TeraWulf's Google Deal Doubles Stock, Opens AI Doors
TeraWulf, a leading Bitcoin miner, has entered a significant partnership with tech giant Google and AI infrastructure provider Fluidstack. The deal, hailed as a 'defining moment' by TeraWulf CEO Paul Prager, has sent the company's stock soaring, doubling in value following the announcement.
The 10-year agreement between TeraWulf and Fluidstack involves the deployment and management of high-performance GPU clusters for AI workloads in TeraWulf's zero-carbon powered data center campus, Lake Mariner, in New York. Google, as part of the partnership, has provided $1.8 billion to secure Fluidstack's lease obligations, taking payment in TeraWulf shares. This makes Google the largest shareholder of TeraWulf, with roughly 41 million shares.
The partnership links two high-growth industries: Bitcoin mining and artificial intelligence. TeraWulf, the fifth largest Bitcoin miner globally with a market cap above $3.4 billion, is well-positioned to benefit from this convergence.
The partnership with Google and Fluidstack marks a significant milestone for TeraWulf. It not only strengthens the company's financial position but also opens up new avenues for growth in the AI sector. With Google as its largest shareholder, TeraWulf is set to leverage its zero-carbon data center facilities to support the burgeoning AI industry.
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