BULLISH BREAKOUT: Google’s $3B Backstop Rockets TeraWulf (WULF) Stock to Multi-Year High
TeraWulf shares surged to a 3.5-year high near $13.39 after Google increased its stake to 14% and boosted financial support to $3.2B in August. The company is arranging a $3B debt raise for expansion, advised by Morgan Stanley. Q2 revenue rose 34% to $47.6M, but net loss widened to $18.37M. As of June 30, TeraWulf held about $90M in cash and crypto, with $500M in convertible debt.