TeraWulf Strikes Billion-Dollar AI Hosting Deal Backed by Google
The post TeraWulf Strikes Billion-Dollar AI Hosting Deal Backed by Google appeared on BitcoinEthereumNews.com. Fintech TeraWulf, best known for its environmentally conscious Bitcoin mining operations, is making a bold move beyond crypto. The company has entered into a decade-long partnership with AI infrastructure provider Fluidstack, a deal that has Alphabet’s Google in its corner and could dramatically reshape TeraWulf’s future revenue streams. Under the agreement, Fluidstack will lease data center capacity from TeraWulf for the next ten years, with the arrangement valued at around $3.7 billion. The figure could climb even higher if both parties decide to extend the contract for an additional five years. Google’s role in the deal isn’t just symbolic. The tech giant is supporting Fluidstack’s $1.8 billion in lease commitments and offering debt financing, in exchange for warrants representing roughly 8% of TeraWulf’s outstanding shares — about 41 million in total. Massive Data Center Expansion in New York The collaboration will significantly scale TeraWulf’s New York facilities, adding more than 200 megawatts of IT load capacity. According to CFO Patrick Fleury, the influx of capital and Google’s backing will allow the company to adopt a more strategic financing approach, tapping into capital markets with improved credit standing. Founded in 2021, TeraWulf emerged as a green-energy-focused Bitcoin miner but has faced headwinds in the post-halving climate. Early 2025 brought heavy losses, with the first quarter showing a $61.4 million deficit and falling revenues. However, the second quarter marked a turnaround — profitability returned, revenues improved, and the company maintained a healthy reserve of $90 million in cash, equivalents, and Bitcoin. Why AI? Fluctuating Bitcoin prices and soaring energy costs have put pressure on mining firms across the industry. Many, including TeraWulf, are now branching into AI and high-performance computing to reduce reliance on the unpredictable crypto market. The pivot to AI hosting offers a steadier income stream and positions the company…
The post TeraWulf Strikes Billion-Dollar AI Hosting Deal Backed by Google appeared on BitcoinEthereumNews.com.
Fintech TeraWulf, best known for its environmentally conscious Bitcoin mining operations, is making a bold move beyond crypto. The company has entered into a decade-long partnership with AI infrastructure provider Fluidstack, a deal that has Alphabet’s Google in its corner and could dramatically reshape TeraWulf’s future revenue streams. Under the agreement, Fluidstack will lease data center capacity from TeraWulf for the next ten years, with the arrangement valued at around $3.7 billion. The figure could climb even higher if both parties decide to extend the contract for an additional five years. Google’s role in the deal isn’t just symbolic. The tech giant is supporting Fluidstack’s $1.8 billion in lease commitments and offering debt financing, in exchange for warrants representing roughly 8% of TeraWulf’s outstanding shares — about 41 million in total. Massive Data Center Expansion in New York The collaboration will significantly scale TeraWulf’s New York facilities, adding more than 200 megawatts of IT load capacity. According to CFO Patrick Fleury, the influx of capital and Google’s backing will allow the company to adopt a more strategic financing approach, tapping into capital markets with improved credit standing. Founded in 2021, TeraWulf emerged as a green-energy-focused Bitcoin miner but has faced headwinds in the post-halving climate. Early 2025 brought heavy losses, with the first quarter showing a $61.4 million deficit and falling revenues. However, the second quarter marked a turnaround — profitability returned, revenues improved, and the company maintained a healthy reserve of $90 million in cash, equivalents, and Bitcoin. Why AI? Fluctuating Bitcoin prices and soaring energy costs have put pressure on mining firms across the industry. Many, including TeraWulf, are now branching into AI and high-performance computing to reduce reliance on the unpredictable crypto market. The pivot to AI hosting offers a steadier income stream and positions the company…
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