Bitcoin Mining Company TeraWulf (Ticker: WULF) Sees Stock Surge After Signing 10-Year Custody Agreements with AI HPC Provider Fluidstack
Bitcoin mining company TeraWulf (Ticker: WULF) experienced a stock surge of approximately 59% following the announcement of two 10-year custody agreements with AI high-performance computing service provider Fluidstack.
According to a press release issued on Thursday, the contracts are expected to generate approximately $3.7 billion in revenue during the initial 10-year term, with two five-year extension options that could add an additional $5 billion in revenue. If fully exercised, the total contract value could reach $8.7 billion.
Notably, to support this expansion, internet giant Google will provide a guarantee of $1.8 billion for Fluidstack’s leasing obligations and will receive warrants to purchase about 8% equity in TeraWulf.
TeraWulf develops, owns, and operates environmentally sustainable, industrial-grade data center infrastructure in the United States, specifically designed for high-performance computing (HPC) hosting and Bitcoin mining. César Maklary, co-founder and president of Fluidstack, stated:
Under the terms of the agreement, TeraWulf will provide over 200 megawatts of “critical IT load” at its data center located in western New York, powered by hydro and nuclear energy. A previous report by The Block noted that TeraWulf’s investments in high-performance computing have led to an increase in its net losses for 2025 to date.
The company anticipates activating 40 megawatts of computing capacity in the first half of 2026 and completing the full deployment of 200 megawatts by the end of that year. According to company data, Fluidstack provides single-tenant GPU clusters to companies such as Mistral AI and Black Forest Labs for AI training and inference.
