizes environmentally sustainable operations in its data centers. The company targets low-carbon compute capacity delivery.
Google’s financial commitment demonstrates confidence in the project. The $1.3 billion backstop reduces development risk.
The partnership combines TeraWulf’s infrastructure expertise with Fluidstack’s AI specialization. Both companies bring complementary capabilities to the venture.
Fluidstack operates as a provider of AI-focused cloud services. The company serves clients developing artificial intelligence applications.
The Texas location offers advantages for data center operations. Abernathy provides access to power infrastructure and favorable conditions.
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