Bitcoin mining company TeraWulf has leased 70 MW of infrastructure capacity for AI computing equipment under a long-term agreement.

$WULF Has Big News 🐺🚀 (a thread)

TeraWulf is thrilled to announce long-term data center leases with our first #AI customer, @Core42_ai (subsidiary of G42) – a prominent AI cloud and managed services provider that brings substantial financial backing and global expertise.…
— TeraWulf (@TeraWulfInc) December 23, 2024

The partner in the agreement is Core42, a subsidiary of Group 42 Holding based in Abu Dhabi.

“This announcement marks an expansion into AI-driven computing, strategically complementing our leadership in Bitcoin mining,” stated TeraWulf.

The facilities at the Lake Mariner data center in upstate New York will be repurposed to host Dell PowerEdge XE9680L liquid-cooled servers. The deployment of the equipment will be completed in stages over the first three quarters of 2025.

The agreement includes the option to expand Core42’s capacity by an additional 135 MW, as well as to renew the lease twice for five-year terms.

“The growing demand for scalable, energy-efficient infrastructure presents tremendous opportunities. […] This partnership not only diversifies our revenue streams but also significantly enhances our long-term profit potential,” said TeraWulf CEO Paul Prager.

In October, the company sold a 25% stake in its Nautilus Cryptomine mining facility in Pennsylvania for $92 million. The proceeds were earmarked for the development of the Lake Mariner facility and the expansion of hosting services for AI computing.

Reminder: According to the Bitcoin Policy Institute, the AI sector offers 17–25 times higher revenue per kWh compared to cryptocurrency mining.