Bitcoin mining company TeraWulf has announced a partnership with AI cloud platform Fluidstack to develop a 168-megawatt AI data center in Abernathy, Texas. The project has secured $1.3 billion in leasing support from Google and is expected to bring in approximately $9.5 billion in contract revenue for the joint venture, with TeraWulf holding 51% ownership.

The facility will serve a global large-scale AI platform focusing on cutting-edge foundational models, and is expected to be completed in the second half of 2026. The cost per megawatt of critical IT load for the project is estimated to be between $8 million and $10 million, and will be financed through project-level debt supported by Google's leasing obligations.