TeraWulf Secures $3 Billion Debt Financing with Google’s Backing
- TeraWulf, a Bitcoin mining firm, is raising $3 billion in debt with support from Google.
- Google has acquired a 14% stake in TeraWulf, becoming its largest shareholder.
- Morgan Stanley arranged the financing deal, which includes a $3.2 billion financial backstop from Google.
- The partnership features a 10-year hosting agreement for over 200MW of liquid-cooled capacity focused on AI services.
- TeraWulf’s stock surged over 70% in one day following the announcement of Google’s increased involvement.
TeraWulf is leveraging its existing energy infrastructure to expand into AI hosting services alongside its traditional Bitcoin mining operations. This strategic move positions the company as a significant player in AI infrastructure development, supported by Google’s substantial investment and partnership.
Source (3.2)https://cryptobriefing.com/terawulf-3b-funding-google-ai-bitcoin-mining-data-centers/?rand=59535
