TeraWulf Plans to Seek $3 Billion Debt Financing for Data Center Construction

BlockBeats News, September 27th, according to Bloomberg, Bitcoin mining firm TeraWulf (Nasdaq: WULF) is expected to raise approximately $3 billion to support the construction of its data centers. Morgan Stanley is arranging this potential deal for TeraWulf, which could launch as early as October, with the financing possibly taking the form of high-yield bonds or the leveraged loan market.

Google is expected to provide backstop support for the transaction, a move that could result in a higher rating for the debt, with rating agencies likely placing the credit rating of the transaction in the BB to CCC range.