Bank of Nova Scotia discloses 7.7% TeraWulf stake and 5.62% CleanSpark position
Bank of Nova Scotia discloses 7.7% TeraWulf stake and 5.62% CleanSpark position.
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The Bank of Nova Scotia reported ownership of 39,824,376 TeraWulf (NASDAQ: WULF) shares in an amended Schedule 13G filed Wednesday with the U.S. Securities and Exchange Commission. The position represented 7.70% of TeraWulf's outstanding common stock as of June 30.
The bank also disclosed a separate position of 14,791,062 shares in CleanSpark (NASDAQ: CLSK), equal to 5.62% of its common stock. That initial Schedule 13G covered the same June 30 ownership date and was filed Wednesday.
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Bank of Nova Scotia reported sole voting and disposal authority over both holdings, with no shared authority. The two positions totaled 54,615,438 shares, though the aggregate combines securities issued by two separate companies.
As a large commercial bank, the purchase orders are typically executed and held on behalf of private investors or dealer operations, and not performed off the bank's corporate balance sheet.
The filings follow two major deals involving former Bitcoin miners that have pivoted toward AI infrastructure. CleanSpark announced a 20-year lease with an unnamed tenant at its Sandersville, Georgia, site, with total contract value of up to $6.6 billion. Roughly a week earlier, TeraWulf announced a 19-year agreement with Anthropic for its Hawesville, Kentucky, site.
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