Tech giant Google acquired 14% of TeraWulf's shares, becoming its largest shareholder. This move came after Google increased its financial support by $3.2 billion as part of a deal between bitcoin miner TeraWulf and AI infrastructure provider Fluidstack. Under the terms of a 10-year data center lease agreement, Google gained the right to purchase over 73 million shares of TeraWulf, securing its leading position among shareholders. This was reported by Kerry Langles, TeraWulf's chief strategist, emphasizing that Google's investment is a 'powerful endorsement' of their zero-emission infrastructure.
After the bitcoin halving in April 2024, which reduced the mining reward to 3.125 $BTC , TeraWulf focused on diversification, redirecting its capabilities towards AI and high-performance computing (HPC). The deal with Fluidstack will bring $6.7 billion in revenue with the potential to reach $16 billion if continued. TeraWulf's shares (WULF) rose by 72% in the five days following the announcement.
This agreement highlights the growing interest of tech giants in the crypto industry. Stay updated by subscribing to #MiningUpdates
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