Google Expands Stake in TeraWulf to 14% as AI and Bitcoin Mining Converge

Google has deepened its partnership with Bitcoin miner TeraWulf, raising its stake in the company to approximately 14% while boosting its total backstop commitment to $3.2 billion. The move strengthens Google’s role in supporting the intersection of high-capacity data infrastructure, artificial intelligence, and cryptocurrency mining.

The announcement comes alongside news that AI cloud platform Fluidstack will expand its operations at TeraWulf’s Lake Mariner campus in Western New York. The expansion adds a new purpose-built data center, CB-5, with 160 megawatts (MW) of critical IT load, slated to go online in the second half of 2026. Once complete, Fluidstack’s total contracted IT load at the campus will reach 360 MW, representing an estimated $6.7 billion in contracted revenue and potentially rising to $16 billion with lease extensions.

Following the news, shares of TeraWulf (WULF) jumped by roughly 13%, according to data from Yahoo Finance. The price movement reflects investor optimism about the company’s strengthened strategic ties with Google and the rapid growth of its AI infrastructure capacity.

Google’s increased commitment includes an additional $1.4 billion backstop for project-related debt financing, as well as warrants to acquire 32.5 million shares of TeraWulf common stock. This elevates its financial involvement and provides the company with a stronger foothold in one of the largest high-performance computing campuses in the United States.

TeraWulf CEO Paul Prager emphasized that the expansion reinforces both the scale and strategic importance of Lake Mariner. “By adding CB-5, we are not only increasing our contracted capacity with Fluidstack, but also further deepening our alignment with Google as a critical financial partner in delivering the next generation of AI infrastructure,” he said.

CTO Nazar Khan noted that Fluidstack’s accelerated expansion after last week’s 10-year hosting deal demonstrates confidence in TeraWulf’s infrastructure. CB-5, like earlier data centers on the campus, will be purpose-built for high-density, liquid-cooled workloads. The facility will leverage Lake Mariner’s robust transmission capacity, sustainable water cooling systems, and ultra-low-latency connectivity.

The Lake Mariner campus has quickly emerged as a centerpiece in the convergence of Bitcoin mining and artificial intelligence. With sustainability at its core, the facility is designed to handle massive compute requirements while maintaining operational efficiency. TeraWulf and Fluidstack are already in discussions about further expansions, highlighting the accelerating demand for AI-powered high-performance computing.

For Google, the investment extends its influence in both AI and blockchain infrastructure at a time when the demand for scalable data centers is surging. For TeraWulf, the strengthened partnership provides stability and credibility as it cements its position as a leader in sustainable, large-scale computing.