TeraWulf Inc. has entered into a series of Credit Support Agreements with Google LLC to backstop certain obligations of its key tenant, Anthropic, PBC. This arrangement supports a previously announced 20-year lease for approximately 401 MW of high-performance computing (HPC) capacity at TeraWulf's data center campus in Kentucky. The credit backstop from Google is intended to strengthen TeraWulf's ability to secure competitive project financing for the data center's construction.
Key Details
- Agreement: On November 4, 2026, TeraWulf entered into Credit Support Agreements with Google LLC, which provides a backstop for certain obligations of Anthropic under its long-term data center lease.
- Default Provisions: In the event of a payment default or insolvency by Anthropic, Google has the option to either assume the lease as the tenant or pay a specified termination fee. Payment of the termination fee would entitle Google to an equity interest in TeraWulf's subsidiary, Raylan Data LLC.
- Project Timeline: The delivery of data center capacity to Anthropic is expected to occur in phases, beginning in late 2027 and concluding in the second quarter of 2028.
- Related Development: TeraWulf also announced a definitive engineering, procurement, and construction (EPC) agreement with Fluor Enterprises for the development of the data center campus.