Українська
Русский
English
Google Becomes the Largest Shareholder of Bitcoin Miner TeraWulf
Tech giant Google (NASDAQ:GOOGL) has become the largest shareholder of TeraWulf, increasing its stake to 14%. The company received additional shares in exchange for expanding its guarantee support under a lease deal between the miner and AI infrastructure provider Fluidstack.
It is known that TeraWulf signed a 10-year data center lease agreement with Fluidstack, and Google will back the lease obligations with a financial guarantee known as a “safety net.”
According to TeraWulf’s Chief Strategy Officer Kerry Langlais, the amount the tech giant is ready to provide under the agreement totals $3.2 billion. In return, Google receives 73 million shares of the bitcoin miner, which corresponds to a 14% stake.
With these new shares, Google becomes the largest shareholder of TeraWulf, which serves as a strong endorsement from one of the world’s leading tech companies and highlights the strength of our carbon-free infrastructure and the scale of opportunities ahead, a representative of the bitcoin miner said.
According to TeraWulf’s forecasts, the deal with Fluidstack will generate $6.7 billion in revenue, and with the extension of the data center lease, revenue could reach $16 billion.
See also: "Qubic mining pool plans to launch a 51% attack on the Dogecoin blockchain"
