Google Backs $15B Texas Data Center Amid Bitcoin Mining Boom

Google is reportedly backing a $15 billion financing package for an Anthropic data center in Texas. The campus, developed by Nexus Data Centers, will include an on-site natural gas power plant capable of generating 1.6 gigawatts of electricity.

The deal includes a guarantee from Google to cover parts of Anthropic's leases and related power purchase agreements, totaling billions of dollars. In exchange for this guarantee, Google is expected to receive an equity stake of around 20% in the project.

This financing package comes amid a surge in Bitcoin mining stocks, with companies including IREN, Hut 8, and CleanSpark seeing gains of over 20% on Thursday.