In the twilight of New York’s industrial wastelands, beneath clouds heavy not with rain but with the promise of “critical IT load,” a deal is brokered: TeraWulf, unbowed by the ghosts of rust and wire, binds itself to Fluidstack for ten years-for computing, for dollars, for something resembling progress. One cannot traverse these corridors of high-performance computing without tripping over the future. Or, at least, the press releases announcing it.
They promise 200 MW at Lake Mariner. Yes, MW, not milliwatts, lest your heart flutter. All for the holy grail of “liquid-cooled AI workloads”-the kind that leaves no carbon footprint, just a mountain of paperwork. Scale, density, dependability: the sacred trinity atop which the new prophets of silicon convene, swearing their allegiance to progress as the river outside grows ever quieter.
Money trickles not like water, but like Niagara unleashed: $3.7 billion over ten years, with options to drag that number closer to the heavens at $8.7 billion. Google, omnipresent and beneficent, tosses $1.8 billion into the inferno of lease obligations, and in return pockets warrants for 41 million shares. Why dream of equity when you can own a place in history-and, if you squint, an 8% stake?
Strategic Buildout and Timeline 🤖💧
Phase one-a phrase beloved by architects and bureaucrats-begins with 40 MW online by mid-2026. The full beast will roar by end of that year. TeraWulf and Fluidstack join hands in the dance, while the rest stare through glass at the fiber connectivity, the closed-loop cooling, the dual 345 kV lines humming in the dark.
“This is a defining moment,” intones Paul Prager, CEO. A defining moment among so many other defining moments, one might say. CTO Nazar Khan, his brow furrowed by the challenge of AI, assures us the site is “tailored.” Tailored by whom? By destiny, perhaps, or by the relentless churn of shareholder expectation.
TeraWulf soars 41.88% to $7.75 (according to Yahoo Finance, whose name must be uttered like an oracle). More MW dangle from the horizon, as do exclusivity periods and further expansion-between $8 and $10 million per MW, with an 85% operating income margin. What is margin but a lifeline clung to by those too clever to farm potatoes?
So TeraWulf is crowned a key player, with Google whispering sweet nothings of credibility. The circus of grown-up finance is well underway, everyone eyeing the grand parade of revenue, and the “long haul” now beckoning with a bony, pixelated finger. The landscape shudders, but the men at Lake Mariner just keep stacking their fluids, buoyed by optimism, sarcasm, and the occasional emoji to ward off despair.
Next up: watch for the cameras and the ceremonial first liquid-cooling spill. 🫠💼
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2025-08-14 21:52