Google did not acquire or buy TeraWulf outright; rather, Google entered into strategic financial support and credit enhancement arrangements tied to massive multi-year artificial intelligence infrastructure hosting agreements. Specifically, Google backstopped substantial lease obligations—such as backing billions in lease commitments for joint-venture partners to facilitate project-related debt financing—and received significant equity warrants representing an approximate minority ownership stake in the company. These high-profile agreements validate TeraWulf's status as a tier-one hyperscale infrastructure provider without changing independent corporate ownership.