TeraWulf

completed delivery of CB-3 in early July, increasing revenue-generating capacity to 102 MW and satisfying the applicable conditions for $600 million of Google’s credit support for Fluidstack’s lease obligations to become effective.

Entered into a 20-year data center lease with Anthropic for approximately 401 MW of critical IT capacity at the Justified Data Campus. The lease represents approximately $19 billion of contracted revenue over the initial term and up to approximately $33 billion if Anthropic exercises both five-year extension options.

Extension: Two five-year extension options; up to approximately $33 billion if both exercised.

• 380 critical IT MW with a second tenant, Fluidstack with credit enhancement from Google, commencing in 2026.

Lake Mariner secured long-term lease commitments for: • 60 critical IT MW with Core42, commenced in 2025 and commencing in 2026

In August, the Company signed an 80-year lease at its Cayuga site in Upstate New York, establishing the framework for large-scale HPC deployment beginning in 2027.

72.5 MW contracted to Core42 (online 2025) ... Core42 lease for 72.5 MW

10-year, $3.7Bn hyperscale lease with Fluidstack ... Google backstops $1.8Bn of Fluidstack's lease obligations ... 250.0 MW contracted to Fluidstack (online 2026) ... ~$3.7Bn Contract Value Over Initial 10-Year Terms ... $1.8Bn Google Backstop of Fluidstack Obligations in Support of Project Debt ... 10-Year Extension Options Could Add Additional ~$5Bn in Revenue

Extension: 10-year extension options could add additional ~$5Bn in revenue

Announced strategic expansion into AI-driven HPC hosting with long-term data center leases expected to generate $1 billion in cumulative revenue over initial 10-year contract terms ... A pivotal milestone in this expansion was achieved on December 23, 2024, when TeraWulf signed long-term data center lease agreements with Core42, securing 72.5 MW of hosting capacity at Lake Mariner for GPU cloud compute workloads. These lease agreements are expected to commence at various dates in 2025 and include an option to expand by an additional 135 MW.

On December 23, 2024, TeraWulf Inc. (“TeraWulf” or the “Company”) entered into long-term data center lease agreements (the “Lease Agreements”) with Core42, a G42 company specializing in sovereign cloud, AI infrastructure, and digital services. Under the Lease Agreements, TeraWulf will deliver over 70 megawatts (“MW”) of turn-key data center infrastructure to host Core42’s deployment at the Lake Mariner facility in Upstate New York.

Extension: Two five-year renewal options

Entered into new, long-term ground lease agreement at Lake Mariner extending both term and land area to support the Company’s expansion into HPC hosting. ... Securing an expanded ground lease with exclusive rights to 750 MW of infrastructure capacity is a significant milestone in our growth strategy.

Acquired the Muskie Data Campus in Eastern Kentucky and entered into electric service and related infrastructure agreements with Kentucky Power Company providing for up to 1 GW of contracted electric service.

During the second quarter, the Company purchased a 128-GPU cluster from NVIDIA, financed by a leading OEM.