Unveiling the intricate corporate structure of a $3.2 billion AI data center

In early June, a fire erupted at the Lake Mariner data center in Somerset, New York, revealing significant safety concerns. The incident occurred in an unfinished building, where firefighters encountered no working alarm, no suppression system, and three non-functional hydrants. Steve Matisz, chief of the Barker Fire Department, described the situation as 'kind of blind,' noting the heavy black smoke and the absence of safety documents that had reportedly burned in the fire. The site, a former coal mine on Lake Ontario, is home to a $3.2 billion AI data center, one of the largest in New York. The facility is owned and operated by TeraWulf, which leases the land from a company owned by its own CEO. Fluidstack, a UK-based AI company, will manage the center, while Google has agreed to guarantee Fluidstack’s lease payments and holds warrants for a potential 14 percent equity stake. Anthropic is among the AI companies that will benefit from the facility’s compute capacity.