TeraWulf upsizes and prices a $900 million zero-coupon convertible due 2032 to fund a Texas data center build.
The stock jumped 17% Tuesday after inking a $9.5 billion Google-backed AI compute deal with Fluidstack.
TeraWulf has shared plans for a $500 million convertible note offering to fund a new Texas data center, extending its AI-focused expansion.
The bitcoin miner turned AI infrastructure firm will co-develop a 168 MW data center in Texas, with long-term revenue locked in.
The bank also reaffirmed TeraWulf (WULF) as its top pick in the sector.
Google has taken a stake in TeraWulf, along with rival mining firm Cipher, as it backstops the firms' debt obligations.
Executives at Jackson Hole’s SALT conference said the old boom-and-bust halving rhythm is breaking down, with survival now tied to cheap power and diversified infrastructure.
Most of the net proceeds are earmarked for the firm's data center expansion, with $85 million set aside for capped call transactions to mitigate share dilution.
TeraWulf announced a $400 million private convertible notes offering as its Google-backed AI client Fluidstack looks to lease more compute.
The combined hashrate of the 13 U.S.-listed miners the bank tracks now accounts for a record high 33.6% of the global network.
The news comes alongside Fluidstack exercising its option to expand at WULF's Lake Mariner data center campus.
TeraWulf, a prominent Bitcoin miner, has secured a strategic partnership with Google as part of its high-performance computing (HPC) co-location agreements with Fluidstack. According to an Aug. 14 statement, the search engine giant will backstop $1.8 billion of Fluidstack’s lease obligations, providing critical support for project-related debt financing. The arrangement grants Google a warrant to […]
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TeraWulf is looking to expand into the red-hot AI space as Bitcoin mining difficultly climbs and profitability shrinks.
Bitcoin celebrates 12 years since its first halving event, with block rewards shrinking to 3.125 BTC and miners adapting to higher difficulty amid rising prices.
United States lawmakers believe Building energy infrastructure for Bitcoin mining, AI, and high-performance computing is a major priority.
Miners including Cormint and TeraWulf are among the lowest-cost producers of Bitcoin, an important advantage amid tightening margins, CoinShares said.
Crypto exchange Coinbase and Bitcoin miners CleanSpark and Iren closed Oct. 14 with double-digit percentage gains and continued to climb after the bell.
TeraWulf claims to be the most profitable miner on a per-share basis, with an average production cost of $40,000 per Bitcoin.
CleanSpark’s CEO Zach Bradford said his firm has set its sights on increasing future hash rate instead of branching out to alternative revenue streams.
Executives from the U.S. Bitcoin mining industry pitched the presidential candidate on how they could strengthen the electrical grid and create new jobs.