Bitcoin mining company TeraWulf experiences a 40% increase in value
In a significant move, TeraWulf, a Bitcoin mining and high-performance computing specialist, has signed two 10-year agreements worth $3.7 billion with Fluidstack, a subsidiary backed by Alphabet (Google). This strategic pivot marks TeraWulf's transition from cryptocurrency mining to becoming a major player in AI infrastructure and high-performance computing (HPC).
Under these agreements, TeraWulf will provide over 200 megawatts of critical IT capacity at the Lake Mariner site in West New York. The deals will boost Fluidstack’s total contracted capacity to about 360 MW at TeraWulf’s Lake Mariner campus in New York, making it one of the largest HPC campuses in the U.S.
Alphabet is financially backing $1.8 billion of Fluidstack’s lease obligations and in return received warrants that could give it about an 8% stake in TeraWulf initially. Google increased its investment, providing an additional $1.4 billion backstop and raising its total commitment to around $3.2 billion. This expanded Google’s stake in TeraWulf to approximately 14% via warrants for an additional 32.5 million shares.
The agreements include options for two five-year extensions, potentially increasing contract revenue from $3.7 billion up to $8.7 billion. The first 40 MW of IT capacity is planned for mid-2026, with the rest to follow by the end of next year.
TeraWulf's CEO highlighted that this transaction accelerates their strategic expansion into high-performance compute, targeting AI workloads and positioning the company as a competitor to other AI infrastructure providers like CoreWeave. The partnership underscores a move toward carbon-free power and sustainable HPC solutions, aligning with Google’s interest in green energy for AI data centers.
TeraWulf reported a strong Q2 2025 with a 34% year-over-year revenue increase to $47.6 million, benefiting from both cryptocurrency mining and expanding AI infrastructure. The surge in TeraWulf's stock price, which reached its highest level since January, was due to this 10-year deal in the AI hosting sector with Google's subsidiary, Alphabet.
In addition to this transformation, DER AKTIONÄR, a financial news service, has also favoured Alphabet's stock as a buy. A monthly subscription to DER AKTIONÄR costs 19.90 euros for the first 4 issues, offering immediate implementation of trading recommendations and the current e-paper issue of DER AKTIONÄR. Subscribing to DER AKTIONÄR allows investors to stay updated with the latest trading recommendations and market insights.
Since the recommendation in issue 17/25, Alphabet's stock has gained 24%. However, it has only gained around seven percent since the beginning of the year. Despite the deal with Google, DER AKTIONÄR still favours Riot Platforms over TeraWulf.
[1] TeraWulf Press Release, 2025 [2] Fluidstack Press Release, 2025 [3] TeraWulf Q2 2025 Earnings Report, 2025 [4] Alphabet Financial Disclosure, 2025 [5] Google Sustainability Report, 2025
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