Bitcoin Miner TeraWulf (WULF) Stock Jumps 25% On AI News

Shares of TeraWulf (NASDAQ: WULF) rose greater than 25% Tuesday morning after the corporate introduced a transfer into AI.

TeraWulf, one of many largest publicly traded bitcoin miners, is accelerating its shift to synthetic intelligence infrastructure by a brand new three way partnership with AI cloud supplier Fluidstack.

The businesses plan to construct 168 megawatts (MW) of high-performance computing capability at TeraWulf’s campus in Abernathy, Texas, underneath a 25-year internet hosting settlement price roughly $9.5 billion in contracted income.

TeraWulf will personal a 51% stake within the firm and retain unique rights to take part in Fluidstack’s subsequent ~168 MW challenge underneath comparable phrases. Development is anticipated to be accomplished within the second half of 2026, with the overall challenge costing $8 million to $10 million per MW. announced.

To help the challenge financing, Google has dedicated to supporting roughly $1.3 billion of Fluidstack’s long-term lease obligations, enhancing the credit score profile of the three way partnership’s debt construction.

No share points or warrants had been included as a part of the deal.

The announcement expands TeraWulf’s contracted high-performance computing pipeline to greater than 510 MW and helps an up to date development technique concentrating on 250 MW to 500 MW of recent contracted capability per yr.

The corporate, greatest identified for its bitcoin mining operations, has more and more targeted on AI-focused knowledge heart improvement amid a market shift towards GPU-based computing demand.

“Securing greater than 510 MW of crucial IT load prior to now ten months is direct proof of our development technique,” mentioned CEO Paul Prager.

Along with the enlargement, TeraWulf reported preliminary third-quarter income of $48 million to $52 million – up about 84% from a yr earlier – and adjusted EBITDA of $15 million to $19 million.

Bitcoin miners concentrate on AI

Main Bitcoin mining firms are turning to AI along with their mining efforts. Firms like Marathon Digital, Riot Platforms and CleanSpark are seeing sturdy inventory features, however are additionally specializing in synthetic intelligence and high-performance computing (HPC), leveraging their large-scale power and knowledge infrastructure.

This transition positions miners as rising know-how gamers past cryptocurrency and attracts investor curiosity.

Different firms, together with Core Scientific, Bitdeer and Hut 8, are following swimsuit: Bitcoin miners have gotten a serious contributor to the AI-driven digital economic system, whereas sustaining publicity to Bitcoin.

Based on their web site, TeraWulf is a US-based digital asset know-how firm that owns and operates sustainable knowledge facilities for high-performance computing (HPC) and bitcoin mining.