On Tuesday, when the overall performance of bitcoin mining stocks was sluggish, Nasdaq-listed TeraWulf announced that it would further enhance artificial intelligence computing power through its joint venture with artificial intelligence cloud company Fluidstack, supported by Google. The company's share price soared nearly 17% after the news was announced.
Shares in TeraWulf (ticker: WULF), which closed at $17 on the news, fell back to $16.24 in after-hours trading, according to Yahoo Finance.
The Easton, Maryland-based company said that under a 25-year escrow agreement, the two parties will develop 168 trillion watts of critical IT loads at a site in Abernathy, Texas, later this year. TeraWulf will hold a 51% majority stake in the joint venture, an announcement said.
Bitcoin miner TeraWulf shares soar on Google-backed artificial intelligence expansion plans
2025-10-28 23:46:09
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