Google makes a big entrance into Bitcoin mining and artificial intelligence! The tech giant has just sealed a historic alliance that is on everyone's lips: it will back the contract between the mining company TeraWulf and Fluidstack, the artificial intelligence platform, with USD1.8 billion. Thus, Google acquires nearly 8% of TeraWulf's shares and positions the company as the new benchmark among bitcoin farms and computing for AI.
Social media has been ablaze since yesterday when TeraWulf confirmed, through its official statement, that the agreement involves 200 megawatts of critical IT capacity at its Lake Mariner campus in New York. The initial contract is for 10 years and can be extended following sector expansion trends: if the two five-year extensions are activated, total revenues could reach the astonishing figure of USD8.7 billion.
The impact was immediate: TeraWulf's stock price soared from USD5.50 to USD8.48 in a matter of hours, marking a 54% increase.
The company becomes a hybrid player that does not solely depend on the price of bitcoin; it now has the backing of Google and the AI sector. In the words of Paul Prager, CEO of TeraWulf, it is a "defining moment" that unites global capital and computing power for the next generation of digital infrastructure.
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