Bitcoin Miner TeraWulf (WULF) Stock Jumps 25% on Positive AI News
TeraWulf's stock surged over 25% following the announcement of a major joint venture to build AI infrastructure.Summary
TeraWulf (WULF), a publicly traded bitcoin miner, saw its stock jump more than 25% after announcing an accelerated pivot into artificial intelligence infrastructure via a new joint venture with AI cloud provider Fluidstack. This venture plans to build 168 megawatts (MW) of high-performance computing capacity at TeraWulf’s Texas campus under a 25-year hosting agreement potentially worth $9.5 billion in contracted revenue. TeraWulf will hold a 51% stake, and the project's financing is supported by Google, which committed to back about $1.3 billion of Fluidstack’s long-term lease obligations. This deal expands TeraWulf’s contracted high-performance compute pipeline to over 510 MW, aligning with its strategy to target 250 MW to 500 MW of new contracted capacity annually. The company also reported preliminary Q3 revenue between $48 million and $52 million. This move reflects a broader trend where leading Bitcoin miners are leveraging their data infrastructure to enter the AI and High-Performance Computing (HPC) sectors.
(Source：Bitcoin Magazine)