Terrawolf raises $3 billion to build data centers with Google's backing

Bitcoin mining company TeraWulf is expanding its data centers with the backing of Google to prepare for its AI transformation.
According to a Bloomberg report on the 25th (local time), Terrawolf Chief Financial Officer (CFO) Patrick Fleury
Rick Fleury said, "We plan to raise approximately $3 billion through Morgan Stanley to build a data center, and in the process, we will
The deal could be launched in the high-yield bond or leveraged loan market in October, with Google seeking a $1.4 billion loan to raise debt.
That brings Google's total backing to $3.2 billion. Google's backing comes as the Morgan Stanley-led deal received higher ratings from credit rating agencies.
However, negotiations are still ongoing and it's unclear whether a deal will actually go through, Bloomberg reported.
Meanwhile, Terrawolf signed a 10-year partnership with AI infrastructure provider Fluidstack in August last year.
The deal is worth $3.7 billion, with Google providing a guarantee and acquiring a 14% stake in Terrawolf. Including this latest round of funding, Google has raised a total of $3.2 billion.
The move signals a long-term investment in the AI transformation of cryptocurrency mining infrastructure.