Terawulf, a well-known Bitcoin miner, has secured a strategic partnership with Google as part of its high-performance computing (HPC) colocation agreement with Fluidstack.
According to a statement on August 14, the search engine giant will backstop its $1.8 billion Fluidstack lease obligation and provide important support for project-related debt financing.
The arrangement grants Google a warrant to acquire approximately 41 million shares of Terawulf common stock. If exercised, this represents an approximate 8% Pro Forma Equity Stake.
This strategic support will enable Terawulf, a leading digital infrastructure operator, to advance two 10-year HPC colocation agreements with Fluidstack.
The agreement allows Terawulf to provide more than 200 MW of critical IT loads from the Lake Mariner Data Center campus. The first 10-year term is valued at around $3.7 billion, with two five-year extension options likely to boost total potential revenues to $8.7 billion.
In particular, deployment is already underway, with approximately 40 MW of capacity expected to be released in the first half of 2026.
Terawulf plans to provide over 200 MWs online by the end of 2026, providing significant short-term infrastructure support to Fluidstack, and strengthening its position as the largest digital infrastructure provider.
Google’s Crypto Wallet Policy
The development comes as Google Play updated crypto wallet provider policies in more than 15 jurisdictions, including the US and the European Union.
According to the company, crypto management wallet providers must obtain their licenses starting October 29th and comply with local industry standards. US developers must register as money services business or money transmitters, while EU developers must register as Cryptographic Asset Service Providers (CASPs).
The announcement caused a major disruption within the community, with industry stakeholders criticizing the company’s unilateral behavior.
However, the company has made it clear that non-lawful crypto wallets are outside the scope of their policy.
Speaking of this, Rich Widmann of Google Cloud said he is Head of Strategy for Web3.
“This policy was not intended to cover non-radical wallets, but inaccurately used the term “software wallet” without any confusing nuances. It’s not 2015.
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