Google Becomes Largest Shareholder in Bitcoin Miner TeraWulf

Over the past week, WULF's stock price rose by 73.7%.

Google has increased its stake in TeraWulf to 14% by expanding financial guarantees for a deal between the miner and the cloud AI platform Fluidstack.  

Key Highlights

✔️ Total contracted capacity increases to >360 MW of Critical IT Load with the addition of CB-5
✔️ The CB-5 lease is on the same economic terms as the initial @fluidstackio leases for CB-3 and CB-4
✔️ Represents $6.7 billion in contracted revenue (with potential…

— TeraWulf (@TeraWulfInc) August 18, 2025

Initially, the tech giant announced a guarantee of $1.8 billion. It was later revealed that the amount reached $3.2 billion. In return, Google received options to acquire 73 million shares of TeraWulf, representing 14% of the company’s capital. 

TeraWulf’s Chief Strategy Officer, Kerri Langlais, described the corporation’s investment as a “validation of the company’s reliable green infrastructure.” TeraWulf uses 91% carbon-free energy. 

Following the halving in April 2024, many bitcoin miners began diversifying their businesses, reallocating resources to meet AI demands. TeraWulf plans to continue mining digital gold but will focus primarily on AI hosting. 

Langlais explained that crypto mining currently provides cash flow and allows participation in grid balancing through flexible loads. In the future, the miner sees greater potential in artificial intelligence and high-performance computing. 

The agreement with Fluidstack is expected to bring TeraWulf $6.7 billion in revenue, with potential growth to $16 billion if the lease is extended.

Over the past week, the miner’s stock price rose by 73.7%, reaching $10.57. By the close of trading on August 18, the price had adjusted to $9.38. 

Earlier in March, AI startup CoreWeave, which previously engaged in cryptocurrency mining, signed a partnership agreement with OpenAI worth up to $11.9 billion.