TeraWulf has secured a Google credit backstop to support project financing for a $19 billion lease with Anthropic, and has executed a definitive EPC agreement with Fluor.

TeraWulf (NASDAQ: WULF) has executed Google credit support agreements for anticipated debt financing supporting approximately $19 billion of contracted Anthropic lease commitments.

The financing is intended to support development of the Justified Data Campus in Hawesville, Kentucky. TeraWulf says Google's contractual support strengthens its ability to secure competitive project financing. The agreements do not constitute completed debt financing.

TeraWulf also signed a definitive engineering, procurement and construction (EPC) agreement with Fluor for three data center buildings at Justified, expanding Fluor's role beyond early engineering and pre-construction and expanding execution capacity for the project. Fluor's scope extends through testing and commissioning. The agreement establishes delivery milestones, open-book cost reporting, procurement oversight and contractual performance protections. Guaranteed maximum pricing is being established as engineering and procurement progress. Phased ready-for-service completions are expected from late 2027 through the second quarter of 2028.

Separately, contracted power capacity at the Muskie Data Campus recently expanded to 1 GW.