Reston – December 17, 2025 – Cooley advised Fluidstack, a premier artificial intelligence (AI) cloud platform, on its 15-year, $7 billion lease with 245 megawatts (MW) of IT capacity with Hut 8. The agreement includes three 5-year renewal options that increase the potential contract value to approximately $17.7 billion. The agreement also grants Fluidstack a right of first offer for up to an additional 1,000 MW of IT capacity at future expansion phases of the campus, subject to the expansion of power at the site.

Lawyers Michelle Schulman, Daniel Goldberger, Adrienne Deshmukh, Katie Adams, Cameron Johnson, Alanna Zuchelli, Peter Crain and Mark Looney led the Cooley team advising Fluidstack.

Cooley has represented Fluidstack since 2024, including its joint venture with TeraWulf in October 2025, its $3 billion data center lease agreement with Cipher Mining in September 2025 and three data center lease agreements with TeraWulf in August 2025.

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