TeraWulf signs long-term data center lease agreements with Core42 – TipRanks.com

TeraWulf (WULF) announced the signing of long-term data center lease agreements with Core42. Under the data center lease agreements, TeraWulf will deliver over 70 megawatts of turn-key data center infrastructure to host Core42’s deployment at the Lake Mariner facility in Upstate New York. The infrastructure will be released for production in phases between Q1 and Q3 2025. TeraWulf will customize the data halls to support Core42’s GPU clusters, which will feature Dell Integrated Rack Scalable Solutions, the Dell IR5000. These integrated racks include direct liquid cooled Dell PowerEdge XE9680L GPU servers and will come online in phases. The data center leases include two five-year renewal options, providing a long-term, stable, high-margin revenue stream for TeraWulf. Additionally, the data center lease agreements include provisions for expanding near-term hosting capacity for Core42 by an additional 135 MW gross, which is equivalent to 108 MW of critical IT load.