TeraWulf partners with Fluidstack to develop $9.5 billion AI data center

Jinse Finance reported that bitcoin mining company TeraWulf has announced a partnership with AI cloud platform Fluidstack to develop a 168-megawatt AI data center in Abernathy, Texas. The project has secured $1.3 billion in lease support from Google and is expected to generate approximately $9.5 billion in contract revenue for the joint venture, with TeraWulf holding a 51% ownership stake. The facility will serve global hyperscale AI platforms focused on cutting-edge foundational models and is expected to be completed in the second half of 2026. The cost per megawatt of critical IT load for the project ranges from $8 million to $10 million and will be financed through project-level debt supported by Google's lease obligations.