Google Becomes Largest Shareholder in Bitcoin Miner TeraWulf
Tech giant Google has become the largest shareholder in Bitcoin miner TeraWulf, holding a 14% stake. This follows increased financial backing for a 10-year colocation lease agreement between TeraWulf and AI infrastructure provider Fluidstack, with Google providing a $3.2 billion backstop.
This move highlights a growing trend of Bitcoin miners diversifying into AI and HPC services to boost profitability post-halving. TeraWulf plans to transition megawatts to AI/HPC workloads, projecting significant revenue from its agreement with Fluidstack. The market has responded positively, with TeraWulf’s stock rallying over 72% in the past five days.