TeraWulf is looking to expand into the red-hot AI space as Bitcoin mining difficultly climbs and profitability shrinks.
Bitcoin miner TeraWulf will lease over 70 megawatts of data center infrastructure to expand its artificial intelligence revenue as it continues to battle with rising Bitcoin mining costs.
TeraWulf said on Dec. 23 that AI and cloud provider Core42 would rent the 70 MW of infrastructure at the crypto miner’s Lake Mariner facility in upstate New York as its share price closed down 12% amid a broader market fall.
“The data center leases reflect TeraWulf’s strategic extension into AI-driven computing, complementing its profitable Bitcoin mining operations,” TeraWulf said.
