Terawulf Secures $3 Billion in Funding for Data Center

Terawulf, a cryptocurrency mining company, has raised approximately $3 billion to construct a data center, supported by investments through Morgan Stanley and Google.

This funding round is aimed at building a data center with support from Google, as reported by Bloomberg on Thursday.

Negotiations are set to commence in October regarding the high-yield bond or leveraged loan market. Google is set to back $1.4 billion of the debt financing, bringing the total to $3.2 billion.

With Google’s involvement, the Morgan Stanley transaction could potentially receive a better rating from credit agencies. Yet, the specifics of this deal remain under discussion, and there’s no guarantee it will proceed, as noted by Bloomberg.

The current surge in AI has led to significant demand for data center space, GPU chips, and dependable power sources. This situation has positioned larger cryptocurrency mining firms favorably since they already have established infrastructure and power resources.

Ten-Year Agreement with Fluidstack

In a recent development, Terawulf announced a 10-year colocation lease agreement with Fluidstack, a provider of AI infrastructure.

This arrangement, valued at $3.7 billion, also involved Google, which now holds a 14% stake in Terawulf.

Related: Terawulf finalizes $3.7 billion AI hosting agreement, stock spiked

Google’s total commitment now stands at $3.2 billion across these transactions, signaling a serious long-term investment in crypto infrastructure.

Cointelegraph reached out to Terawulf for more details, though no immediate reply was received.

Stock Performance of Terawulf

Terawulf’s stock (Wulf) saw a 12% increase on Thursday, hitting a peak of 3.7% before slightly retreating.

Following the initial announcement in August, Terawulf’s shares surged, rising 80% in just a few days. Overall, the stock has climbed 94% since the beginning of 2025, reflecting strong performance.

Similar Agreements in Crypto Mining

In related news, Cipher Mining also announced a partnership with Fluidstack, supported by Google, securing a similar agreement and obtaining a 5.4% stake in the company.

Cipher will leverage Fluidstack’s data center capabilities through a colocation pact, with Google backing its shares and covering $1.4 billion in obligations.

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