TeraWulf (WULF) said Thursday that it has secured a 35-year ground lease at its Lake Mariner site, with an option to extend for another 45 years and increase the land area by 50% to 157 acres.

The company said the agreement replaces the original 2021 lease and includes no annual payment increases per acre. The lease also provides TeraWulf with exclusive access to 750 megawatts of infrastructure capacity, the company said.

Shares of TeraWulf rose more than 3% in early trading.

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