TeraWulf & Google Partner: AI Deal Boosts Bitcoin Mining Giant's Stock
TeraWulf, the fifth largest Bitcoin miner globally, has announced a significant partnership with tech giant Google. The deal, which involves a 10-year AI-hosting agreement between TeraWulf and Fluidstack, is set to accelerate TeraWulf's expansion into high-performance compute.
TeraWulf, with a market cap above $3.4 billion, operates Lake Mariner, a zero-carbon powered data center campus in New York. The partnership links the Bitcoin mining and artificial intelligence industries, marking a strategic move for the company.
Google has provided $1.8 billion to secure Fluidstack's lease obligations, taking payment in TeraWulf shares. This investment has made Google the largest shareholder in TeraWulf, owning roughly 41 million shares. The news of this partnership has doubled TeraWulf's stock value.
TeraWulf CEO Paul Prager has hailed this partnership as a 'defining moment' for the company, indicating its potential to drive growth and innovation in both Bitcoin mining and AI sectors. The 10-year agreement with Fluidstack and Google's substantial investment signal a promising future for TeraWulf.
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