TeraWulf Inc. (WULF)

TeraWulf secures a $6.7B deal with Fluidstack, backed by Alphabet, as it scales data center capacity and eyes HPC growth.

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Shares of TeraWulf (WULF 11.96%) flew higher in August, finishing the month up 83.1%. The massive gain came as the S&P 500 (^GSPC 0.27%) rose 3.5% and the Nasdaq Composite (^IXIC 0.37%) rose 3.9%.

By agreeing to backstop leases at a New York data center campus run by TeraWulf (WULF -2.51%), Alphabet (GOOG 1.29%) (GOOGL 1.27%) picked up some stock warrants that could translate into a meaningful equity stake in a company that mines Bitcoin (BTC -0.75%).

EASTON, Md., Aug. 22, 2025 (GLOBE NEWSWIRE) -- TeraWulf Inc. (Nasdaq: WULF) (“TeraWulf” or the “Company”), a leading owner and operator of vertically integrated, predominantly zero-carbon digital infrastructure, today announced that the initial purchasers of 1.00% Convertible Senior Notes due 2031 (the “Convertible Notes”) have fully exercised their option to purchase an additional $150 million aggregate principal amount of notes. The option was exercised on August 21, 2025, and the purchase was completed on August 22, 2025. Including the greenshoe, the total principal amount of Convertible Notes sold in the offering was $1.0 billion.

As the tech industry continues to evolve, companies like TeraWulf Inc. WULF are strategically positioning themselves to capitalize on emerging opportunities in high-performance computing. This shift is drawing significant attention from investors eager to participate in the expansion of data center capabilities.

TeraWulf (NASDAQ: WULF), a firm previously characterized by the volatile nature of Bitcoin mining, has recently made an impressive shift that has propelled its stock upwards. On August 14, 2025, the company revealed a significant 10-year agreement with AI cloud service provider Fluidstack, a contract that immediately altered its course and investor outlook.

Cantor Fitzgerald raised the firm's price target on TeraWulf to $14 from $11 and keeps an Overweight rating on the shares. The firm sees additional share upside as TeraWulf nears energization and announces additional contracts. The Fluidstack deal with Google financing affirms the share thesis, driving average annual EBITDA of more than $600M, the analyst tells investors in a research note. Cantor believes that with Google's backing, TeraWulf's path to contracting all of its capacity is accelerated.

Google is deepening its push into artificial intelligence infrastructure with plans to lift its stake in bitcoin miner-turned-data-centre operator TeraWulf to 14%. The technology group will provide a $3.2 billion financing backstop in return for warrants to purchase more than 73 million shares, supporting TeraWulf's expansion of its Lake Mariner campus in western New York.

EASTON, Md., Aug. 18, 2025 (GLOBE NEWSWIRE) -- TeraWulf Inc. (Nasdaq: WULF) (“TeraWulf” or the “Company”), a leading owner and operator of vertically integrated, predominantly zero-carbon digital infrastructure, today announced the upsize and pricing of its offering of $850 million aggregate principal amount of 1.00% Convertible Senior Notes due 2031 (the “Convertible Notes”). The Convertible Notes will be sold in a private offering to persons reasonably believed to be qualified institutional buyers in reliance on Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”).

Shares of TeraWulf (WULF 4.46%) jumped Monday, finishing the day up 4.6%. The spike comes as the S&P 500 and Nasdaq Composite were little changed.

Terawulf (WULF) rallied to a 3-year high after it the Bitcoin miner owner expanded opportunities for its balance sheet. It's not just financials — partnerships added momentum to the company's rise.

TeraWulf shares rallied after Google hiked its stake in the bitcoin miner and datacenter company. The deal brings Google's total backstop to about $3.2 billion and allows the technology giant to buy about 32.5 million shares.

Shares of TeraWulf rose about 13% in premarket trading on Monday after the data centre operator announced a major expansion at its Lake Mariner campus in Western New York, backed by a new round of funding from Alphabet's Google.