Lake Mariner Data Center Financing: $3.2B Debt with Google Support
FinanceYF5 · x · 2026-08-19
The Lake Mariner project best illustrates how this structure works: TeraWulf builds, the project company borrows $3.2B; Fluidstack pays rent after capacity delivery and provides data center and operations to Anthropic. If Fluidstack defaults, Google can pay rent, take over the lease, or pay termination fees.
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