Google укрепляет свои позиции в биткоин-майнинге, увеличивая долю в TeraWulf до 14% Translation: Google strengthens its position in Bitcoin mining by increasing its stake in TeraWulf to 14%

The Google Corporation has increased its stake in TeraWulf to 14% by extending financial guarantees for a partnership between the miner and the cloud AI platform Fluidstack.

Initially, the tech giant announced a $1.8 billion guarantee, but later it was revealed that the amount had grown to $3.2 billion. In exchange, Google received options to acquire 73 million shares of TeraWulf, which represents 14% of the company’s equity.

TeraWulf’s Chief Strategy Officer, Kerry Langlais, described the corporation’s investment as a confirmation of the company’s reliable eco-friendly infrastructure. TeraWulf utilizes 91% carbon-free energy.

Following the upcoming Bitcoin halving in April 2024, many Bitcoin miners have started diversifying their operations by reallocating resources to meet AI demands. TeraWulf intends to maintain its digital gold mining, but will primarily focus on AI hosting.

Langlais explained that, for now, cryptocurrency mining provides a cash flow and allows participation in energy grid balancing through flexible loads. In the long run, the miner sees greater potential in artificial intelligence and high-performance computing.

It is anticipated that the agreement with Fluidstack will generate revenues of $6.7 billion for TeraWulf, with the possibility of expanding to $16 billion upon lease renewal.

In the past week, the miner’s stock price has surged by 73.7%, reaching $10.57. By the close of trading on August 18, the price adjusted to $9.38.

Additionally, it’s worth noting that in March, the AI startup CoreWeave, which previously focused on cryptocurrency mining, signed a partnership deal with OpenAI valued at up to $11.9 billion.