Google Boosts Stake in TeraWulf, Backing $3.7 Billion AI Infrastructure Deal

TeraWulf stock jumps more than 10% as Google boosts stake in datacenter operator

As part of the deal, Google will offer up to $1.4 billion in additional backstop, bringing its total to about $3.2 billion. It hikes Google's stake in TeraWulf to 14% from 8% and enables the company to buy about 32.5 million shares of the company's stock. CEO Paul Prager said in a release that the agreement solidifies the company's "strategic alignment with Google" to help build advanced artificial intelligence infrastructure. Last week, shares skyrocketed after the company inked two 10-year computing deals with AI cloud provider Fluidstack to offer more than 200 megawatts of capacity at its Lake Mariner datacenter space in Western New York.

Bitcoin Miner TeraWulf's Stock Surges as Google Ups Its Stake in the Company - Decrypt

Terawulf stock (NASDAQ: WULF) surged more than 12% Monday after the Bitcoin miner said it was expanding and that Google was upping its stake in the company. The Easton, Maryland-based firm said that Google will provide an incremental $1.4 billion backstop to support project-related debt financing, bringing its total stake to $3.2 billion. In exchange, Google will receive warrants to buy 32.5 million shares of the sustainable Bitcoin miner. The latest agreement increases the tech giant's pro forma equity stake to 14% from a previously announced 8% share. Terawulf will also build a new data center, dubbed CB-5, with help from AI cloud platform Fluidstack. Terawulf last week signed two 10-year computing deals with AI cloud provider Fluidstack to offer more than 200 megawatts of capacity at its Lake Mariner datacenter space. WULF was recently trading at $10.06 per share Monday morning Eastern Time, according to Yahoo Finance. Over the past week, the stock is up by nearly 86%. "By adding CB-5, we are not only increasing our contracted capacity with Fluidstack, but also further deepening our strategic alignment with Google as a critical financial partner in delivering the next generation of AI infrastructure," Terawulf CEO Paul Prager said in a statement. Terrawulf is a Bitcoin miner that also works in the AI space. Both crypto mining and the AI space use huge amounts of energy; when BTC's price falls and minting new digital coins isn't generating enough revenue, some miners have pivoted their infrastructure to address AI demand. Two firms, BitMine Immersion and Bit Digital have shifted their focus entirely to create Ethereum treasuries. Experts previously told Decrypt that the AI business isn't necessarily easy for Bitcoin miners to pivot because it requires different infrastructure and various adjustments in technology.

Google increases TeraWulf stake to 14%, becoming largest shareholder

TeraWulf's chief strategy officer, Kerri Langlais, says Google has become its largest shareholder, providing "powerful validation" from a leading tech giant. Tech giant Google has become the largest shareholder of TeraWulf, holding 14% of shares, after receiving more stock in exchange for increasing its backstop in the lease deal between the Bitcoin miner and AI infrastructure provider Fluidstack. TeraWulf disclosed in a shareholder call on Thursday that it inked a 10-year colocation lease agreement with Fluidstack. Google is supporting the lease obligations through a financial guarantee known as a backstop and receiving warrants to purchase shares in return. Speaking to Cointelegraph, Kerri Langlais, the chief strategy officer of TeraWulf, said Google's backstop in the agreement has now increased to $3.2 billion total in return for warrants to purchase over 73 million shares in TeraWulf, representing a 14% stake in the company. Langlais added that Google's new equity makes it TeraWulf's largest shareholder, providing a "powerful validation from one of the world's leading technology companies," and highlighting "the strength of our zero-carbon infrastructure and the scale of the opportunity ahead." TerraWulf said in a statement on Monday that Fluidstack exercised an option in the deal to expand at TeraWulf's Lake Mariner data center campus in New York with a new purpose-built data center, due to start operation in the second half of 2026. Langlais told Cointelegraph the financial backstop supports Fluidstack's long-term lease commitments at Lake Mariner, and if the AI company could not meet its financial obligations, Google would step in with the $3.2 billion. "This is not a guarantee of TeraWulf's corporate debt, nor do we have access to those funds," she said. "The backstop is tied exclusively to contracted AI and high-powered computing lease revenues and is unrelated to our Bitcoin mining operations." A growing number of Bitcoin (BTC) miners have been diversifying income streams by shifting their energy capacity toward AI and high-power computing (HPC) hosting services after the April 2024 halving cut mining rewards to 3.125 Bitcoin, hurting overall profitability. Langlais said in the future, TeraWulf plans to maintain, but not expand, its Bitcoin mining platform at Lake Mariner, with a focus on "execution: building, hosting, and delivering for our partners and our shareholders." "In the near term, mining generates cash flow and provides a valuable resource to the electrical grid, as its flexible load can be rapidly adjusted to support stability and reliability." However, over the medium to long term, the firm sees "greater value in transitioning those megawatts" to AI and HPC workloads, where long-term contracted revenues with blue-chip partners such as Fluidstack and Google "will drive growth and value creation." In an August 2024 report, asset manager VanEck estimated that if publicly traded Bitcoin mining companies shifted 20% of their energy capacity to AI and HPC by 2027, they could increase additional yearly profits by $13.9 billion over 13 years. TeraWulf has projected its agreement with Fluidstack to generate $6.7 billion in revenue, potentially reaching $16 billion through lease extensions. In the Monday trading session, TeraWulf's stock (WULF) staged a rally to $10.57, representing a 17% increase over the previous close of $8.97. Related: Bitcoin miner BitFuFu mines 445 BTC for its biggest production month However, by the end of the session, the miners' share price had settled at $9.38 and lost a further 1.28% after the bell. Since TeraWulf first announced its agreement with Fluidstack on Thursday, its stock price has registered a more than 72% gain in the last five days.

TeraWulf secures $3.7B AI hosting deal backed by Google, shares soar

The Bitcoin miner's pivot into AI infrastructure hosting includes a decade-long colocation agreement with Fluidstack, backed by Alphabet's Google. TeraWulf has become the latest cryptocurrency miner to pivot into AI infrastructure hosting, reaching a long-term agreement with Fluidstack that's backstopped by Alphabet's Google -- in a move expected to significantly increase the company's revenue run rate. During its shareholder call on Thursday, the company disclosed that it has signed 10-year colocation lease agreements with Fluidstack, an AI infrastructure provider, worth $3.7 billion in contract revenue. That figure could more than double if five-year extensions are exercised. Google's involvement comes through supporting Fluidstack's $1.8 billion lease obligations with TeraWulf and providing debt financing. In return, Google received warrants for roughly 41 million WULF shares, representing about 8% of the company. The deal will expand TeraWulf's data center capacity in New York by more than 200 megawatts of IT load. "Given the expected improvement in our credit profile, we've refined our financing strategy to focus on a series of capital markets initiatives [...] with the benefit of our new financial support from Google and our updated lease agreements," TerraWulf Chief Financial Officer Patrick Fleury told shareholders. TeraWulf, founded in 2021 as a Bitcoin (BTC) mining company focused on environmentally sustainable operations, has faced mounting challenges in the post-halving environment. In the first quarter, the company reported a net loss of $61.4 million alongside a sharp drop in revenue. Companywide financials improved in the second quarter, as TeraWulf returned to profitability and posted higher revenues compared with the first quarter. Volatile BTC prices and rising infrastructure costs have made Bitcoin mining economics increasingly difficult, prompting more companies to diversify into AI and high-performance computing to stabilize revenue. Related: Jack Dorsey's Block targets 10-year lifecycle for Bitcoin mining rigs TeraWulf's latest business deal sparked a sharp rally in its share price on Thursday. WULF shares jumped as much as 48% intraday to a high of $8.11, with trading volume more than quadrupling the daily average, according to Yahoo Finance data. The stock last traded around $7.50, up 37% on the day, giving the company a market capitalization of nearly $3 billion. The rebound has pushed WULF back into positive territory for the year. While TeraWulf is pivoting into AI infrastructure, it remains, for now, a crypto proxy stock -- a status underscored by its continued mining operations. In the second quarter, the company self-mined 485 BTC, down from 699 in the same period a year earlier. At the end of Q2, TeraWulf held $90 million in cash, cash equivalents and Bitcoin.

Google bets big on Bitcoin: Joins $3.7 billion deal that sends TeraWulf stock soaring 45%

TeraWulf stock news today: TeraWulf is having a moment. The bitcoin mining and high-performance computing (HPC) infrastructure company saw its stock rocket more than 45% this week after locking in a massive 10-year AI hosting agreement and landing a major backer in Google, as per a report. On Thursday, TeraWulf (WULF) announced it had signed two long-term co-location agreements with Fluidstack, an AI cloud platform operator, as per an IBD report. Under the deal, more than 200 megawatts of critical IT load will be deployed at TeraWulf's Lake Mariner data center campus in Western New York, according to the report. The scale of the agreement is enormous: the 10-year contracts represent $3.7 billion in revenue for TeraWulf, with two, five-year extension options that could bring that total up to $8.7 billion, as reported by IBD. ALSO READ: Stranded by the Air Canada strike? Here's what passengers must know about refunds and rights According to the IBD report, Google has revealed its plans to backstop $1.8 billion of Fluidstack's lease obligations, supporting both the buildout and associated debt financing. In return, Google will receive about 41 million shares of TeraWulf stock, which is approximately an 8% stake in the company, as reported by IBD. Following the announcement, WULF stock soared more than 25% on Thursday to its highest level since January, according to the report. The company has now rallied 165% from its April lows, although it remains slightly down for the year through Wednesday, as reported by IBD. For TeraWulf, it's a massive validation of its strategy to combine bitcoin mining with industrial-scale AI infrastructure, according to the report. It expects to deliver 40 MW of IT load in the first half of 2026, with the rest coming online by year's end, as reported by IBD. ALSO READ: As the July jobs report paints a grim picture, 114 companies plan layoffs in August - is yours on the list? Analysts took notice as research firm Clear Street called the Fluidstack agreements "transformative," noting the deal boosts TeraWulf's visibility on future growth and profitability, according to the report. The firm has a "buy" rating on the stock and a $9 price target, as per the IBD. Google, meanwhile, saw its shares dip slightly on Thursday, though it's still up 6% for the year, according to the report. ALSO READ: China's job crisis spurs bizarre trend: Young Chinese pay companies just to pretend they have a job -- here's why Why did TeraWulf stock go up? Because the company signed a major 10-year deal with Fluidstack and got a big investment from Google. What's Google's role in this? Google is backing $1.8 billion of Fluidstack's lease obligations and getting an 8% stake in TeraWulf.

Why Is TeraWulf Stock Falling Monday? - TeraWulf (NASDAQ:WULF)

TeraWulf WULF, an operator of vertically integrated, predominantly zero-carbon digital infrastructure, launched a private offering of $400 million aggregate principal amount of convertible senior notes due 2031. The company may also grant initial purchasers a 13-day option to buy up to an additional $60 million of notes. TeraWulf plans to use the proceeds primarily to fund capped call transactions to reduce dilution from potential note conversions. Also Read: TeraWulf Climbs Despite Q1 Stumble, Analyst Expects Mining, Data Center Gains It will allocate the remaining proceeds toward expanding its data centers and supporting general corporate purposes. The notes will be senior unsecured obligations, paying semiannual interest starting March 1, 2026, and maturing September 1, 2031. Regarding pricing, TeraWulf expects to enter into capped call transactions with financial institutions to mitigate dilution from potential conversions. Separately, TeraWulf announced that Fluidstack has expanded its footprint at the Lake Mariner data center campus in Western New York. The expansion introduces CB-5, a new purpose-built data center that will add 160 MW of critical IT load when operations begin in the second half of 2026. As part of the CB-5 lease, Alphabet's GOOGL GOOG Google committed an additional $1.4 billion to backstop project-related debt financing and secured warrants to purchase 32.5 million TeraWulf shares. This new commitment raises Google's total backstop to $3.2 billion and expands its pro forma equity stake in TeraWulf to about 14%. The CB-5 lease mirrors the economics of Fluidstack's earlier CB-3 and CB-4 agreements, ensuring consistent terms across the Lake Mariner buildout. With CB-5, TeraWulf boosts Fluidstack's total contracted capacity to approximately 360 MW, making Lake Mariner one of the largest high-performance computing campuses in the United States. TeraWulf and Fluidstack are also discussing further expansions to meet growing AI demand. TeraWulf stock has gained close to 59% year-to-date and over 78% in the last five days upon the Google deal. TeraWulf shares extended their rally last Friday after the company cemented a landmark deal, strengthening its role in artificial intelligence infrastructure. The stock jumped more than 40% in last Thursday's midday trading and has climbed 78% since Monday's open. On Thursday, TeraWulf signed two 10-year high-performance computing (HPC) colocation agreements with Fluidstack, locking in approximately $3.7 billion in contracted revenue. Under the agreements, TeraWulf will supply more than 200 MW of power from its Lake Mariner data center in New York, with extension options that could lift the contract's total value to $8.7 billion. Google fueled momentum by backing $1.8 billion of Fluidstack's lease obligations and securing warrants for an 8% equity stake in TeraWulf. The announcement followed a stronger-than-expected quarterly report. TeraWulf reported a second-quarter loss of 5 cents per share, beating the 7-cent loss forecast. Sales reached $47.64 million, above the $46.08 million estimate. CEO Paul Prager also pointed to integrating Beowulf Electricity & Data to streamline operations and cut costs. Price Action: WULF stock is trading lower by 4.01% to $8.620 premarket at last check Monday. Read Next: T1 Energy Strikes Corning Partnership, Targets 6,000 US Jobs In Solar Push Photo by Gorodenkoff via Shutterstock WULFTeraWulf Inc$9.9811.3%Stock Score Locked: Want to See it? Benzinga Rankings give you vital metrics on any stock - anytime. Reveal Full ScoreEdge RankingsMomentum95.54GrowthN/AQualityN/AValue9.82Price TrendShortMediumLongOverviewGOOGAlphabet Inc$205.200.14%GOOGLAlphabet Inc$204.280.19%Market News and Data brought to you by Benzinga APIs

TeraWulf Stock (WULF) Soars This Week On $3.7B AI Deal Backed By Google - TeraWulf (NASDAQ:WULF)

Terawulf Inc WULF shares are continuing their rally on Friday, building on recent gains after the company announced a significant deal positioning it as a key player in the artificial intelligence infrastructure space. The stock surged over 40% during midday trading on Thursday following the news and is higher by 78% since Monday's session open. What To Know: On Thursday, TeraWulf revealed two 10-year high-performance computing (HPC) colocation agreements with Fluidstack. These agreements represent approximately $3.7 billion in contracted revenue and involve supplying over 200 MW of power from TeraWulf's Lake Mariner data center in New York. The deal includes extension options that could increase the total contract value to $8.7 billion. Fueling investor excitement, Alphabet Inc's GOOGL GOOG Google is backing $1.8 billion of Fluidstack's lease obligations and will receive warrants to acquire an approximate 8% equity stake in TeraWulf. This strategic alignment with a global AI leader provides a significant vote of confidence. The announcement comes on the heels of a strong financial report last week. For the second quarter, TeraWulf posted a loss of 5 cents per share, beating the consensus estimate for a loss of 7 cents. Sales also topped expectations at $47.64 million versus a $46.08 million estimate. Adding to the catalysts, CEO Paul Prager highlighted the recent integration of his former energy firm, Beowulf Electricity & Data, a move expected to streamline operations and reduce costs. Price Action: According to data from Benzinga Pro, WULF shares are trading higher by 2.6% to The stock has a 52-week high of and a 52-week low of Read Also: US Retail Sales Rise In July As Consumers Spend Despite Tariffs How To Buy WULF Stock By now you're likely curious about how to participate in the market for TeraWulf - be it to purchase shares, or even attempt to bet against the company. Buying shares is typically done through a brokerage account. You can find a list of possible trading platforms here. Many will allow you to buy "fractional shares," which allows you to own portions of stock without buying an entire share. If you're looking to bet against a company, the process is more complex. You'll need access to an options trading platform, or a broker who will allow you to "go short" a share of stock by lending you the shares to sell. The process of shorting a stock can be found at this resource. Otherwise, if your broker allows you to trade options, you can either buy a put option, or sell a call option at a strike price above where shares are currently trading - either way it allows you to profit off of the share price decline. Image: Shutterstock WULFTeraWulf Inc$8.790.86%Stock Score Locked: Want to See it? Benzinga Rankings give you vital metrics on any stock - anytime. Reveal Full ScoreEdge RankingsMomentum97.09GrowthN/AQualityN/AValue9.75Price TrendShortMediumLongOverviewGOOGAlphabet Inc$205.330.74%GOOGLAlphabet Inc$204.290.67% This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors. Market News and Data brought to you by Benzinga APIs

Why Is TeraWulf Stock Trading Higher Today - TeraWulf (NASDAQ:WULF)

TeraWulf Inc. WULF announced two 10-year high-performance computing (HPC) colocation agreements with Fluidstack on Thursday. TeraWulf develops, owns, and operates industrial-scale data center infrastructure in the U.S., purpose-built for high-performance computing (HPC) hosting and Bitcoin BTC/USD mining. Under the agreements, TeraWulf will deliver more than 200 MW of critical IT load (representing approximately 250 MW of gross capacity) at its Western New York Lake Mariner data center campus. The facility is purpose-built for liquid-cooled AI workloads. Also Read: Bitcoin Touches $122,00 As Total Crypto Market Cap Nears $4.2 Trillion The agreements represent approximately $3.7 billion in contracted revenue over the initial 10-year terms and include two five-year extension options that would bring the total contract revenue to approximately $8.7 billion if exercised. Alphabet Inc's GOOGL GOOG Google will backstop $1.8 billion of Fluidstack's lease obligations to support project-related debt financing. Google will receive warrants to acquire approximately 41 million shares of TeraWulf common stock, equating to an approximately 8% pro forma equity ownership stake -- aligning TeraWulf with one of the most influential global AI partners. TeraWulf also plans to access the capital markets to fund a portion of the project. Get StartedTrade Bitcoin, Ethereum, and More Instantly -- No Wallets, No Hassle Speculate on price movements, claim up to $200 in bonuses, and start with risk-free paper trading with crypto futures on Plus500. Get StartedDisclosure: 82% of retail CFD accounts lose moneyDeployment Schedule Phase one -- approximately 40 MW of critical IT load -- is expected online in the first half of 2026, with the full 200+ MW deployed by year-end 2026, delivering substantial near-term capacity to Fluidstack. The expected site net operating income (NOI) margins of 85% imply around $315 million annually. Total project cost is estimated at $8 million to $10 million per MW of critical IT load. Concurrently, TeraWulf executed a long-term ground lease for approximately 183 acres at the Cayuga site in Lansing, New York. The Cayuga Ground Lease has a term of 80 years and includes reciprocal purchase and sale options exercisable for $100 beginning in year 50. The lease provides TeraWulf with exclusive rights to develop up to 400 MW of digital infrastructure capacity, with 138 MW of low-cost, predominantly zero-carbon power expected to be ready for service in 2026. Located on the site of a former coal-fired power plant, the Cayuga property features robust existing electrical infrastructure, an industrial-scale water intake system and redundant fiber connectivity - critical components for supporting enterprise-scale computing workloads. Cayuga's parent company, Riesling Power, will receive consideration comprised of $95 million in the form of TeraWulf common stock determined based on a 15-day trailing VWAP, and $3 million in cash. Last week, TeraWulf reported a second-quarter loss of 5 cents per share, beating the consensus for a loss of 7 cents, with sales of $47.64 million, better than the consensus of $46.08 million. Price Action: TeraWulf stock was up 32.42% at $7.24 at the time of publication on Thursday, according to Benzinga Pro. Read Next: Producer Inflation Explodes In July And Trump's Tariffs Are To Blame WULFTeraWulf Inc$7.0829.8%Stock Score Locked: Want to See it? Benzinga Rankings give you vital metrics on any stock - anytime. Reveal Full ScoreEdge RankingsMomentum84.77GrowthN/AQualityN/AValue15.47Price TrendShortMediumLongOverview$BTCBitcoin - United States dollar$118551.20-3.90%GOOGAlphabet Inc$203.430.20%GOOGLAlphabet Inc$202.320.18%Market News and Data brought to you by Benzinga APIs

TeraWulf Shares Climb On $6.7B Revenue Expansion, $400M Convertible Notes Offering - TeraWulf (NASDAQ:WULF)

TeraWulf inc. WULF shares are trading higher Monday after the company announced major expansion plans and new financing initiatives tied to its growing role in AI infrastructure. WULF is testing upper boundaries. Check the full analysis here. TeraWulf Increases IT Load, Gets Expanded Committments The stock gained momentum following news that contracted IT load has increased to 360 megawatts, representing $6.7 billion in secured revenue, with the potential to reach $16 billion if lease extensions are exercised. The company also revealed that Fluidstack, an AI cloud platform, has expanded its commitment at TeraWulf's Lake Mariner data center campus in New York by leasing CB-5, a new 160-megawatt facility expected to be operational in late 2026. This expansion adds to previously contracted capacity at the site, making Lake Mariner one of the largest high-performance computing campuses in the country. In conjunction with the new lease, Google increased its financial backing for TeraWulf, raising its debt backstop by $1.4 billion to a total of $3.2 billion while boosting its stake in the company to 14%. TeraWulf and Fluidstack are also in discussions about further capacity growth at the site, signaling continued demand for large-scale AI computing infrastructure. At the same time, TeraWulf announced a $400 million private offering of convertible senior notes due 2031, with an option for initial buyers to purchase an additional $60 million. Proceeds are expected to fund capped call transactions, support data center expansion, and cover general corporate needs. The notes will be senior unsecured obligations, convertible under certain conditions and structured to limit potential dilution through hedging transactions. B. Riley Securities responded to these developments by raising its price target on TeraWulf shares from $8 to $14, reflecting stronger revenue visibility and expanded partnerships. Investors reacted positively to the dual news of long-term contracted revenue growth and strengthened ties with Google, both of which reinforce TeraWulf's positioning as a key player in AI and high-performance computing infrastructure. WULF Price Action: TeraWulf shares closed Monday up 4.57% at $9.38, according to Benzinga Pro. Read Next: Duolingo Upgraded: Analyst Sees AI As Ally, Not Threat Image Via Shutterstock. WULFTeraWulf Inc$9.435.13%Stock Score Locked: Edge Members Only Benzinga Rankings give you vital metrics on any stock - anytime. Unlock RankingsEdge RankingsMomentum95.54GrowthN/AQualityN/AValue9.82Price TrendShortMediumLongOverview This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors. Market News and Data brought to you by Benzinga APIs

TeraWulf's Secret Weapon: Beowulf Integration Fuels AI Ambitions, Says CEO - TeraWulf (NASDAQ:WULF)

TeraWulf Inc. WULF stock rocketed over 40% during midday trading on Thursday. The rally was ignited by a $3.7 billion AI data center deal with Fluidstack, backed by Alphabet Inc's GOOGL GOOG Google's $1.8 billion guarantee. The 10-year contract to supply 200 megawatts of high-density power at Lake Mariner has social media buzzing with positive sentiment. Yet, a cryptic reveal from CEO Paul Prager in the second quarter earnings call points to a bigger catalyst: the completed integration of Beowulf Electricity & Data, his former private energy firm. WULF is charging ahead with explosive momentum. Get the scoop here. Get StartedTrade Bitcoin, Ethereum, and More Instantly -- No Wallets, No Hassle Speculate on price movements, claim up to $200 in bonuses, and start with risk-free paper trading with crypto futures on Plus500. Get StartedDisclosure: 82% of retail CFD accounts lose moneyBeowulf's Power Play Unleashed This isn't mere corporate cleanup. Beowulf, TeraWulf's power and infrastructure backbone, was acquired in the second quarter, streamlining operations and slashing costs. Prager, touting "shareholder alignment," said the move consolidates expertise, adding 94 Beowulf employees to TeraWulf's roster. This bolsters TeraWulf's edge in delivering low-cost, zero-carbon power, critical in the AI infrastructure race where energy is the bottleneck. Read Also: TeraWulf Stock Soars After Google Takes 8% Stake, Bitcoin Mining Company Inks Massive $3.7 Billion Infrastructure Deal With Lake Mariner's capacity at 500 megawatts -- and a potential rise to 750 -- plus a new 400-megawatt Cayuga site, TeraWulf is scaling fast. Its Core42 partnership is on track, with WULF Den generating revenue, CB-1 starting soon, and CB-2 set for Q4. Beowulf's integration could trim the $8-10 million per megawatt build cost for Fluidstack, despite higher labor and design tweaks, boosting the projected 85% net operating margins. Prager's Vision: Execution Is Key Prager calls TeraWulf a "show-me story," with skeptics awaiting Core42's buildout completion. But the Beowulf acquisition, shrouded in intrigue, could be the spark that cements TeraWulf's AI dominance. With $300 million in project financing led by Morgan Stanley and a $200 million share repurchase program, TeraWulf is financially nimble. As the Fluidstack deal fuels today's rally, Prager's Beowulf masterstroke -- paired with Google's backing -- positions TeraWulf to outshine rivals, leaving investors eager for the next reveal. Read Next: Buffett's $4.8B Mystery Stock: UPS, FedEx, Caterpillar... Or A Total Curveball? Photo: Piotr Swat/Shutterstock.com WULFTeraWulf Inc$7.8744.1%Stock Score Locked: Edge Members Only Benzinga Rankings give you vital metrics on any stock - anytime. Unlock RankingsEdge RankingsMomentum84.77GrowthN/AQualityN/AValue15.47Price TrendShortMediumLongOverviewGOOGAlphabet Inc$205.131.03%GOOGLAlphabet Inc$204.271.14%Market News and Data brought to you by Benzinga APIs

TeraWulf Stock Falls 1% Pre-Market Despite Convertible Notes Offering, Google Partnership Expansion - TeraWulf (NASDAQ:WULF)

TeraWulf Inc. WULF edged down 0.96% to $9.29 in pre-market trading on Tuesday. Check out the current price of WULF stock here. Trending Investment OpportunitiesAdvertisementArrivedBuy shares of homes and vacation rentals for as little as $100. Get StartedInteractive BrokersTrade global markets with low costs and pro-level tools at Interactive Brokers.Get StartedRangeRange delivers AI-powered wealth management at a fraction of the cost. Get StartedRocket HELOCGet a HELOC with mid-600s credit -- borrow and repay on repeat. Get StartedPacasoJoin 10,000+ investors betting on Pacaso's global expansion at $2.90 per share.Get StartedWorthy BondsEarn 7% fixed interest with Worthy Bonds -- start investing with just $10.Get StartedNinjaTraderNinjaTrader gives you futures access with low day-trading margins.Get StartedIRA FinancialInvest your IRA or 401(k) in real estate, crypto, and more with IRA Financial. Get StartedAcornsGrow wealth effortlessly -- Acorns invests your spare change automatically. Get StartedSmartAssetFind a vetted financial advisor near you in minutes with SmartAsset's free tool. Get StartedConvertible Notes Structure Details The shares of the Maryland-based company dipped to $9.34 in the extended trading session, despite announcing a $400 million private offering of convertible senior notes due 2031. The company granted initial purchasers a 13-day option to acquire an additional $60 million in notes, bringing the total potential offering to $460 million. See Also: Bitcoin, Ethereum, Dogecoin, XRP Slide As Crypto Liquidations Top $500 Million: Analyst Says This Is What Is In Store For BTC In The Current Quarter The notes will function as senior unsecured obligations, paying semiannual interest beginning March 1, 2026, and maturing September 1, 2031. TeraWulf plans to utilize proceeds primarily for capped call transactions designed to reduce dilution from potential note conversions. Google Backstop Commitment Increases Alphabet Inc.'s GOOGL GOOG Google division expanded its financial commitment to TeraWulf by an additional $1.4 billion, raising its total debt backstop to $3.2 billion. This increased backing coincides with Fluidstack's expansion at TeraWulf's Lake Mariner data center campus in Western New York. Google secured warrants to purchase 32.5 million TeraWulf shares, expanding its pro forma equity stake to approximately 14%. The tech giant's backing supports the new CB-5 data center, which will add 160 MW of critical IT load when operational in the second half of 2026. AI Infrastructure Revenue Growth TeraWulf's contracted IT load reached 360 megawatts, representing $6.7 billion in secured revenue with potential to reach $16 billion through lease extensions. The company signed two 10-year high-performance computing colocation agreements with Fluidstack, locking in approximately $3.7 billion in contracted revenue. B. Riley Securities RILY raised its price target from $8 to $14, citing stronger revenue visibility and expanded partnerships. TeraWulf reported second-quarter results beating expectations with a 5-cent per share loss versus the 7-cent forecast, while sales reached $47.64 million above the $46.08 million estimate. Market Performance Analysis Despite the after-hours decline of 1.08%, the crypto miner gained 65.72% year-to-date and surged over 72.11% in the past five days following the Google partnership announcement. The stock jumped more than 40% during Thursday's midday trading session, reflecting strong investor confidence in the company's AI infrastructure positioning. The stock has been volatile, trading between $9.30 and $10.71 during the day. Price Action: TeraWulf Inc. shares closed 4.57% higher at $9.38 during regular trading hours on Monday, according to Benzinga Pro data. With a strong Momentum in the 95th percentile, Benzinga's Edge Stock Rankings indicate, WULF stocks have positive trends across all time frames. Know how the stock fares on other parameters here. Read Next: Deepwater's Doug Clinton Says Apple, Amazon's AI Stories Are Weak: From Nvidia To Meta, Here's What His AI Models Are A Fan Of Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors. Photo courtesy: Shutterstock WULFTeraWulf Inc$9.29-0.96%Stock Score Locked: Edge Members Only Benzinga Rankings give you vital metrics on any stock - anytime. Unlock RankingsEdge RankingsMomentum95.54GrowthN/AQualityN/AValue9.82Price TrendShortMediumLongOverviewGOOGAlphabet Inc$203.92-0.18%GOOGLAlphabet Inc$203.13-0.18%RILYB. Riley Financial Inc$6.901.47%Market News and Data brought to you by Benzinga APIs

Why TeraWulf Stock Soared Again Today | The Motley Fool

TeraWulf, a Bitcoin miner and high-performance computing (HPC) data center company, announced that Alphabet's Google has committed to providing an additional $1.4 billion in backstop after announcing it would guarantee $1.8 billion last week. TeraWulf announced a major deal last week with Fluidstack, an artificial intelligence (AI) cloud provider. TeraWulf will provide 200 megawatts of compute power at its data center in New York. As part of the deal, Google said that it would guarantee up to $1.8 billion if Fluidstack fails to make good on its lease obligations. That number is now $3.2 billion. Google will be awarded stock warrants that would give it a roughly 14% stake in TeraWulf if exercised. This backstop will help TeraWulf finance a major data center expansion, giving creditors more faith if things go south. There is a gap between the amount of computing supply for AI and demand. That is leading to an enormous race to build new capacity, and companies like TeraWulf are reaping the benefits. They are, however, still unprofitable, and these buildouts are insanely expensive. They are relying on heavy amounts of debt to finance their growth, making them extremely sensitive to any significant downturns in AI demand. The company is also using stock sales to raise capital, announcing today that it will raise $400 million in a private placement that is likely to dilute shareholder value. I would avoid TeraWulf and other data center companies like it.

Why TeraWulf Stock Is Skyrocketing Today | The Motley Fool

Along with releasing its second-quarter earnings, TeraWulf announced a major co-location deal with Fluidstack, an artificial intelligence (AI) cloud provider that will see the company provide 200 megawatts of compute power at its data center in New York. The 10-year, $3.7 billion deal has the option to be extended twice for up to a total of $8.7 billion. Google will guarantee up to $1.8 billion if Fluidstack fails to make good on its lease obligations. In exchange, Google will be awarded warrants for 41 million shares of TeraWulf, about an 8% stake. The guarantee will allow TeraWulf to access the financing it needs to provide the 200 megawatts of compute power. This is the latest major data center deal as big tech races to build enough capacity to meet current and projected future demands. It's hard to overstate just the scale of the efforts. Google, Amazon, Microsoft, and Meta Platforms alone are expected to spend roughly $400 billion next year and are on track to spend more than $350 billion this year. That's not total capital expenditures (capex), that is specifically data center capex. While this presents an enormous opportunity for data center providers, it also presents an enormous risk. I believe that the big tech companies are very purposefully making deals such as this one to offload the risk onto third parties. TeraWulf and other infrastructure companies like it are taking on enormous amounts of debt at very high interest rates. If there is an overbuild or AI demand sags, TeraWulf could find itself in a pretty precarious position.

Stock Market Today: TeraWulf Jumps on $3.7 Billion AI Deal and Google Partnership | The Motley Fool

TeraWulf surged today after unveiling a multi-billion-dollar AI infrastructure deal with Fluidstack, backed by Google's financial muscle and equity investment. TeraWulf (WULF 59.89%) soared 60% on Thursday to close at $8.71, driven by staggering volume -- over 286 million shares traded, more than six times its 3-month average. The jump followed news that the company signed two 10-year AI hosting agreements with Fluidstack, establishing itself as a serious player in hyperscale digital infrastructure. The contracts, valued at $3.7 billion with potential to reach $8.7 billion, will support over 200 megawatts of liquid-cooled IT load at its Lake Mariner data center. The broader market traded flat by comparison. The S&P 500 inched up 0.03%, while the Nasdaq Composite slipped by 0.01%. Investors showed modest appetite for risk across tech and AI sectors, while TeraWulf bucked the trend with its sector-defining announcement. Crypto mining peers posted mixed results. MARA Holdings (MARA -0.69%) dipped 0.7% to $15.75, while Riot Platforms (RIOT 5.70%) gained 5.7% to close at $12.25. Still, neither matched the intensity of TeraWulf's rally, which reflected the company's strategic pivot beyond mining. The game-changing news: Alphabet's Google will backstop $1.8 billion of Fluidstack's lease obligations in support of the project and receive warrants for roughly 8% equity in TeraWulf. With AI infrastructure demand surging, this partnership aligns WULF with a Tier 1 hyperscaler and signals major institutional confidence. The move could fundamentally reshape TeraWulf's long-term trajectory -- and investors took notice.

CleanSpark Knocked Back as TeraWulf Hits 2.5-Year High With Google's 14% Up Stake

The partnership signals growing convergence between Bitcoin mining and AI infrastructures. As the race between Bitcoin miners and AI infrastructure providers heats up, one U.S.-based company, TeraWulf (NYSE: WULF), has pulled off game-changing moves. It has gained the backing of the $2 trillion worth Google, flipping its rival CleanSpark in stock price performance. Google Deepens Stake in TeraWulf Up to 14% Alphabet-owned Google has taken significant measures to potentially become the largest shareholder in Bitcoin miner and data center operator TeraWulf, increasing its stake up to 14%. The tech giant has made a $3.2 billion backstop deal to support the expansion of the data center in Western New York. It didn't take long for @fluidstackio and @Google to seize the opportunity for further expansion at Lake Mariner. In just a few days, they've nearly doubled AI hosting capacity to 360 MW -- representing up to $16B in potential revenue with lease extensions, backed by @Google's... https://t.co/G4QDlJxZSf -- Paul Prager (@PaulBPrager) August 18, 2025 Notably, this announcement came a week after Google Play Store's crypto store wallet app policies. The backstop here guarantees lease payments tied to TeraWulf's 10-year agreement dated August 14 with Fluidstack, an AI cloud platform to provide over 200 MW of HPC capacity at its Lake Mariner Campus in Western New York. In the same part of the deal, Google agreed to the $1.8 billion backstop of Fluidstack's lease obligations in return for 8% equity stake in TeraWulf before increasing it to $3.2 billion and its pro-equity stake to 14%. Fluistack also exercised an option to expand the Laker Mariner campus, adding a 160 MW data center building. Notably, in exchange, Google will get the warrants allowing it to purchase more than 73 million WULF shares. This could make it one of the biggest shareholders of this Bitcoin miner company in the future. Interestingly, at the same time, WULF company has also announced its plan to raise $400M by offering convertible senior notes due after 6 years. TeraWulf Stock Price Soars 5% Today, Knocking Out CleanSpark Following Google's up stake announcement, the WULF stock price has surged 5%, pushing it to a nearly 2.5-year high. On Monday, the WULF shares price jumped to a high of $10.57, and is currently at $9.38. Notably, over the five days, the stocks have gained a 70% plus surge, pushing it ahead of CleanSpark (CLSK). Previously, in June, Metaplanet also outpaced CLSK with its Bitcoin buying strategies. TeraWulf (NYSE: $WULF) has flipped Cleanspark (NYSE: $CLSK)... What part of the cycle are we in? -- Blake Lewis (@Blake_Lewis_) August 18, 2025 It is also important to note that the WULF stock price has nearly doubled in just a week's span, while analysts like John Todaro anticipate it to grow to $11, citing its strong mining capacity in AI data center infrastructure. This TeraWulf and Google collaboration reveals that the growing alignment is with Bitcoin miners and cloud providers, while they cater to the development of AI infrastructures.

Google Could Become Largest Shareholder in Bitcoin Miner TeraWulf With 14% Stake

Workers at TeraWulf's Lake Mariner data center campus. Credit: TeraWulf. * Google will receive warrants to acquire 32.5 million shares in TeraWulf. * The deal will see Google guarantee lease payments for TeraWulf's data center expansion. * Several bitcoin miners have pivoted to AI infrastructure to diversify their revenue streams. In a data center financing deal that could see Google become TeraWulf's largest shareholder, the web search giant will receive warrants to acquire 32.5 million shares in the Bitcoin mining company. The deal reflects a growing alignment between Bitcoin miners and cloud providers like Google as they invest in new AI infrastructure. Google Funds Data Center Expansion On Aug. 14, 2025, TeraWulf signed two 10-year colocation agreements with Fluidstack, an AI cloud platform, to provide over 200 megawatts (MW) of high-performance computing (HPC) capacity at its Lake Mariner data center campus in Western New York. As part of this deal, Google agreed to backstop $1.8 billion of Fluidstack's lease obligations. In return, it received warrants for roughly an 8% equity stake in TeraWulf. Just a few days after the initial announcement, Fluidstack exercised an option to expand at the Lake Mariner campus, adding a new 160 MW data center building. In response, Google increased its backstop to $3.2 billion and its pro forma equity stake in TeraWulf to approximately 14%. The Convergence of Bitcoin Mining and AI Infrastructure When TeraWulf first started developing the Lake Mariner campus in 2022, the company was exclusively known as a Bitcoin miner. However, starting in 2024, it has pivoted to a dual-business model and expanded into HPC hosting. Both operations require vast energy resources and efficient cooling systems, creating key synergies between bitcoin mining and AI infrastructure. Terawulf's strategy is now to maintain its existing Bitcoin mining operation as a source of cash flow while aggressively expanding its more profitable and stable HPC hosting business. The shift from Bitcoin mining to AI and high-performance computing (HPC) is a major trend in the digital infrastructure space. Other companies that have made a similar pivot include Hut 8, Riot Platforms, and Iris Energy. At least one firm is on a path toward abandoning mining entirely. Core Scientific, once one of the largest Bitcoin miners in the U.S., is in the process of being acquired by AI cloud firm CoreWeave for approximately $9 billion. CoreWeave itself was a former Ethereum mining company that successfully pivoted to AI cloud services years ago. The proposed acquisition will allow CoreWeave to secure Core Scientific's extensive power capacity and data center infrastructure to meet its own soaring AI workloads.

Terawulf Inc. Signs 200+ Mw, 10-Year Ai Hosting Agreements with Fluidstack

TeraWulf Inc. announced two 10-year high-performance computing (HPC) colocation agreements with Fluidstack, a premier AI cloud platform that builds and operates HPC clusters for some of the world?s largest companies. Under the agreements, TeraWulf will deliver more than 200 MW of critical IT load (representing ~250 MW of gross capacity) at its Lake Mariner data center campus in Western New York. Purpose-built for liquid-cooled AI workloads, the facility is engineered to meet the scale, density and resiliency required for next-generation compute. The agreements represent approximately $3.7 billion in contracted revenue over the initial 10-year terms and include two five-year extension options which, if exercised, would bring the total contract revenue to approximately $8.7 billion. To support the buildout, Google will backstop $1.8 billion of Fluidstack?s lease obligations to support project-related debt financing and will receive warrants to acquire approximately 41 million shares of TeraWulf common stock, equating to an approximately 8% pro forma equity ownership stake?aligning TeraWulf with one of the most influential global AI partners. TeraWulf also plans to access the capital markets to fund a portion of the project. Phase one?approximately 40 MW of critical IT load?is expected online in the first half of 2026, with the full 200+ MW deployed by year-end 2026, delivering substantial near-term capacity to Fluidstack. Contract Value: ~$3.7 billion across the initial 10-year terms, Lease Extensions: Two five-year options could increase total revenue to ~$8.7 billion, Lease Structure: Modified gross lease with annual escalators, escalatorsExpected Site Net Operating Income (NOI) Margins: 85% (implies ~$315 million annually), Total Project Cost: $8-$10 million per MW of critical IT load, Google Participation: $1.8 billion backstop of Fluidstack lease obligations in support of project-related debt; ~8% equity stake via 41 million warrants and Growth Potential: 30-day exclusivity for CB-5 at Lake Mariner (160 MW).

Google bets $3.7 billion on Bitcoin miner TeraWulf

In concrete terms, the agreement provides for an additional 500 megawatts (MW) of energy capacity, bringing TeraWulf's infrastructure to the symbolic threshold of 1 gigawatt. "This agreement with Google Cloud allows us to continue to grow and innovate, while providing our customers with cutting-edge hosting solutions for AI and Bitcoin mining," said Paul Prager, CEO of TeraWulf. The announcement sent shockwaves through the markets, with WULF shares, listed on the Nasdaq, soaring 50% on Thursday to reach a new high. For a company that went public in December 2021, the growth is spectacular: in three years, TeraWulf has multiplied its capacity, recently reaching 5.5 EH/s (+37% over the year). As a reminder, "computing power" in Bitcoin mining, expressed in EH/s (exahash per second), measures the number of cryptographic calculations a miner can perform each second to validate blocks and thus be rewarded in bitcoins. With 5.5 EH/s, TeraWulf performs 5.5 quintillion calculations per second, reflecting its ability to secure the network and earn Bitcoin rewards. To put this figure into perspective, all miners on the Bitcoin network currently generate more than 1,000 EH/s. To understand everything about computing power in Bitcoin mining: Bitcoin, the 10-minute puzzle This investment illustrates a deeper trend: cloud giants want their share of Bitcoin's computing power. According to McKinsey, the global market for high-performance computing (HPC) hosting, which involves solving complex, resource-intensive calculations that cannot be handled efficiently by conventional computers, is expected to be worth $250 billion by 2030. Among the sectors where energy demand is skyrocketing, generative AI is at the forefront. Training its models and responding to user queries requires colossal amounts of electricity. The problem is that while investors are pouring massive amounts of capital into this booming market, companies are struggling to quickly access the infrastructure needed to support this thirst for computing power. This is where bitcoin miners come in. Accustomed to running high-performance server farms, they already have all the necessary assets: stable and powerful power supplies, optimized cooling systems, and fast, low-latency network connections. Their expertise and facilities can easily be repurposed to meet the needs of AI giants, making these players a strategic link in the global race for computing power. Google intends to occupy a strategic position in this segment, where AI and cryptocurrencies share the same computationally intensive infrastructure. Google's move is part of a race that is already underway: Beyond financial power, it is the strategic signal that strikes. Google, traditionally cautious about Bitcoin, is now positioning itself as a major infrastructure provider for mining, while consolidating its lead in AI. This convergence is no coincidence: AI and crypto are two of the world's fastest-growing markets, and their combination could accelerate the industrialization of mining and AI.

Google Lifting Stake in TeraWulf With Additional $1.4 Billion Backstop

Google is lifting its stake in TeraWulf, supporting the bitcoin miner and artificial intelligence-computing company's expansion of its Lake Mariner data center campus in Western New York. TeraWulf said Monday that Alphabet's Google will provide an incremental $1.4 billion backstop to support project-related debt financing, and in exchange will receive warrants to buy 32.5 million shares of TeraWulf. The commitment will lift Google's investment to about $3.2 billion, and its total pro forma equity stake in TeraWulf to roughly 14% from the about 8% previously agreed. The additional funding backs TeraWulf after AI cloud platform Fluidstack exercised an option to expand at the Lake Mariner data center campus, which will see the addition of a new purpose-built data center building providing an incremental 160 megawatts, with operations expected to commence in the second half of 2026. The expansion builds on previous agreements under which TeraWulf is delivering more than 200 MW of AI data center capacity to Fluidstack at Lake Mariner. With the new building, total contracted critical IT load for Fluidstack at the campus increases to about 360 MW. TeraWulf and Fluidstack are in talks regarding additional capacity expansions. Earlier this month, TeraWulf said it secured two 10-year agreements with Fluidstack and that Google planned to backstop $1.8 billion of its lease obligations to support the buildout and project-related debt financing. TeraWulf said its agreements with Fluidstack represent $6.7 billion in contracted revenue, with the potential to reach $16 billion with lease extensions. TeraWulf on Monday also said it plans to offer $400 million in convertible senior notes due 2031.

TeraWulf Shares Jump With Additional $1.4 Billion Backstop From Google

TeraWulf's shares rallied to a fresh 52-week high Monday after the bitcoin miner and artificial intelligence-computing company secured a further investment from Google to help fund the expansion of its Lake Mariner data center campus in New York. In morning trading, the shares were 18% higher at $10.59. The stock earlier in the session hit $10.71. TeraWulf said that Alphabet's Google will provide an incremental $1.4 billion backstop to support project-related debt financing, and in exchange will receive warrants to buy 32.5 million shares of TeraWulf. The commitment will lift Google's investment to about $3.2 billion, and its total pro forma equity stake in TeraWulf to roughly 14% from the about 8% previously agreed. The additional funding backs TeraWulf after AI cloud platform Fluidstack exercised an option to expand at the Lake Mariner data center campus, which will see the addition of a new purpose-built data center building providing an incremental 160 megawatts, with operations expected to commence in the second half of 2026. TeraWulf said its agreements with Fluidstack represent $6.7 billion in contracted revenue, with the potential to reach $16 billion with lease extensions.