Could Alphabet Be About to Start Mining Bitcoin?
By agreeing to backstop leases at a New York data center campus run by TeraWulf (NASDAQ: WULF), (NASDAQ: GOOG) (NASDAQ: GOOGL) picked up some stock warrants that could translate into a meaningful equity stake in a company that mines Bitcoin (CRYPTO: BTC).
The internet search giant is not buying coins directly, and it isn't buying a mining company outright. But the economic exposure here is still real enough to matter for investors, so let's investigate what happened in more detail.
Image source: Getty Images.
Source Fool.com
Alphabet Inc. A Stock
€272.30
0.330%
The stock is one of the favorites of our community with 119 Buy predictions and 3 Sell predictions.
As a result the target price of 282 € shows a slightly positive potential of 3.56% compared to the current price of 272.3 € for Alphabet Inc. A.
