🚀 TeraWulf Stock Rockets 70% After Google Goes All-In With Double Stake

Wall Street scrambles as a crypto miner becomes Big Tech's shiny new toy.

Google just placed a monster bet on bitcoin's backbone—and traditional finance didn't see it coming. The search giant doubled down on TeraWulf, sending the mining stock soaring 70% in a single trading session. Suddenly, the 'risky' crypto sector looks like tech's hottest growth play.

Behind the surge: TeraWulf's nuclear-powered mining ops now account for 4% of Bitcoin's total hash rate. Their zero-carbon energy deals make them the ESG darling of an industry still shaking off its coal-fired reputation.

Meanwhile, legacy investors who dismissed crypto mining as 'digital pickaxes' are left holding spreadsheets while algos front-run their catch-up buys. The ultimate twist? Google's move comes just as old-money institutions finally warm to spot BTC ETFs—classic late-to-the-party behavior.

One thing's clear: When tech titans start treating miners like infrastructure plays, the game has changed. Whether this is peak smart-money positioning or just the start of a hash rate arms race depends on who you ask (and how heavy their bags are).

Bitcoin miner TeraWulf is suddenly Wall Street’s hot topic. Its stock shot up more than 70% in a week after Google boosted its stake in the company, betting big on its shift from pure crypto mining into powering artificial intelligence (AI).

CEO Paul Prager highlights strategic alignment with Google

On Monday, shares jumped another 12% as Google increased its stake in TeraWulf from 8% to 14%. This new deal gives Google the right to buy about 32.5 million shares and adds $1.4 billion in fresh financial backing, bringing Google’s total support to nearly $3.2 billion.

This isn’t just a casual investment, Google is essentially underwriting project debt tied to TeraWulf’s CB-5 data center, boosting confidence that the company can scale. For Google, the warrants give them a shot at even bigger gains if TeraWulf’s stock keeps climbing.

TeraWulf CEO Paul Prager called the deal a “strategic alignment” with Google to build the backbone for AI infrastructure, positioning its Lake Mariner site in New York as a hub for both crypto and AI.

CB-5 facility operations expected in the second half of 2026

The Google announcement followed a major partnership with AI cloud provider Fluidstack. Last week, TeraWulf signed two 10-year computing deals with Fluidstack, securing more than 200 megawatts of capacity at Lake Mariner. Shortly after, Fluidstack exercised an option for another 160 MW, raising the total contracted IT load to roughly 360 MW.

Google has also been underwriting $1.8 billion in Fluidstack’s lease obligations, giving it another 41 million WULF shares in return. This earlier agreement had already given Google an 8% stake, and with the latest deal, its influence has doubled.

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These partnerships are projected to generate $6.7 billion in contracted revenue, with the potential to reach $16 billion if lease extensions are included. Operations at the new CB-5 facility are expected to begin in the second half of 2026, marking a major step in TeraWulf’s pivot toward AI infrastructure.

Backing from Google and Fluidstack strengthens TeraWulf’s position

For years, Bitcoin miners like TeraWulf have faced rising costs and shrinking profit margins. But now, idle mining power is being repurposed to fuel the booming AI sector. Google’s backing signals confidence that this pivot is the real deal.

Still, analysts caution it won’t be easy. Running AI infrastructure requires different technology and upgrades compared to traditional crypto mining. The transition may be bumpy, but with Google and Fluidstack in its corner, TeraWulf suddenly looks like more than just another miner.

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FAQs

Google is betting on TeraWulf’s strategic pivot to AI. It increased its stake to 14% to support the expansion of TeraWulf’s data centers for AI infrastructure.

TeraWulf has a 10-year deal with Fluidstack, an AI cloud provider, to deliver over 360 MW of computing capacity for AI workloads at its Lake Mariner site.

Google is underwriting $3.2 billion in project debt for TeraWulf’s CB-5 data center, boosting confidence in its ability to finance and scale its AI infrastructure.