Bitcoin price today: falls to 2-week low below $113k ahead of Fed Jackson Hole
Investing.com -- TeraWulf (NASDAQ:WULF) announced that Google (NASDAQ:GOOGL) has agreed to increase its ownership stake in the Bitcoin miner and data center operator to approximately 14% from around 8%.
The expanded partnership is connected to a new CB-5 lease agreement, under which Google will provide an additional $1.4 billion backstop to support project-related debt financing for TeraWulf’s Lake Mariner data center campus expansion in Western New York.
As part of the deal, Google will receive warrants to acquire 32.5 million shares of TeraWulf common stock. This new commitment brings Google’s total backstop support to $3.2 billion.
Despite the announcement of the expanded partnership, TeraWulf shares fell 3% in early New York trading on Monday.
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