TeraWulf Soars Over 10% as Google Expands Stake in Bitcoin Miner and AI Datacenter Project
Shares of TeraWulf surged more than 10% after Google boosted its investment in the bitcoin mining and datacenter operator, backing the expansion of its Lake Mariner facility in New York.
The deal adds up to $1.4 billion in fresh backstop funding, raising Google’s total commitment to about $3.2 billion and increasing its ownership stake from 8% to 14%. The agreement also allows Google to acquire approximately 32.5 million TeraWulf shares.
CEO Paul Prager called the partnership a milestone that strengthens the company’s alignment with Google in building advanced AI-ready infrastructure. The announcement follows TeraWulf’s recent long-term agreements with AI cloud provider Fluidstack, which secured more than 200 megawatts of capacity at Lake Mariner.
Over the past week, TeraWulf stock has climbed nearly 90% as excitement builds around its datacenter capabilities. The latest announcement increases the site’s critical IT load to over 360 MW, with Fluidstack retaining an option to add another 160 MW. The combined contracts are valued at $6.7 billion, with potential to rise to $16 billion through lease extensions.
Operations at the expanded facility are slated to begin in the second half of 2026. CTO Nazar Khan emphasized that Fluidstack’s decision to scale up so quickly highlights the strength and scalability of TeraWulf’s infrastructure.
In a separate update, the company also revealed plans to issue $400 million in convertible senior notes due in 2031.
