TeraWulf x Fluidstack (Lake Mariner)

TeraWulf (NASDAQ: WULF) is a Bitcoin mining company that operates large-scale cryptocurrency mining data centers powered by nuclear and renewable energy. The company's flagship facility is the Lake Mariner Data Center in New York.

FluidStack is a GPU-cloud operator that has repositioned itself from a marketplace-style aggregator of third-party compute into a build-to-own AI infrastructure developer, marketed on the promise of standing up gigawatt-scale clusters in roughly six months rather than the industry norm of eighteen to twenty-four. Its defining relationship is with Anthropic, which selected FluidStack to lead a roughly $50 billion, multi-site custom data center build across New York and Texas, framing the company less as a peer to on-demand neoclouds like Lambda or CoreWeave and more as a dedicated infrastructure arm for a single frontier lab. The company raised an unusually large $830 million Series A in January 2026, relocated its global headquarters from London to New York City, and has been hiring aggressively across power, construction, and hardware disciplines to execute the Anthropic buildout. In Europe it is one of the operators tied to France's national AI push, working with Eclairion and Mistral on the Etché campus and running clusters with Nvidia, Dell and Borealis Data Center; it also arranged GPU financing with Macquarie to seed European research labs. FluidStack has not published a fleet-wide GPU count or an operational-megawatt figure, and its historical business as a lightweight aggregator on top of colocation partners means public disclosure lags peers like CoreWeave and Nebius. SemiAnalysis awarded it a ClusterMAX Gold rating in 2025, and the Anthropic anchor plus the fresh capital have made it one of the more closely watched private neoclouds heading into 2026.