Google Invests $3.2 Billion in TeraWulf, Boosting Bitcoin Mining Company’s Stock

Google’s recent investment of $3.2 billion in TeraWulf, a Bitcoin mining company, has led to a significant surge in the stock price. This increased stake now represents 14% ownership as Google intends to provide up to $3.2 billion in collateral to support the expansion of TeraWulf’s facility in western New York. The funding will be used for lease requirements and operational improvements by the AI-focused company Fluidstack, a partner with TeraWulf. The deal involves debt financing and warrants, which grant Google significant influence over TeraWulf’s future.