<p><strong>里程碑融資鞏固戰略伙伴關係，擴大人工智能需求，並持續改善市場經濟</strong></p>
<p>馬里蘭州東頓，2025 年 12 月 18 日（全球新聞通訊社）-- TeraWulf Inc.（納斯達克：WULF）（“TeraWulf” 或 “公司”），一家領先的垂直整合低碳數字基礎設施的擁有者和運營商，今天宣佈其先前披露的位於德克薩斯州阿伯納西的 168 MW 高性能計算（HPC）合資企業項目融資成功定價。</p>
<p>該融資支持開發下一代液冷人工智能數據中心，提供高達 240 MW 的總電力容量（168 MW 的關鍵 IT 負載），並在長期託管結構下提供投資級信用支持。該融資受益於通過 Fluidstack 平台由領先的全球超大規模合作伙伴提供的長期信用增強，實質性增強了項目的信用狀況，並支持高效的資本形成。</p>
<p>融資所得將用於資助建設、建立所需儲備，並完成設施的交付，該設施仍按計劃在 2026 年下半年投入使用。</p>
<p><strong>可擴展的合作伙伴關係，適應持續的 HPC 需求</strong></p>
<p>阿伯納西項目反映了 TeraWulf 與 Fluidstack 合作關係的持續演變，建立在可重複的場地設計、嚴謹的資本形成和高效的大規模人工智能基礎設施交付之上。雙方在開發、融資、建設和運營方面擁有深厚的經驗，使得大規模快速部署成為可能。</p>
<p>高性能 HPC 計算的需求繼續以需要多種採購路徑和多樣化基礎設施合作伙伴的速度增長。Fluidstack 的平台服務於廣泛且不斷擴大的客户基礎，容量採購受到市場時間、總成本、可靠性和執行確定性的驅動。在這種環境下，阿伯納西校園因其規模、電力可用性和先進設計而被定位為一個高度競爭的解決方案。</p>
<p>除了初始的 168 MW 階段外，合資企業還保留了在初始建設之外擴展容量的能力，利用現有的傳輸、土地和開發基礎設施來支持隨着市場需求持續增長的增量高密度部署。</p>
<p><strong>早期領導，改善經濟</strong></p>
<p>TeraWulf 和 Fluidstack 在構建和融資人工智能計算基礎設施方面一直是早期領導者，包括執行首個大型交易之一，其中基礎設施所有者資助了大部分開發資本，建立了雙方之間的早期戰略關係，並完成了人工智能共置市場中首個此類項目融資之一。</p>
<p>隨着人工智能需求的加速和可用容量的緊縮，市場條款持續改善，特別是對於擁有可擴展場地和準備執行平台的所有者。公司預計每年將部署額外的 250 MW 至 500 MW 的 HPC 容量，並且迄今已確保超過 500 MW。由於其管道中仍有大量可供合同的部分，公司認為當前市場環境越來越有利。</p>
<p><strong>領導者評論</strong></p>
<p>“這項融資代表了在一開始就設計為可擴展的平台的又一步重要進展，” TeraWulf 首席執行官 Paul Prager 表示。“我們早期專注於建立能夠隨着人工智能市場演變而適應的場地、關係和結構。今天的環境驗證了這種方法。”</p>
<p>“Fluidstack 很高興通過這項融資在阿伯納西項目上與 TeraWulf 建立現有合作伙伴關係，” Fluidstack 首席執行官兼聯合創始人 Gary Wu 表示。“這一合作伙伴關係加強了我們共同的願望，以在下一個合資開發中塑造和交付更多下一代容量。”</p>
<p><strong>關於</strong> <strong>TeraWulf</strong></p>
<p>TeraWulf 在美國開發、擁有和運營環保的工業規模數據中心基礎設施，專門用於高性能計算（HPC）託管和比特幣挖礦。TeraWulf 由一支經驗豐富的能源基礎設施企業家團隊領導，致力於為下一代人工智能和 HPC 客户提供可擴展的低碳計算能力。</p>
<p><strong>前瞻性</strong> <strong>聲明</strong></p>
<p>本新聞稿包含根據 1995 年《私人證券訴訟改革法案》（經修訂）“安全港” 條款的定義所作的前瞻性聲明。這些前瞻性聲明包括關於預期未來事件和期望的陳述，而這些並非歷史事實。除歷史事實陳述外的所有陳述均可視為前瞻性聲明。此外，前瞻性聲明通常通過 “計劃”、“相信”、“目標”、“瞄準”、“期望”、“預期”、“打算”、“展望”、“估計”、“預測”、“項目”、“尋求”、“繼續”、“可能”、“或許”、“潛在”、“戰略”、“機會”、“預測”、“應該”、“會” 等詞語和表達來識別，儘管缺乏這些詞語或表達並不意味着某一聲明不是前瞻性的。前瞻性聲明基於 TeraWulf 管理層當前的期望和信念，固有地受到多種因素、風險、不確定性和假設及其潛在影響的制約。無法保證未來的發展將如預期那樣。實際結果可能因多種因素、風險、不確定性和假設而與前瞻性聲明中表達或暗示的結果有重大差異，包括但不限於：（1）盈利性挖掘比特幣的能力；（2）TeraWulf 吸引額外客户租賃其高性能計算（HPC）數據中心的能力；（3）TeraWulf 在現有數據中心租賃協議下履行的能力；（4）影響 TeraWulf 運營或其所處行業的適用法律、法規和/或許可證的變化；（5）實施某些商業目標的能力，包括比特幣挖掘和 HPC 數據中心開發，以及及時和高效地執行相關項目的能力；（6）未能及時獲得足夠的融資和/或在可接受的條款下進行擴展或現有運營；（7）不利的地緣政治或經濟條件，包括高通脹環境、新關税的實施和更嚴格的貿易法規；（8）網絡犯罪、洗錢、惡意軟件感染和網絡釣魚的潛在風險，以及由於設備故障、自然災害、數據安全漏洞、計算機故障或破壞（以及與上述任何情況相關的費用）造成的損失和干擾；（9）維持和發展 TeraWulf 業務和運營所需的電力及電氣基礎設施設備的可用性和成本；（10）TeraWulf 在美國證券交易委員會（“SEC”）的文件中不時詳細列出的其他風險和不確定性。潛在投資者、股東和其他讀者被警告不要對這些前瞻性聲明過度依賴，這些聲明僅在作出時有效。TeraWulf 不承擔在作出後公開更新任何前瞻性聲明的義務，無論是由於新信息、未來事件還是其他原因，法律或法規另有要求的情況除外。投資者可參考 TeraWulf 在 SEC 的文件中關於前瞻性聲明相關風險和不確定性的完整討論，以及風險因素的討論，這些文件可在 www.sec.gov 獲取。</p>
<p><strong>聯繫方式</strong></p>
<p>投資者：investors@terawulf.com</p>
<p>媒體：media@terawulf.com</p>
<p><img src="https://imageproxy.pbkrs.com/https://www.globenewswire.com/newsroom/ti/query-bmY9T1RZd05EZzNOU00zTXpJNU9EWTNJekl5TlRreU56WT0?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://www.globenewswire.com/newsroom/ti/query-bmY9T1RZd05EZzNOU00zTXpJNU9EWTNJekl5TlRreU56WT0"/></p>
<p><img src="https://imageproxy.pbkrs.com/https://ml.globenewswire.com/media/Y2Q4ZTUzYjQtMWY5Yi00ZGQyLWE4YzgtNWNjNDkzNDQ4MGMxLTEyNzA4MjYtMjAyNS0xMi0xOC1lbg==/tiny/Terawulf-Inc-.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://ml.globenewswire.com/media/Y2Q4ZTUzYjQtMWY5Yi00ZGQyLWE4YzgtNWNjNDkzNDQ4MGMxLTEyNzA4MjYtMjAyNS0xMi0xOC1lbg==/tiny/Terawulf-Inc-.png"/></p>

WULF

<p>TeraWulf 和 Fluidstack 已成功為其位於德克薩斯州阿伯納西的 168 兆瓦高性能計算（HPC）合資企業定價項目級融資。該融資支持開發一個液冷 AI 數據中心，容量可達 240 兆瓦。該項目受益於長期信用增強，旨在滿足日益增長的 AI 需求。合作伙伴計劃在初始建設之外擴展產能，利用現有基礎設施。TeraWulf 和 Fluidstack 是 AI 計算基礎設施融資的早期領導者，計劃每年部署 250 兆瓦至 500 兆瓦的 HPC 產能</p>

<p><strong>Milestone financing reinforces strategic partnership, expanding AI demand, and continued improvement in market economics</strong></p>
<div class="lb-trans"><p><strong>里程碑融資鞏固戰略伙伴關係，擴大人工智能需求，並持續改善市場經濟</strong></p>
</div><p>EASTON, Md., Dec. 18, 2025 (GLOBE NEWSWIRE) -- TeraWulf Inc. (Nasdaq: WULF) (“TeraWulf” or the “Company”), a leading owner and operator of vertically integrated, low-carbon digital infrastructure, today announced the successful pricing of project-level financing for their previously disclosed 168 MW high-performance computing (HPC) joint venture at the Abernathy, Texas campus.</p>
<div class="lb-trans"><p>馬里蘭州東頓，2025 年 12 月 18 日（全球新聞通訊社）-- TeraWulf Inc.（納斯達克：WULF）（“TeraWulf” 或 “公司”），一家領先的垂直整合低碳數字基礎設施的擁有者和運營商，今天宣佈其先前披露的位於德克薩斯州阿伯納西的 168 MW 高性能計算（HPC）合資企業項目融資成功定價。</p>
</div><p>The financing supports the development of a next-generation, liquid-cooled AI data center delivering up to 240 MW of gross power capacity (168 MW of critical IT load) under a long-term hosting structure with investment-grade credit support. The financing benefits from long-term credit enhancement provided through Fluidstack’s platform by a leading global hyperscale partner, materially strengthening the project’s credit profile and supporting efficient capital formation.</p>
<div class="lb-trans"><p>該融資支持開發下一代液冷人工智能數據中心，提供高達 240 MW 的總電力容量（168 MW 的關鍵 IT 負載），並在長期託管結構下提供投資級信用支持。該融資受益於通過 Fluidstack 平台由領先的全球超大規模合作伙伴提供的長期信用增強，實質性增強了項目的信用狀況，並支持高效的資本形成。</p>
</div><p>Proceeds will be used to fund construction, establish required reserves, and complete delivery of the facility, which remains on track for commissioning in the second half of 2026.</p>
<div class="lb-trans"><p>融資所得將用於資助建設、建立所需儲備，並完成設施的交付，該設施仍按計劃在 2026 年下半年投入使用。</p>
</div><p><strong>A Scalable Partnership Positioned for Sustained HPC Demand</strong></p>
<div class="lb-trans"><p><strong>可擴展的合作伙伴關係，適應持續的 HPC 需求</strong></p>
</div><p>The Abernathy project reflects the continued evolution of the TeraWulf–Fluidstack partnership, built on repeatable site design, disciplined capital formation, and efficient delivery of large-scale AI infrastructure. Together, the parties bring deep experience across development, financing, construction, and operations – enabling rapid deployment of capacity at scale.</p>
<div class="lb-trans"><p>阿伯納西項目反映了 TeraWulf 與 Fluidstack 合作關係的持續演變，建立在可重複的場地設計、嚴謹的資本形成和高效的大規模人工智能基礎設施交付之上。雙方在開發、融資、建設和運營方面擁有深厚的經驗，使得大規模快速部署成為可能。</p>
</div><p>Demand for high-performance HPC compute continues to grow at a pace that requires multiple sourcing paths and diverse infrastructure partners. Fluidstack’s platform serves a broad and expanding customer base, and capacity procurement is driven by a combination of time-to-market, total cost, reliability, and execution certainty. Within this environment, the Abernathy campus is positioned as a highly competitive solution given its scale, power availability, and advanced design.</p>
<div class="lb-trans"><p>高性能 HPC 計算的需求繼續以需要多種採購路徑和多樣化基礎設施合作伙伴的速度增長。Fluidstack 的平台服務於廣泛且不斷擴大的客户基礎，容量採購受到市場時間、總成本、可靠性和執行確定性的驅動。在這種環境下，阿伯納西校園因其規模、電力可用性和先進設計而被定位為一個高度競爭的解決方案。</p>
</div><p>In addition to the initial 168 MW phase, the joint venture retains the ability to expand capacity beyond the initial build, leveraging existing transmission, land, and development infrastructure to support incremental, high-density deployments as market demand continues to scale.</p>
<div class="lb-trans"><p>除了初始的 168 MW 階段外，合資企業還保留了在初始建設之外擴展容量的能力，利用現有的傳輸、土地和開發基礎設施來支持隨着市場需求持續增長的增量高密度部署。</p>
</div><p><strong>Early Leadership, Improving Economics</strong></p>
<div class="lb-trans"><p><strong>早期領導，改善經濟</strong></p>
</div><p>TeraWulf and Fluidstack have been early leaders in structuring and financing AI compute infrastructure, including executing one of the first large-scale transactions where the infrastructure owner funded the majority of development capital, establishing an early strategic relationship between the parties, and completing one of the first project financings of its kind in the AI colocation market.</p>
<div class="lb-trans"><p>TeraWulf 和 Fluidstack 在構建和融資人工智能計算基礎設施方面一直是早期領導者，包括執行首個大型交易之一，其中基礎設施所有者資助了大部分開發資本，建立了雙方之間的早期戰略關係，並完成了人工智能共置市場中首個此類項目融資之一。</p>
</div><p>As AI demand has accelerated and available capacity has tightened, market terms have continued to improve, particularly for owners with scalable sites and execution-ready platforms. The Company expects to deploy an incremental 250 MW – 500 MW of HPC capacity annually and has already secured more than 500 MW to date. With a substantial portion of its pipeline still available for contracting, the Company views the current market environment as increasingly favorable.</p>
<div class="lb-trans"><p>隨着人工智能需求的加速和可用容量的緊縮，市場條款持續改善，特別是對於擁有可擴展場地和準備執行平台的所有者。公司預計每年將部署額外的 250 MW 至 500 MW 的 HPC 容量，並且迄今已確保超過 500 MW。由於其管道中仍有大量可供合同的部分，公司認為當前市場環境越來越有利。</p>
</div><p><strong>Leadership Commentary</strong></p>
<div class="lb-trans"><p><strong>領導者評論</strong></p>
</div><p>“This financing represents another important step in scaling a platform that was designed from the outset to grow,” said Paul Prager, Chief Executive Officer of TeraWulf. “We focused early on building sites, relationships, and structures that could adapt as the AI market evolved. Today’s environment validates that approach.”</p>
<div class="lb-trans"><p>“這項融資代表了在一開始就設計為可擴展的平台的又一步重要進展，” TeraWulf 首席執行官 Paul Prager 表示。“我們早期專注於建立能夠隨着人工智能市場演變而適應的場地、關係和結構。今天的環境驗證了這種方法。”</p>
</div><p>“Fluidstack is pleased to build on its existing partnership with TeraWulf through this financing for our Abernathy project,&#34; said Gary Wu, CEO and Co-Founder of Fluidstack. &#34;This partnership strengthens our shared ambition to shape and deliver more next-generation capacity in our next joint venture development.&#34;</p>
<div class="lb-trans"><p>“Fluidstack 很高興通過這項融資在阿伯納西項目上與 TeraWulf 建立現有合作伙伴關係，” Fluidstack 首席執行官兼聯合創始人 Gary Wu 表示。“這一合作伙伴關係加強了我們共同的願望，以在下一個合資開發中塑造和交付更多下一代容量。”</p>
</div><p><strong>About</strong> <strong>TeraWulf</strong></p>
<div class="lb-trans"><p><strong>關於</strong> <strong>TeraWulf</strong></p>
</div><p>TeraWulf develops, owns, and operates environmentally sustainable, industrial-scale data center infrastructure in the United States, purpose-built for high-performance computing (HPC) hosting and bitcoin mining. Led by a team of veteran energy infrastructure entrepreneurs, TeraWulf is committed to delivering scalable, low-carbon compute capacity for next-generation AI and HPC customers.</p>
<div class="lb-trans"><p>TeraWulf 在美國開發、擁有和運營環保的工業規模數據中心基礎設施，專門用於高性能計算（HPC）託管和比特幣挖礦。TeraWulf 由一支經驗豐富的能源基礎設施企業家團隊領導，致力於為下一代人工智能和 HPC 客户提供可擴展的低碳計算能力。</p>
</div><p><strong>Forward-Looking</strong> <strong>Statements</strong></p>
<div class="lb-trans"><p><strong>前瞻性</strong> <strong>聲明</strong></p>
</div><p>This press release contains forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, as amended. Such forward-looking statements include statements concerning anticipated future events and expectations that are not historical facts. All statements, other than statements of historical fact, are statements that could be deemed forward-looking statements. In addition, forward-looking statements are typically identified by words such as “plan,” “believe,” “goal,” “target,” “aim,” “expect,” “anticipate,” “intend,” “outlook,” “estimate,” “forecast,” “project,” “seek,” “continue,” “could,” “may,” “might,” “possible,” “potential,” “strategy,” “opportunity,” “predict,” “should,” “would” and other similar words and expressions, although the absence of these words or expressions does not mean that a statement is not forward-looking. Forward-looking statements are based on the current expectations and beliefs of TeraWulf’s management and are inherently subject to a number of factors, risks, uncertainties and assumptions and their potential effects. There can be no assurance that future developments will be those that have been anticipated. Actual results may vary materially from those expressed or implied by forward-looking statements based on a number of factors, risks, uncertainties and assumptions, including, among others: (1) the ability to mine bitcoin profitably; (2) TeraWulf’s ability to attract additional customers to lease its HPC data centers; (3) TeraWulf’s ability to perform under its existing data center lease agreements; (4) changes in applicable laws, regulations and/or permits affecting TeraWulf’s operations or the industries in which it operates; (5) the ability to implement certain business objectives, including its bitcoin mining and HPC data center development, and to timely and cost-effectively execute related projects; (6) failure to obtain adequate financing on a timely basis and/or on acceptable terms with regard to expansion or existing operations; (7) adverse geopolitical or economic conditions, including a high inflationary environment, the implementation of new tariffs and more restrictive trade regulations; (8) the potential of cybercrime, money-laundering, malware infections and phishing and/or loss and interference as a result of equipment malfunction or break-down, physical disaster, data security breach, computer malfunction or sabotage (and the costs associated with any of the foregoing); (9) the availability and cost of power as well as electrical infrastructure equipment necessary to maintain and grow the business and operations of TeraWulf; and (10) other risks and uncertainties detailed from time to time in TeraWulf’s filings with the Securities and Exchange Commission (“SEC”). Potential investors, stockholders and other readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date on which they were made. TeraWulf does not assume any obligation to publicly update any forward-looking statement after it was made, whether as a result of new information, future events or otherwise, except as required by law or regulation. Investors are referred to the full discussion of risks and uncertainties associated with forward-looking statements and the discussion of risk factors contained in TeraWulf’s filings with the SEC, which are available at www.sec.gov.</p>
<div class="lb-trans"><p>本新聞稿包含根據 1995 年《私人證券訴訟改革法案》（經修訂）“安全港” 條款的定義所作的前瞻性聲明。這些前瞻性聲明包括關於預期未來事件和期望的陳述，而這些並非歷史事實。除歷史事實陳述外的所有陳述均可視為前瞻性聲明。此外，前瞻性聲明通常通過 “計劃”、“相信”、“目標”、“瞄準”、“期望”、“預期”、“打算”、“展望”、“估計”、“預測”、“項目”、“尋求”、“繼續”、“可能”、“或許”、“潛在”、“戰略”、“機會”、“預測”、“應該”、“會” 等詞語和表達來識別，儘管缺乏這些詞語或表達並不意味着某一聲明不是前瞻性的。前瞻性聲明基於 TeraWulf 管理層當前的期望和信念，固有地受到多種因素、風險、不確定性和假設及其潛在影響的制約。無法保證未來的發展將如預期那樣。實際結果可能因多種因素、風險、不確定性和假設而與前瞻性聲明中表達或暗示的結果有重大差異，包括但不限於：（1）盈利性挖掘比特幣的能力；（2）TeraWulf 吸引額外客户租賃其高性能計算（HPC）數據中心的能力；（3）TeraWulf 在現有數據中心租賃協議下履行的能力；（4）影響 TeraWulf 運營或其所處行業的適用法律、法規和/或許可證的變化；（5）實施某些商業目標的能力，包括比特幣挖掘和 HPC 數據中心開發，以及及時和高效地執行相關項目的能力；（6）未能及時獲得足夠的融資和/或在可接受的條款下進行擴展或現有運營；（7）不利的地緣政治或經濟條件，包括高通脹環境、新關税的實施和更嚴格的貿易法規；（8）網絡犯罪、洗錢、惡意軟件感染和網絡釣魚的潛在風險，以及由於設備故障、自然災害、數據安全漏洞、計算機故障或破壞（以及與上述任何情況相關的費用）造成的損失和干擾；（9）維持和發展 TeraWulf 業務和運營所需的電力及電氣基礎設施設備的可用性和成本；（10）TeraWulf 在美國證券交易委員會（“SEC”）的文件中不時詳細列出的其他風險和不確定性。潛在投資者、股東和其他讀者被警告不要對這些前瞻性聲明過度依賴，這些聲明僅在作出時有效。TeraWulf 不承擔在作出後公開更新任何前瞻性聲明的義務，無論是由於新信息、未來事件還是其他原因，法律或法規另有要求的情況除外。投資者可參考 TeraWulf 在 SEC 的文件中關於前瞻性聲明相關風險和不確定性的完整討論，以及風險因素的討論，這些文件可在 www.sec.gov 獲取。</p>
</div><p><strong>Contacts</strong></p>
<div class="lb-trans"><p><strong>聯繫方式</strong></p>
</div><p>Investors: investors@terawulf.com</p>
<div class="lb-trans"><p>投資者：investors@terawulf.com</p>
</div><p>Media: media@terawulf.com</p>
<div class="lb-trans"><p>媒體：media@terawulf.com</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://www.globenewswire.com/newsroom/ti/query-bmY9T1RZd05EZzNOU00zTXpJNU9EWTNJekl5TlRreU56WT0" alt="" original-src="https://www.globenewswire.com/newsroom/ti?nf=OTYwNDg3NSM3MzI5ODY3IzIyNTkyNzY="/></p>
<p><img src="https://imageproxy.pbkrs.com/https://ml.globenewswire.com/media/Y2Q4ZTUzYjQtMWY5Yi00ZGQyLWE4YzgtNWNjNDkzNDQ4MGMxLTEyNzA4MjYtMjAyNS0xMi0xOC1lbg==/tiny/Terawulf-Inc-.png" alt="" original-src="https://ml.globenewswire.com/media/Y2Q4ZTUzYjQtMWY5Yi00ZGQyLWE4YzgtNWNjNDkzNDQ4MGMxLTEyNzA4MjYtMjAyNS0xMi0xOC1lbg==/tiny/Terawulf-Inc-.png"/></p>

Terawulf 和 Fluidstack 宣佈成功為 168 兆瓦高性能計算合資項目融資定價 | WULF 股票新聞