Google involved in BTC miner TeraWulf’s ‘standout’ hosting deal
Main Idea
TeraWulf's stock surged after announcing a 10-year high-performance computing deal with Fluidstack, backed by Google, which includes an 8% stake in the bitcoin miner and $370 million in estimated annual revenue.
Key Points
1. TeraWulf revealed a 10-year HPC colocation agreement with Fluidstack, with two five-year extension options, involving over 200 megawatts of IT load at its Lake Mariner datacenter.
2. Google is taking an 8% stake in TeraWulf by backstopping $1.8 billion of Fluidstack’s lease obligations, acquiring about 41 million shares.
3. The deal is expected to generate $370 million in annual revenue for TeraWulf.
4. The agreement resembles Core Scientific’s 12-year contracts with CoreWeave, which offered 200 MW of infrastructure for HPC services and $290 million in expected annual revenue.
5. TeraWulf’s deal includes a strategic investor (Google) and financial backstop, providing more stability compared to other similar agreements.
Description
Tech giant’s part in long-term HPC agreement gives it “more financial certainty” than other deals, consulting firm exec argues
Latest News
- Thursday links: Points, pancakes, DATs and merger arb2025-08-14 22:26:25
- The state of Solana in 6 charts2025-08-14 21:05:39
- Why Circle chose an L1 — and what it means for Ethereum2025-08-14 19:03:33
- Google involved in BTC miner TeraWulf’s ‘standout’ hosting deal2025-08-14 18:09:50
- Solana-compatible Star Atlas L1 plots December launch2025-08-14 17:25:49