Crypto Mining Company’s Terawulf raises around $3 billion to build the data center through Morgan Stanley, with Tech Giant Google providing support.
Terawulf’s funding round will help build data centers with a Google-supported structure, according to company finance director Patrick Fleury, who spoke to Bloomberg on Thursday.
The agreement could soon begin in October on the high-yield bond or leveraged loan market. Google’s backstop commitment to supporting debt financing is an additional $1.4 billion, totaling $3.2 billion.
With Google’s support, Morgan Stanley Transaction could potentially give a higher rating from credit rating agencies. However, terms of the transaction are still under negotiation and there is no guarantee that the transaction will begin, Bloomberg said.
The AI boom has created a serious shortage of data center space, GPU chips and reliable power access, and large crypto mining companies are well placed as they already have two shortage resources, their existing data center infrastructure, and secure power capacity.
Google-backed Fluidstack contract
In August, Terawulf announced a 10-year colocation lease agreement with AI infrastructure provider Fluidstack.
The deal worth $3.7 billion in contract revenue also bounced back to Google, acquiring a 14% stake in Terawulf.
Related: Terawulf secures a Google-backed $3.7 billion AI hosting agreement, with stocks surge
Google is currently committed to $3.2 billion in both transactions, indicating a serious long-term investment in crypto-to-crypto infrastructure conversion.
Cointelegraph contacted Terawulf for further details, but no immediate response was received.
Terawulf Stock Spikes
According to Google Finance, Terawulf Stock (Wulf) rose 12% to 12% on Thursday, reaching 3.7% before retreating before retreating.
The company’s shares surged after its initial announcement in August, and rose 80% in the following days. Terawulf’s stock price has risen 94% since the beginning of 2025, and its stock price has been strong.
Terawulf shares have skyrocketed since the initial agreement. sauce: Google Finance
Crypto mining signs similar transactions
Cipher Mining announced a very similar deal on Thursday, partnering with the same AI cloud farm Fluidstack, backed by Google, and acquired a 5.4% stake in the company.
cipher provides href = “https://cointelegraph.com/magazine/help-smart-home-devices-hacked-steal-crypto-coin-cybersecurity/” title = “null”>‘Help! My robot vac is stealing my bitcoin: when smart devices attack
