Bitcoin Miner TeraWulf (WULF) Stock Jumps 25% On AI News
TeraWulf is accelerating its shift into artificial intelligence through a new joint venture with AI cloud provider Fluidstack — backed by Google.
Shares of TeraWulf (NASDAQ: WULF) jumped more than 25% Tuesday morning after the company announced a pivot to AI.
TeraWulf, one of the largest publicly traded bitcoin miners, is accelerating its shift into artificial intelligence infrastructure through a new joint venture with AI cloud provider Fluidstack.
- The companies plan to build 168 megawatts (MW) of high-performance computing capacity at TeraWulf’s Abernathy, Texas, campus.
- A 25-year hosting agreement valued at roughly $9.5 billion in contracted revenue.
- TeraWulf will hold a 51% stake in the venture and retain exclusive rights to participate in Fluidstack’s next ~168 MW project on similar terms.
No direct quotes available in the given text.
Author's summary: TeraWulf shifts to AI, partners with Fluidstack.
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