TeraWulf Announces $123.5 Million Debt Financing for Lake Mariner Data Center

By Global Infrastructure Sherpa · Sep 25, 2025

Financing Data Center announced Lake Mariner, United States Sep 25, 2025

USD123.5M

Deal Value

72.5 MW

Capacity

development

Stage

TeraWulf secured a $123.5 million debt financing agreement with Macquarie Equipment Finance to support the expansion of its Lake Mariner data center in New York.

Source Intelligence

KEY DETAILS

TeraWulf plans to begin work on the financing deal in 1Q25. Quote: "The Maryland-based digital infrastructure firm plans to begin work on the financing deal in 1Q25, with plans to use proceeds to back-lever the project, which was funded with Terawulf equity, executives said on an analyst call today."

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Capacity

The initial lease covers 72.5 MW of gross capacity (60 MW critical IT load), with an option to expand to 135 MW gross (108 MW critical IT load).

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Location

TeraWulf has engaged JP Morgan and Morgan Stanley to launch a project finance deal aimed at raising debt to back its project in Lake Mariner, New York.

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PPA Details

The 10-year initial lease term with two 5-year extensions ensures predictable, long-term cash flows, the executives said.

PARTIES MENTIONED IN SOURCE

TeraWulf developer

"TeraWulf has engaged JP Morgan and Morgan Stanley to launch a project finance deal aimed at raising debt to back its project in Lake Mariner, New York."

JP Morgan advisor

"TeraWulf has engaged JP Morgan and Morgan Stanley to launch a project finance deal aimed at raising debt to back its project in Lake Mariner, New York."

Morgan Stanley advisor

"TeraWulf has engaged JP Morgan and Morgan Stanley to launch a project finance deal aimed at raising debt to back its project in Lake Mariner, New York."

Core42 buyer

"TeraWulf today announced a lease agreement for the data center project with Core42, a subsidiary of G42, which is backed by Mubadala, a UAE sovereign wealth fund."

G42 parent company

"TeraWulf today announced a lease agreement for the data center project with Core42, a subsidiary of G42, which is backed by Mubadala, a UAE sovereign wealth fund."

Mubadala investor

"TeraWulf today announced a lease agreement for the data center project with Core42, a subsidiary of G42, which is backed by Mubadala, a UAE sovereign wealth fund."

Talen Energy buyer

"TeraWulf’s recent sale of its stake in the Nautilus project to Talen Energy along with a recent convertible notes financing deal provided equity funds for the project."

high quality Enriched Feb 19, 2026