Home / Business and Economy / TeraWulf Reports 87% Revenue Surge, Inks $3.7B AI Deal with Google
TeraWulf Reports 87% Revenue Surge, Inks $3.7B AI Deal with Google
11 Nov
Summary
- TeraWulf's Q3 revenue up 87% to $50.6M
- Signed $3.7B AI hosting deal with Fluidstack, backed by Google
- Google takes 8% stake in TeraWulf as part of the deal
In the third quarter of 2025, Bitcoin miner and data center operator TeraWulf reported a strong financial performance, with revenue reaching $50.6 million, an 87% increase compared to the same period last year. The company attributed this growth to a combination of factors, including the rising price of Bitcoin, an expansion of its mining capacity, and the start of high-performance computing lease revenue.
Notably, TeraWulf has been making strategic moves to diversify its business beyond just Bitcoin mining. In August 2025, the company announced a 10-year, $3.7 billion AI hosting deal with Fluidstack, a leading AI infrastructure provider. As part of this agreement, tech giant Google has signed on to backstop $1.8 billion worth of Fluidstack's lease obligations. In return, Google has received a significant equity stake in TeraWulf, representing approximately 8% of the company's shares.
"These transactions demonstrate the strength of our platform and the trust that world-class technology partners place in our ability to execute," said Paul Prager, TeraWulf's chief executive officer. The company is now focused on "execution while advancing the next phase of growth for 2027 and beyond."
