Bitcoin mining company TeraWulf's stock surges due to Google-backed AI expansion plan

Jinse Finance reported that on a Tuesday when bitcoin mining stocks as a whole performed sluggishly, a Nasdaq-listed company announced that it would further enhance its artificial intelligence computing power through a joint venture with an AI cloud company supported by Google. After the announcement, the company's stock price soared nearly 17%. Affected by this news, the company's stock closed at $17 per share. According to financial data, in after-hours trading, the stock price had fallen back to $16.24. The company, headquartered in Easton, Maryland, USA, stated that under a 25-year hosting agreement, both parties will develop a 168-megawatt critical IT load at a site in Abernathy, Texas, in the second half of this year. An announcement stated that the company will hold a 51% majority stake in the joint venture.