TeraWulf has announced a partnership with AI infrastructure provider Fluidstack, backed by Google, opening new opportunities for the company.
Agreement with Fluidstack
TeraWulf has entered a decade-long agreement with Fluidstack, where Fluidstack will lease data center capacity from TeraWulf for around $3.7 billion. This figure could increase if both parties opt to extend the contract for an additional five years.
Data Center Expansion in New York
According to CFO Patrick Fleury, the collaboration will significantly scale TeraWulf's New York facilities, adding more than 200 megawatts of IT load capacity. The influx of capital and Google's backing will allow the company to adopt a more strategic financing approach.
Market Reaction
Investors welcomed the announcement. WULF stock surged as much as 48% in intraday trading, hitting $8.11 before settling near $7.50, still up 37% for the day.
The partnership with Fluidstack and support from Google open new horizons for TeraWulf, allowing the company to combine bitcoin mining with opportunities in AI and high-performance computing.
