Terawulf (WULF) Cracks Past New All-Time High on Expanded Fluidstack Deal, Higher Google Financial Backing

We recently published 10 Stocks Shine Brighter Than Wall Street. Terawulf Inc. (NASDAQ:WULF) is one of Monday’s top performers.

Terawulf extended its winning streak to a fourth straight day on Monday to break past a new all-time high as investors cheered an expanded partnership with Google and Fluidstack that could potentially generate the company $16 billion in revenues.

At intra-day trading, Terawulf Inc. (NASDAQ:WULF) soared to as high as $10.71, marking a 19.4-percent increase from its previous close, before paring gains to end the day just up by 4.57 percent at $9.38 apiece.

This followed updated announcements that Fluidstack was expanding its data center at the Lake Mariner campus in Western New York, which was expected to require another 160 MW of critical IT load supply from Terawulf Inc. (NASDAQ:WULF), on top of the 200 MW initially signed.

Assuming Fluidstack exercises two lease extensions, the contract would help generate $16 billion in total revenues for Terawulf Inc. (NASDAQ:WULF).

In connection with the increased capacity, technology giant Google also announced intentions to invest $3.2 billion in Terawulf Inc. (NASDAQ:WULF) to support the project, in exchange for warrants to acquire 32.5 million WULF common shares, or a 14-percent pro-forma equity.

“This expansion underscores the unmatched scale and capabilities of the Lake Mariner campus,” said Terawulf CEO Paul Prager.

Image by Лечение Наркомании from Pixabay

“We are not only increasing our contracted capacity with Fluidstack, but also further deepening our strategic alignment with Google as a critical financial partner in delivering the next generation of AI infrastructure,” he added.