08:12 AM EDT, 08/14/2025 (MT Newswires) -- TeraWulf ( WULF ) said Thursday it has executed an 80-year ground lease with Cayuga Operating for about 183 acres at the Cayuga property in Lansing, New York, for the expansion of high-performance computing and AI data center hosting.

The company said Cayuga's parent company Riesling Power will receive consideration consisting of $95 million in TeraWulf ( WULF ) common stock determined on the basis of a 15-day trailing volume weighted average price, and $3 million in cash.

With the lease, TeraWulf ( WULF ) said it has exclusive rights to develop up to 400 MW of digital infrastructure capacity, with 138 MW expected to be ready for service in 2026.

TeraWulf ( WULF ) shares were up more than 28% in recent premarket activity Thursday.