TeraWulf’s stock soared Thursday after revealing a 10-year deal with AI cloud platform Fluidstack that also aligns the bitcoin miner with Google.

The decade-long high-performance computing (HPC) colocation agreements — with two five-year extension options — come as bitcoin miners have looked to diversify income streams in recent years away from volatile crypto-linked revenues.

TeraWulf is set to deliver to Fluidstack more than 200 megawatts of critical IT load at its Lake Mariner datacenter in New York, the company said Thursday. TeraWulf estimates $370 million in annual revenue from this deal. 

Perhaps a bigger takeaway from the deal is Google taking a roughly 8% stake…

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