TeraWulf Inc. Secures Long-Term Expansion with Land Lease

An update from TeraWulf Inc ( (WULF) ) is now available.

TeraWulf Inc. has secured a significant expansion for its cryptocurrency mining and high-performance computing operations by entering into a 35-year lease, with options to renew, for 157 acres at the Lake Mariner facility in Somerset, New York. The $281,398.20 annual rent, subject to CPI adjustments, secures the company’s long-term growth trajectory and infrastructure capacity up to 750 MW. As part of the deal, TeraWulf paid Somerset’s parent company 20 million shares and $12 million in cash, with a sales lock-up period for the shares, highlighting a strategic move to align interests with the company’s financial and operational goals.

Find detailed analytics on WULF stock on TipRanks’ Stock Analysis page.