TeraWulf (WULF) said Monday it has signed long-term data center lease deals with G42 unit Core42, a cloud and artificial intelligence solutions provider.
Financial details of the agreements weren't provided.
TeraWulf said it will provide more than 70 megawatts of data center infrastructure to host Core42's deployment at the Lake Mariner facility in Upstate New York.
Core42 will use the facility to boost its AI infrastructure offerings targeting US customers, TeraWulf said.
The infrastructure will be released for production in stages between Q1 and Q3 2025, the company said, adding the leases include two five-year renewal options.
Shares of TeraWulf fell nearly 12% in recent trading.
Price: 5.83, Change: -0.78, Percent Change: -11.75
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