Google Boosts Stake In Bitcoin Miner TeraWulf To 14%, Shares Hit 52-Week High
TeraWulf stock surged as much as 12% to a fresh 52-week high Monday after Google disclosed it had become one of the Bitcoin miner’s largest shareholders. The tech giant raised its stake to 14% by upping its backstop commitment in a lease deal between TeraWulf and AI infrastructure provider Fluidstack. That news sent shares soaring intraday before after-hours selling trimmed gains, and the stock has eased slightly on Tuesday. Even so, TeraWulf remains up more than 72% in the past week and 87% over the past month. TeraWulf share price (Source: Google Finance ) TeraWulf Inks Deal With FluidStack In an Aug. 14 press release , the Bitcoin miner said it had entered two 10-year high-performance computing (HPC) colocation agreements with the AI cloud platform. As part of the initial agreements, Terawulf was expected to deliver more than 200 MV of critical IT load at its Lake Mariner data center campus that is located in Western New York. According to that announceme...