Mining Firm TeraWulf Completes Approximately $1.036 Billion Stock Offering for Data Center Construction and Debt Repayment

BlockBeats News, April 17th, Nasdaq-listed mining company TeraWulf Inc. announced the completion of its previously disclosed public offering, issuing a total of 54.51 million shares of common stock at a price of $19 per share (including the underwriters' full exercise of the over-allotment option of 7.11 million shares), raising approximately $1.036 billion.

The company stated that the funds raised this time will be mainly used for the construction of its data center campus in Hawesville, Kentucky, USA, as well as for repaying bridge loans and supporting future site acquisitions and general corporate purposes.

This issuance was led by Morgan Stanley as the lead underwriter, with Bank of America, Citigroup, TD Cowen, and Wells Fargo serving as joint bookrunners.
TeraWulf stated that the company focuses on sustainable energy-driven high-performance computing (HPC) and Bitcoin mining infrastructure construction and will continue to expand its low-carbon computing power capacity in the future to serve the growth of AI and computing power needs.