TeraWulf Soars 4 57 as $1 6B Surge Propels It to Top 500 by Volume on Google AI Pact

TeraWulf (WULF) surged 4.57% on August 18, 2025, with a trading volume of $1.6 billion, marking a 67.52% increase from the previous day. This momentum followed the company’s announcement of a $3.2 billion funding commitment from Google, including a 14% equity stake, and a $6.7 billion CB-5 lease agreement. The Lake Mariner campus, now expanded to 360 MW of critical IT load, is purpose-built for AI-optimized, liquid-cooled servers and scalable to 520 MW. Fluidstack, Google’s AI cloud platform, has secured 360 MW of capacity through 10-year HPC colocation agreements.

The partnership solidifies TeraWulf’s role in the AI infrastructure market, with Google’s $1.4 billion incremental backstop for the CB-5 project and warrants for 32.5 million shares. This aligns with TeraWulf’s strategic pivot to dual-use AI hosting and Bitcoin mining, leveraging Lake Mariner’s sustainable water cooling and dual 345 kV transmission lines. The facility’s 85% net operating income margins and modular design enhance its competitive edge in a sector projected to grow at 31.6% CAGR through 2030.

TeraWulf’s $400 million convertible senior notes offering further strengthens its balance sheet, enabling expansion without significant shareholder dilution. The company’s hybrid debt-equity structure and ESG-aligned energy strategies position it to capitalize on the $45 billion AI data center market while mitigating Bitcoin price volatility. Analysts highlight the company’s institutional credibility and energy-efficient operations as key differentiators in a capital-intensive industry.

The backtesting result indicates that a strategy of purchasing the top 500 stocks by daily trading volume and holding them for one day yielded a 0.50% total return from 2022 to the present. An initial $10,000 investment grew to $10,050, reflecting an average daily return of 0.005 (0.5%) over the holding period. This suggests modest returns tied to market liquidity and short-term trading activity during the timeframe.