Shares of TeraWulf (NASDAQ: WULF) jumped more than 25% Tuesday morning after the company announced a pivot to AI. 

TeraWulf, one of the largest publicly traded bitcoin miners, is accelerating its shift into artificial intelligence infrastructure through a new joint venture with AI cloud provider Fluidstack. 

The companies plan to build 168 megawatts (MW) of high-performance computing capacity at TeraWulf’s Abernathy, Texas, campus under a 25-year hosting agreement valued at roughly $9.5 billion in contracted revenue.

TeraWulf will hold a 51% stake in the venture and retain exclusive rights to participate in Fluidstack’s next ~168 MW project on similar terms….

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