[CoinDesk] Google could take stake in bitcoin miner TeraWulf’s $19 billion AI project if Anthropic defaults

Google has secured a backstop arrangement tied to TeraWulf’s $19 billion AI data-center project that could give it an equity stake if Anthropic defaults on its lease obligations. The provision sits within a broader $19 billion agreement involving the bitcoin miner’s AI infrastructure buildout, with Anthropic as the anchor tenant and Google acting as backstop. The structure matters because it links a major cloud and AI player to a bitcoin miner’s pivot into AI hosting, while shifting default risk onto Google’s balance sheet. TeraWulf, which has been converting mining capacity into high-performance computing sites, gains a creditworthy backer for the project. Watch whether Anthropic’s lease payments stay current and how Google’s potential stake would be priced and sized if triggered.