Google provides over $5 billion in credit guarantees for Bitcoin miners, as miners gradually shift to AI. Google has currently provided over $5 billion in credit guarantees through Fluidstack, supporting AI hosting contracts worth tens of billions, including those from TeraWulf, Cipher, Hut 8, and more. Miners gain stable income and credit financing, while Google secures computing resources and equity in mining companies. TeraWulf: Contract revenue around $6.7 billion (initial: $3.7 billion), Google credit guarantee $3.2 billion (initial: $1.8 billion), Google receives 14% equity warrants. Cipher Mining: Contract revenue around $3 billion, Google credit guarantee $1.4 billion, Google receives 5.4% equity warrants. Hut 8: Contract revenue $7 billion, Google provides full financial backstop.