TeraWulf stock jumps more than 10% as Google boosts stake in data center operator
Cryptocurrency
CNBC

TeraWulf stock jumps more than 10% as Google boosts stake in data center operator

August 18, 2025
05:51 PM
3 min read
AI Enhanced
investmentstocks

Key Takeaways

Fluidstack exercised an option for another 160 MW with TeraWulf after signing two 10-year computing deals last week.

Article Overview

Quick insights and key information

Reading Time

3 min read

Estimated completion

Category

cryptocurrency

Article classification

Published

August 18, 2025

05:51 PM

Source

CNBC

Original publisher

Key Topics
investmentstocks

In this articleGOOGLWULF your favorite stocksCREATE FREE ACCOUNTThomas Fuller | SOPA Images | Lightrocket | Getty ImagesTeraWulf stock rallied more than 10% after Google hiked its stake in the bitcoin miner and data center operator as it funds an expansion of its Lake Mariner, New York, facility.As part of the deal, Google will offer up to $1.4 billion in additional backstop, bringing its total to $3.2 billion

It hikes Google's stake in TeraWulf to 14% from 8% and enables the giant to buy 32.5 million s of the company's stock.TeraWulf CEO Paul Prager said in a release that the agreement solidifies the company's "strategic alignment with Google" to help build advanced artificial intelligence infrastructure.Last week, s skyrocketed after the company signed two 10-year computing deals with AI cloud vider Fluidstack to offer more than 200 megawatts of capacity at its Lake Mariner data center space in western New York.s of TeraWulf are up 90% over the last week.Read more CNBC newsBill Gates meets Willy Wonka: How Epic's 82-year-old billionaire CEO built her software factorySamsung taking market from Apple in U.S. as foldable phones gain momentumOpenAI in talks to sell around $6 billion in stock at roughly $500 billion valuation IPOs are roaring after 'years of hibition' — it may be too good"This is a game changer in the industry," Prager told CNBC's "Power Lunch" last week. "If you have quality energy infrastructure and a management team and folks on the ground that understand how to extract value for it, this is the time, Lake Mariner is the place."Monday's announcement hikes critical IT load to more than 360 MW, with Fluidstack exercising an option for another 160 MW at Lake Mariner

TeraWulf also said the deal equals $6.7 billion in contracted revenue and could reach as much as $16 billion through lease extensions.Operations are expected to start in the second half of 2026."Fluidstack's decision to expand so soon after our initial agreement speaks volumes the quality, readiness, and scalability of our infrastructure," TeraWulf CTO Nazar Khan said in a release.Separately, TeraWulf also said it will offer $400 million in convertible senior notes due in 2031.Don’t miss these insights from CNBC Forget Palantir

Bank of America believes it found the next hot national defense playPiper Sandler raises Nvidia price target ahead of earnings, calls for more than 20% upsideNvidia will jump another 20% after report of China export license agreement, Wells Fargo saysGoldman Sachs names five stocks with more upside ing their earningsWatch: TeraWulf CEO on Google investment: Building one of the largest data center campuses in the U.S.watch now4:0504:05Terawulf CEO on Google investment: Building one of the largest data center campuses in the U.S.Power Lunch