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TeraWulf jumps on Google’s increased 14% stake

Google increased its backstop commitment to $3.2 billion, up from the $1.8 billion announced last week.

8/18/25 9:37AM

TeraWulf jumped 13% in premarket trading this morning after announcing that AI cloud platform Fluidstack exercised its option to expand at the company’s Lake Mariner, New York, data center campus. The bitcoin mining company also announced that Google increased its initial backstop commitment to $3.2 billion, up from the $1.8 billion announced last week.

Google’s stake in the company increased to 14% from 8% last week after it acquired an additional 32.5 million shares of TeraWulf via warrants.

The stock is up 84% in the past week and 98% in the past month.

The deal also represents $8.7 billion in contracted revenue, which could bring total contracted revenue to $16 billion with lease extensions.

“This expansion not only scales our contracted platform but reinforces TeraWulf’s leadership in the AI and HPC infrastructure ecosystem, delivering globally competitive, sustainable, and scalable compute solutions,” TeraWulf CEO Paul Prager said in a release.

TeraWulf also announced on Monday morning a $400 million private offering of aggregate principal amount of convertible senior notes due 2031 to “qualified institutional buyers.”

“The company intends to use the net proceeds from the offering to pay the cost of the capped call transactions with the remaining net proceeds used to finance a portion of the company’s data center expansion and for general corporate purposes,” the press release stated.

Sage D. Young

6/5/26

Zcash nosedives after counterfeit vulnerability revealed

The privacy-focused cryptocurrency has dropped more than 40% in the last 24 hours, shedding $3.8 billion in market capitalization.

$62B

Yaël Bizouati-Kennedy6/5/26

Bitcoin digital asset treasuries (DATs) have taken a big hit amid bitcoin’s tumble, shedding $62 billion in value since the asset’s October 6 all-time high, Artemis data shows, with their fully diluted market cap dropping to $72 billion from $134 billion in early October.

Meanwhile, bitcoin, which has fallen below $62,000 on Friday morning, is down 50% from its all-time high. DAT pioneer Strategy’s market cap stood at $102.2 billion on October 6, according to Macro Trends, and is now down to $45.6 billion, a 55% decline. Strategy has been in hot water since it sold 32 bitcoin earlier this week, and because its digital credit instrument, STRC, has been trading below its par value. Shares of Strategy are down 17% in the past week.

Sage D. Young6/4/26

“Sentiment for crypto is firmly in the gutter” as sector sinks, with tokens hitting multiyear lows

On Thursday, altcoins swept lower as bitcoin weakened. The tokens with the biggest losses in the last 24 hours are NEAR, ethena, and Zcash, each declining double digits in the period.

Other tokens have dropped to lows not seen in over a year in the past 24 hours:

Ethereum dropped 4.4% to under $1,780, a level not seen since April 2025.
XRP declined 4.5% to an 18-month low last hit in November 2024.
Solana decreased 6% to trade below the $70 mark, its lowest price since December 2023.
Dogecoin slid below $0.09, a 27-month low last seen in February 2024.

“Sentiment for crypto is firmly in the gutter as fears surrounding BTC/STRC and its potential overflow compound and overshadow anything that can be read as positive news (e.g. CLARITY movements),” according to Sean Dawson, head of research at crypto options platform Derive.xyz.

“[Altcoins] are high beta plays to BTC and are typically sold heavily in a downturn. Simply put, I’d be even more bearish on alts,” Dawson told Sherwood News.

“Further, liquidity has been drained into this year’s ‘superhot’ narrative of AI/data centers. In other words, there are just better, more exciting opportunities elsewhere,” Dawson added.

One cryptocurrency that has bucked the downtrend has been worldcoin, the native token for World, the digital identity project backed by OpenAI CEO Sam Altman. While the broader crypto market has been pushing lower, WLD has jumped nearly 5% in the last 24 hours and 90% in the past seven days, data from CoinGecko shows.

Yaël Bizouati-Kennedy

6/4/26

Bitcoin nears February lows amid $1.4 billion exiting its ETFs

“This week has been painful in crypto. There is really no other way of putting it.”