TeraWulf has transitioned into AI infrastructure hosting, signing a long-term deal with Fluidstack, supported by Google, which is anticipated to boost the company's revenue significantly. During a recent shareholder call, TeraWulf announced a 10-year colocation lease with Fluidstack, valued at $3.7 billion, with potential for more than double that amount if extensions are taken. Google is backing Fluidstack's $1.8 billion lease obligations and providing debt financing, in exchange for warrants on approximately 41 million WULF shares, equating to about 8% of TeraWulf. This agreement will enhance TeraWulf's data center capacity in New York by over 200 megawatts. Despite facing challenges in Bitcoin mining, TeraWulf reported a return to profitability in Q2, with a net loss of $61.4 million in Q1. The company's stock surged by 48% following the announcement, reflecting a market capitalization nearing $3 billion. TeraWulf continues to mine Bitcoin while diversifying into AI and high-performance computing. Read more AI-generated news on: https://app.chaingpt.org/news

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