Terawulf (WULF) Rockets After Google $1.8-Billion Backing

We recently published 10 Stocks Crushing While Wall Street Naps. Terawulf Inc. (NASDAQ:WULF) is one of the top performers on Thursday.

Shares of Terawulf soared by as much as 60 percent on Thursday as investors cheered an $8.7-billion revenue opportunity backed by Google for the delivery of critical IT load to a premier AI cloud platform.

In a statement on Thursday, Terawulf Inc. (NASDAQ:WULF) said it entered into an agreement with Fluidstack for the delivery of 200 MW of critical IT load at its Lake Mariner data center campus in Western New York.

Terawulf (WULF) Rockets After Google $1.8-Billion Backing

The agreements represent approximately $3.7 billion in contracted revenue over the initial 10-year term, with an option for two five-year extensions, which, if exercised, would bring the total contract revenue to $8.7 billion.

According to Terawulf Inc. (NASDAQ:WULF), it received a $1.8-billion fund backing from Google to support project-related debt financing for the Fluidstack project, in exchange for warrants covering 41 million WULF common shares or 8 percent pro-forma equity.

The first phase of deployment will involve 40 MW of critical IT load and is expected to come online in the first half of 2026, with the remaining 160 MW targeted for completion by year-end.

In addition to Google’s backstop, Terawulf Inc. (NASDAQ:WULF) announced its intention to access the capital market, but did not elaborate on whether in the form of debt or share sale.

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