Bitcoin acquisition spree by firms: From dead in America to $250M SPACs, discovering the reason behind the stockpiling trend
TeraWulf Secures Major Lease Deal, Boosting Bitcoin Holdings
In a significant move, TeraWulf, a leading player in the Bitcoin mining sector, has secured a 10-year colocation lease for a new data center named CB-5. This deal, revealed during TeraWulf's latest shareholder call, marks a significant expansion for the company and reinforces its commitment to the Bitcoin mining industry.
With this deal, TeraWulf's total contracted capacity exceeds 360 megawatts, a substantial increase that could potentially generate substantial revenue. According to the terms of the lease, Google now owns 14% of TeraWulf, a move that has sparked discussions about the strategy's implications.
The rise of corporate Bitcoin holders is no longer just a Western phenomenon. K33 Research reports that the number of public companies holding Bitcoin increased from 70 to 134 between December 2024 and June 2025. This surge includes 41 U.S. firms, 29 from Canada, 8 in Japan, and 7 in the UK. These companies are spread across 27 countries, indicating a global trend towards Bitcoin adoption.
The strategy of holding Bitcoin is spreading globally, following the MicroStrategy playbook. Bitcoin treasury companies may be nearing an inflection point, as they navigate the complexities of digital finance and potential oversight from regulators in Asia and beyond.
Samyukhtha L KM's SPAC, known as American Exceptionalism Acquisition Corp. A (ticker: AEXA), is a newly filed special purpose acquisition company (SPAC) targeting sectors such as decentralized finance (DeFi), artificial intelligence (AI), energy production, and defense. The SPAC, led by Social Capital managing partner Steven Trieu as CEO and Chamath Palihapitiya serving as chairman, aims to bridge traditional finance with blockchain technology developments.
Collectively, these companies now hold 244,991 BTC. While the SPAC is still in the initial fundraising and filing stage, it represents Palihapitiya’s return to the SPAC market amid changed market conditions and renewed interest in crypto-driven financial innovation.
The SPAC, backed by Social Capital, adopts investor-friendly features such as no warrants and founder share vesting tied to stock price performance. As of late August 2025, the SPAC has not announced any merger targets or completed acquisitions.
Questions about this strategy are also arising as it spreads. Regulators in Asia and beyond have closer oversight of digital finance, potentially affecting Bitcoin treasury companies. The SPAC's approach, however, emphasizes the potential of DeFi, not Bitcoin, as the next wave of financial innovation.
In summary, TeraWulf's deal with CB-5 marks a significant expansion for the company, boosting its Bitcoin holdings and reinforcing its commitment to the Bitcoin mining industry. Meanwhile, the rise of corporate Bitcoin holders and the increasing global adoption of Bitcoin treasury companies indicate a growing trend in the digital finance world. The SPAC led by Steven Trieu and Chamath Palihapitiya aims to bridge traditional finance with blockchain technology developments, positioning itself as a key player in the future of financial innovation.
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