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Photo Credits: TeraWulf
Crypto miner TeraWulf is suddenly in the spotlight after announcing a major partnership that drew in one of the world’s biggest tech names. Nasdaq-listed TeraWulf (WULF) revealed that Google has taken a large stake in the company following a 10-year AI-hosting agreement with Fluidstack.
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The deal links two high-growth industries: Bitcoin mining and artificial intelligence. TeraWulf, already the fifth largest Bitcoin miner in the world with a market cap above $3.4 billion, is betting on its infrastructure to meet rising AI demand. Fluidstack will use the company’s facilities to deploy and manage high-performance GPU clusters for AI workloads.
Markets quickly responded when the partnership was announced on August 14. TeraWulf stock doubled in value in one day, spiking from $5.24 to $10.54 before cooling to around $8.78 at press time. The surge highlights how investors see Google’s involvement as a strong validation of TeraWulf’s expansion strategy.
CEO Paul Prager described the moment as transformative:
“This is a defining moment for TeraWulf… We are proud to unite world-class capital and compute partners to deliver the next generation of AI infrastructure, powered by low-cost, predominantly zero-carbon energy. This transaction underscores Lake Mariner’s status as a premier hyperscale-ready campus and further accelerates our strategic expansion into high-performance compute.”
Google agreed to provide $1.8 billion to secure Fluidstack’s lease obligations, taking its payment in TeraWulf shares. With about 41 million shares, Google instantly became the largest holder of WULF stock. For context, Google itself is valued at over $2.4 trillion, with GOOG shares trading near record highs around $202.4 at time of writing.