On August 17, 2025, TeraWulf Inc. reported that its subsidiary Akela Data LLC has signed a 10-year lease with Fluidstack for a new data center, providing over 160 megawatts for high-performance computing, with construction to be completed by the end of 2026. Additionally, Google agreed to backstop some obligations under this lease, leading to the issuance of warrants for 32,568,197 shares of TeraWulf's common stock at $0.01 each.