US crypto and data center firm TeraWulf has signed a ten-year data center lease agreement with Core42, a subsidiary of Abu Dhabi-based tech group G42.
Under the agreement, TeraWulf will deliver more than 70MW of turn-key data center infrastructure to host Core42’s deployment at the 750MW Lake Mariner facility in Upstate New York, US.
Core42 will utilize the facility to expand its artificial intelligence (AI) infrastructure offerings to its US customer base.
“TeraWulf’s Lake Mariner facility represents an ideal match for Core42’s expanding next-generation digital infrastructure in North America,” said Edmondo Orlotti, chief growth officer of Core42.
The infrastructure will be delivered in phases between Q1 and Q3 2025. TeraWulf will customize the data halls to support Core42’s GPU clusters, featuring the integrated Dell IR5000 rack. The racks also include direct liquid-cooled Dell PowerEdge XE9680L GPU servers.
TeraWulf is actively discussing with additional tenants to utilize the remaining 178MW of near-term HPC hosting capacity at Lake Mariner.
Core42 will retain a time-limited option for an additional 135MW capacity delivered in early 2026.
The deal is part of TeraWulf’s expansion into the AI market, capitalizing on the success of its Bitcoin mining operations.
“Our strategic relationship with G42, and most specifically with Core42, positions TeraWulf at the intersection of two of today’s most transformative computational networks: AI compute and Bitcoin mining,” said Paul Prager, CEO of TeraWulf.
In July 2024, the firm received approval for four additional buildings at its Lake Mariner Data Center campus. The following construction phase will consist of two data center buildings, one with 50MW capacity and the other with 20MW.
In June, it completed construction of a fourth building at the site. That facility brought its total capacity to 185MW.
TeraWulf has been consistently building out capacity at the site following its raise of $215 million across two funding rounds in 2022. The company’s previous investors include actress Gwyneth Paltrow and other celebrities.
