TeraWulf is reportedly planning $3 billion in funding through Morgan Stanley with Google’s backstop as the mining firm pivots to AI.
Data Center News
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Google has acquired a 5.4% stake in Bitcoin miner Cipher Mining by backstopping $1.4 billion of Fluidstack’s obligations in a $3 billion, 10-year AI data center deal.
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Cipher, Terawulf, Iris Energy, Hive and Bitfarms rallied sharply in September, outpacing Bitcoin despite tightening mining economics and weaker onchain activity.
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TeraWulf’s chief strategy officer, Kerri Langlais, said Google has become its largest shareholder, providing “powerful validation” from a leading tech giant.
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While crypto chases AI token hype, smart money invests in compute infrastructure. Like the gold rush, those who own the rails — not the miners — get rich.
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The Bitcoin miner’s pivot into AI infrastructure hosting includes a decade-long colocation agreement with Fluidstack, backed by Alphabet’s Google.
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MARA Holding’s expansion into AI and high-performance computing is expected to close in Q4, and comes amid a steep rise in Bitcoin mining difficulty.
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OpenAI expands Stargate with Oracle to surpass 5 GW of AI power, while Elon Musk outlines plans for xAI to deploy 50 million H100-scale units in 5 years.
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Poseidon secures $15 million led by a16z Crypto to build a decentralized, IP-cleared data pipeline for AI training.
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Ignoring the reduced customer acquisition costs made possible by AI places businesses at a significant disadvantage, O'Leary said.
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CoreWeave acquires Bitcoin mining giant Core Scientific for $9 billion in an all-stock deal, boosting its data center capacity for AI and high-performance computing.
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Amazon is investing over $13 billion in expanding AI and cloud infrastructure in Australia, including new solar farms and data centers nationwide.
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The new data compression layer may address centralization risks in the crypto industry, such as the recent outage by Amazon Web Services.
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The bill has yet to pass in the US Senate but comes as Bitcoin miners are increasingly foraying into servicing AI models.
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One of three newly appointed directors to the board includes Jaime Leverton, the former CEO of Hut 8.
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