Bitcoin Miner TeraWulf (WULF) Stock Rallies 21% Amid $9.5B AI Infrastructure Lease

Core Insights - TeraWulf Inc. has entered a significant 25-year lease contract valued at approximately $9.5 billion with Fluidstack to enhance its AI infrastructure [1][2] - The partnership grants TeraWulf a 51% majority stake and exclusive rights to future Fluidstack-led projects, with financing supported by a $1.3 billion commitment from Google [2] - The project aims to expand TeraWulf's high-performance computing (HPC) platform to over 510 MW of critical IT load, reinforcing its position as a low-carbon digital infrastructure provider [3] Financial and Operational Highlights - The Abernathy facility is expected to be operational in the second half of 2026, with plans for future expansions already in consideration [4] - TeraWulf is transitioning from a traditional bitcoin mining company to a diversified AI infrastructure provider, targeting an annual increase of 250 MW to 500 MW in contracted IT load [5] - The partnership indicates a growing convergence between cryptocurrency mining infrastructure and institutional AI computing needs [6] Market Reaction - Following the announcement, TeraWulf's stock price surged by 22.88%, reaching $16.76 [7]