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August 18, 2025
TeraWulf Stock: TeraWulf’s stock surged more than 10% after Google increased its stake in the bitcoin miner and data center operator. The new funding will support an expansion of the company’s Lake Mariner facility in New York.
Under the agreement, Google will add up to $1.4 billion in backstop, bringing its total investment to about $3.2 billion.
The move raises Google’s stake in TeraWulf to 14%, up from 8%. It also gives Google the option to purchase around 32.5 million shares.
CEO Paul Prager said the agreement strengthens the company’s partnership with Google. He explained that the goal is to advance artificial intelligence infrastructure.
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A week earlier, TeraWulf’s stock soared after it signed two long-term computing deals with AI cloud provider Fluidstack.
The 10-year agreements will add more than 200 megawatts of capacity at the Lake Mariner data center in Western New York. TeraWulf’s stock has surged nearly 90% in just a week.
“This is a turning point for the industry,” CEO Paul Prager told CNBC’s Power Lunch.
He said real value comes from strong energy infrastructure, a capable leadership team, and people who know how to put it to work.
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Prager added that the timing is right — and Lake Mariner is where it all comes together.
On Monday, TeraWulf said its critical IT load will rise to more than 360 megawatts.
Fluidstack has agreed to add another 160 megawatts at the Lake Mariner facility.
The deal secures $6.7 billion in contracted revenue.
With lease extensions, that total could climb to as much as $16 billion.
TeraWulf expects operations to begin in the second half of 2026.
TeraWulf CTO Nazar Khan said Fluidstack’s quick decision to expand highlights the strength and flexibility of the company’s infrastructure.
In a separate update, TeraWulf announced it will issue $400 million in convertible senior notes, which come due in 2031.
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