Google investment sends Bitcoin miner TeraWulf stock up 55%
Shares of Bitcoin miner TeraWulf jumped more than 55% after Google acquired an 8% stake in the company as part of a 10-year AI computing deal.
TeraWulf will provide Fluidstack with 200 megawatts of computing capacity by the end of 2026 at its western New York data centre, powered by hydroelectric and nuclear energy.
In return, Google will fund Fluidstack’s lease obligations up to $1.8 billion and receive warrants for an 8% equity stake in TeraWulf.
According to TeraWulf’s press release, the total contract revenue from the deals will amount to $3.7 billion over the initial 10 years, with two optional five-year extensions worth an additional $5 billion, bringing the total to $8.7 billion.
Google’s boost for capacity expansion
The company expects 40 MW to come online in the first half of 2026, with all 200 MW deployed by year-end. Fluidstack provides single-tenant GPU clusters for AI training and inference to clients such as Mistral AI and Black Forest Labs.
According to TeraWulf’s latest earnings report released last week, the company recorded a net loss of more than $79 million in the first six months of the year.
30 minute chart of TeraWolf stock. Source: Trading View
Following news of the Google deal, TeraWulf shares surged over 56%, trading at $8.55 compared to the previous close of $5.46.
As we wrote, Alphabet Inc. stock gains 0.17% as Google announces expanded AI features for Workspace and Cloud
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