Google Bets Big: TeraWulf’s $1.8B Bitcoin-to-AI Pivot Gets Silicon Valley Seal of Approval
Silicon Valley meets crypto mining—with a twist. Google just threw its weight behind TeraWulf’s audacious $1.8B gamble to repurpose Bitcoin infrastructure for AI. Here’s why Wall Street’s sweating.
From SHA-256 to GPUs
TeraWulf’s mining rigs are getting a second life training AI models—because apparently, even proof-of-work can pivot to profitability when Big Tech comes knocking. The move signals a growing trend: stranded crypto assets being retrofitted for the AI gold rush.
The fine print
While the deal’s framed as 'sustainable infrastructure repurposing,' cynics note it’s classic Google—backing the horse after the race’s halfway done. (And just wait for the tax incentives press release.) Either way, it’s a $1.8B bet that Bitcoin miners can outlast the ETF flippers and meme coin crowd.
Bottom line: When tech giants start bankrolling crypto’s leftovers, you know we’re either at the dawn of Web3’s next act—or another masterclass in vaporware rebranding. Place your bets.
Google’s crypto wallet policy
This development comes as Google Play updated its policies for crypto wallet providers in over 15 jurisdictions, including the US and the European Union.
According to the firm, crypto custodial wallet providers must be licensed and comply with local industry standards starting Oct. 29. US developers must register as money services businesses or money transmitters, while EU developers must register as crypto-asset service providers (CASPs).
The announcement had sparked significant confusion within the community, with industry stakeholders criticizing the firm’s unilateral action.
However, the firm has clarified that non-custodial crypto wallets remain outside the policy’s scope.
Speaking on this, Google Cloud’s Rich Widmann, head of Strategy for Web3, said:
“The policy was not intended to cover non-custodial wallets but imprecisely used the term “software wallets” without nuance which led to confusion. It is not 2015 anymore – we are working alongside dozens of crypto devshops and protocols to enable this ecosystem.”
