09:50 AM EDT, 10/10/2024 (MT Newswires) -- TeraWulf ( WULF ) said Thursday that it has secured a 35-year ground lease at its Lake Mariner site, with an option to extend for another 45 years and increase the land area by 50% to 157 acres.

The company said the agreement replaces the original 2021 lease and includes no annual payment increases per acre. The lease also provides TeraWulf ( WULF ) with exclusive access to 750 megawatts of infrastructure capacity, the company said.

Shares of TeraWulf ( WULF ) rose more than 3% in early trading.

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