TeraWulf (WULF) shares surged after a $3.7 billion deal with Fluidstack, backed by Alphabet, for high-performance computing colocation agreements. Google underwrites $1.8 billion in lease obligations, acquiring an 8% equity stake. Analysts raised price targets to $13, signaling TeraWulf’s pivot into AI infrastructure.

TeraWulf, a digital asset technology company based in Maryland, specializes in environmentally sustainable Bitcoin mining facilities with a market cap of $3.5 billion. WULF stock rallied 59% in a day after the AI hosting deal announcement, reaching a high of $9.23 on Aug. 15.

TeraWulf reported Q2 2025 financial results with revenue up 33.9% YOY to $47.6 million. Bitcoin mining capacity increased 45.5% YOY to 12.8 EH/s, but the company saw a net loss of $18.4 million for the quarter. Adjusted EBITDA was $14.5 million with $90 million in cash and Bitcoin holdings.

TeraWulf aims to deliver 72.5 MW of HPC hosting capacity to Core42 in 2025 and reach 200-250 MW operational capacity by the end of 2026. Analysts forecast a loss per share of $0.26 for fiscal 2025, expanding by 37% YOY and improving to EPS of $0.11 in fiscal 2026.

Multiple analysts raised price targets for WULF stock post the Fluidstack deal, with JMP Securities and Northland increasing targets to $13 and $12, respectively. Wall Street is bullish on the stock with a consensus “Strong Buy” rating, signaling potential for a 45% rally from current levels.

Read more at Yahoo Finance: Google Is Betting Big on Terawulf Stock. Should You?