<div id="readability-page-1" class="page">p ByTrefis Team  Share Save Comment Money Markets What's Next For TeraWulf Stock?  ByTrefis Team ,  Contributor.  Forbes contributors publish independent expert analyses and insights. Building a platform to do the job of 1 million analysts for  Great Speculations Follow Author Aug 21, 2025, 10:07am EDT Share Save Comment  Photo illustration by Cheng Xin/Getty Images Getty Images  TeraWulf (NASDAQ: WULF) , a firm previously characterized by the volatile nature of Bitcoin mining, has recently made an impressive shift that has propelled its stock upwards. On August 14, 2025, the company revealed a significant 10-year agreement with AI cloud service provider Fluidstack, a contract that immediately altered its course and investor outlook. Within just a week, the stock has surged 70%!  This isn't merely a basic contract; it's a substantial, multi-billion dollar pledge towards high-performance computing (HPC). The initial agreement is estimated to be worth around $3.7 billion and encompasses more than 200 megawatts (MW) of critical IT load. However, the truly remarkable aspect is the strategic participation of Google (NASDAQ:GOOG) , which is contributing a $1.8 billion safeguard for Fluidstack’s lease commitments and has acquired an 8% equity stake in TeraWulf. Just a few days later, Fluidstack enlarged the deal, incorporating an additional 160 MW of capacity. This raised the total contracted revenue to approximately $6.7 billion, with the possibility of reaching an astonishing $16 billion if lease extensions are executed, and increased Google's safeguard to $3.2 billion and its equity stake to 14%. Although WULF stock has experienced a favorable run, if you seek a more stable investment than a single stock, consider the High Quality portfolio , which has surpassed the S&amp;P, experiencing &gt;91% returns since its inception.  This significant transition from Bitcoin mining to AI infrastructure is the reason the stock has more than doubled from its recent lows. In the second quarter of 2025, TeraWulf announced revenue of $47.6 million, a 34% year-over-year increase. While Bitcoin mining still forms a component of its business, the new AI contracts offer a reliable, long-term revenue source with an anticipated 85% site-level net operating income margin. This is a stark contrast to the exceedingly volatile and lower-margin characteristics of cryptocurrency mining, where miner rewards were reduced in April 2024. Buy or Fear WULF Stock?  What lies ahead for TeraWulf is a narrative of execution. The company is on an expedited deployment timetable, with the initial 40 MW of liquid-cooled capacity expected to be operational in the first half of 2026 and complete deployment of the initial 200 MW by the end of that same year. The company's primary objective is to effectively develop this capacity at its Lake Mariner campus in New York. With a robust pipeline for future expansion and the support of one of the world's most influential technology firms, TeraWulf is no longer merely a Bitcoin miner; it has now become a crucial player in the rapidly growing AI infrastructure sector.  You might want to investigate the Trefis Reinforced Value (RV) Portfolio , which has surpassed its all-cap stocks benchmark (combination of the S&amp;P 500, S&amp;P mid-cap, and Russell 2000 benchmark indices) by providing solid returns for investors. Why is that? The quarterly rebalanced mix of large-, mid-, and small-cap RV Portfolio stocks offered a proactive approach to capitalize on optimistic market conditions while minimizing losses when markets decline, as outlined in RV Portfolio performance metrics .  MORE FOR YOU  Editorial Standards Reprints &amp; Permissions LOADING VIDEO PLAYER... FORBES’ FEATURED Video</div>

WULF

<p>TeraWulf（纳斯达克股票代码：WULF）最近从比特币挖矿转向人工智能基础设施，导致其股价在与 Fluidstack 达成 37 亿美元协议后飙升 70%。该交易得到了谷歌 18 亿美元的保障和 8% 的股权支持，未来可能扩展到 160 亿美元。TeraWulf 在 2025 年第二季度报告了 34% 的收入增长，人工智能合同承诺提供稳定的收入。该公司计划到 2026 年底部署 200 兆瓦的产能，力争成为人工智能领域的关键参与者</p>

TeraWulf 股票接下来会如何发展？