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Google backs Bitcoin miners' AI shift with at least $5B in lease credit
Alphabet’s Google is providing at least $5 billion in credit support to help several Bitcoin miners repurpose sites for AI hosting through long-term leases. On Dec. 17, Hut 8 disclosed a 15-year, 245‑megawatt deal in Louisiana; earlier deals at TeraWulf and Cipher included multibillion‑dollar revenue commitments underpinned by Google. The structure allows banks to treat these projects as infrastructure debt rather than speculative crypto financing.